International crude oil cross-border transactions are settled in digital RMB for the first time
According to the news on October 20 on the WeChat official account of Shanghai Oil and Gas Trading Center, on October 19, PetroChina International Co., Ltd
According to the news on October 20 on the WeChat official account of Shanghai Oil and Gas Trading Center, on October 19, PetroChina International Co., Ltd. reached the first international crude oil cross-border RMB settlement transaction on the platform of Shanghai Oil and Gas Trading Center, purchased a ship of 1 million barrels of crude oil, and will use digital RMB settlement for the first time.
Previously, the Shanghai Municipal Party Committee and Government issued a work request for Shanghai to actively participate in the application of digital RMB in international trade. In response to the call, the Shanghai Oil and Gas Trading Center actively promoted the embedding of digital RMB in cross-border RMB payments when expanding international oil and gas trade transactions.
In recent years, adhering to the principles of internationalization, marketization, and specialization, Shanghai Petroleum and Natural Gas Trading Center has actively expanded its domestic business while exploring international oil and gas trading business, providing faster, more stable, and efficient trading and payment channels for international resources to enter the Chinese market, and meeting the diversified needs of domestic and foreign market entities.
Tag: International crude oil cross-border transactions are settled in digital
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