Edward Leung: How has the cross-boundary Rmb trade settlement process worked? How has it been handled?

Tse Kwok-Leung: The principle of trade settlement is simple. Generally speaking, trade has been settled in three ways, namely remittance, collection and letter of credit. Trade between Hong Kong and the Mainland is mainly settled in US dollars. When a Hong Kong importer brings a shipment of goods in from the Mainland, he has to pay the Mainland exporter for the goods.........