Tag

SAFE

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ResearchPolicy2026-10-26

Under the New-Type Offshore Trade Framework, RMB Settlement Friction Eases; the Same-Bank Same-Currency Line Still Binds

SAFE's new-type offshore international trade already recognizes the structure where an offshore SPV signs and the domestic refiner clears customs under its own quota. With the yuan firming to 6.6683 today, RMB settlement routing friction eases further; but the same-bank, same-currency rule for offshore resale stays a hard line, and cross-bank or cross-currency deals must be declared up front.