India starts RMB settlements  

印度进行首笔跨境贸易人民币结算业务

总部设于上海的汇丰银行(中国)1日透露，已在印度为一家制药公司提供人民币结算服务。据了解，这是印度首笔跨境贸易人民币结算业务。

Shanghai (CNS) -- One of India's pharmaceutical companies has made its RMB settlements through HSBC. This first RMB settlement in India puts the country on the list of those who exercise the capability.

HSBC released the settlement news yesterday and forecast that the RMB will become one of three main currencies used for global trade settlements. About 10 percent of the exports from mainland China in the first quarter of this year were settled by RMB, HSBC reports from its collected statistics.

Sino-India trade has become more and more active and this RMB settlement by India is a milestone in Sino-India trade relations, said Sandeep Uppal, managing director and head of commercial banking, HSBC India.

He Sunhua, General Manager of the department, added that the internationalization of the RMB in the past three years is a promising development, signaling tremendous progress for a currency that started its trade settlement only three years ago.