Many people know that Huawei is the world's leading communication technology company, but few people know that Huawei also has an e -commerce department to sell red wine, salmon, beef and milk powder.It is not unusual for Huawei to sell, mobile phones, and cars. How can it sell red wine and beef?
In fact, this is related to Huawei's core business. The purchase of red wine and beef is a sales payment recovered by Huawei at the overseas seller station.Many of Huawei's overseas businesses are difficult to receive hard currency in the US dollar euro when receiving money, because the country where the project is located may lack foreign exchange or strict foreign exchange control.In order to make a business, Huawei usually agrees to buyers pay a repayment of local currencies after evaluation.However, these local currencies have a large fluctuation of the currency value, and it is difficult to find the corresponding exchange or value -preserving business banks. How to solve the value of sales repayment at low cost is a problem for Huawei Financial Department.The solution is also very simple. With the local currency received by the local, Huawei pays all local expenses. The remaining part of the purchase of local products is purchased, returned to China for sales, and exchanged for RMB.
From a macro perspective, this is not an efficient trading behavior.What is its upgraded version?It is the recent signing of the newly signed RMB and a peso exchange agreement in China and Argentina, allowing Argentina to repay the debt of the International Monetary Fund (IMF) obtained by Argentina.On the last day of June, Argentina repaid IMF's US $ 1 billion foreign debt with RMB.Argentine Economic Minister Massa thanked Latin American Development Bank for their support and especially thanked the Chinese government for its help.
Due to the continuous interest rate hike in the dollar, the currency of many developing countries has depreciated significantly compared with the US dollar, the US dollar reserves have decreased, the US dollar liquidity crisis has occurred, and the US dollar is unable to repay US debt.The use of RMB is a chance to solve the debt country. Use local currency to exchange with RMB and repay debt with RMB.The exchange rate of currency exchange between China and Argentina is fixed. The advantage of this is to avoid the impact of the fluctuation of the exchange rate market and simplify the transaction process. After the expiration, the two parties can take out the original amount of currency exchange.The foundation of currency exchange between the two countries is that both countries have a strong demand for each other's products.China gets Argentine peso and will buy Argentine red wine beef and other products; Argentina gets RMB and can buy Chinese products such as Huawei Company products, which can be used to repay debts.Through the method of currency exchange, bilateral trade and convenience can be strengthened. It can also help the US dollar debt, reduce dependence on the US dollar, and reduce the harvest of the US dollar interest rate hikes to the world.This is the essence of currency interchange.
In January this year, China and Arabia officially expanded the currency exchange agreement, which strengthened the foreign exchange reserves of Argentina's 130 billion yuan (approximately S $ 24.286 million) foreign exchange reserves and activated the disposable amount of RMB 35 billion.On April 26, Argentine Economic Minister Massa announced that the US dollar paid goods imported from China and used RMB to settle.On June 29, the Central Bank of Argentina announced that the RMB was included in the currency allowed by the Argentine banking system to access, and the domestic banking institutions of Argentina opened RMB savings and current deposit account business.The announcement states that this move is widely used in RMB in Argentina's foreign trade and local financial markets, providing convenience, and Huawei should be able to focus on selling communication products.
The use of RMB in Argentina has become the norm of corporate companies. More than 500 Argentina companies use RMB to pay import payment. The proportion of RMB transactions in the Argentine foreign exchange market has recently reached a record of 28%. The highest in June was only 5 in June 5.%.On July 28, the Bolivia government also announced that it has begun to use RMB in import and export transactions, becoming the latest South American countries that regularly use RMB transactions.The country has been plagued by a serious shortage of US dollars since February. The national economy and foreign trade have been impacted. The alternative is the ranks of joining Brazil and Argentina to start using RMB.These three countries are currently governed by the left -wing government or the Chinese left -wing government. The increase in the use of RMB is mainly to strengthen relations with China. It also unanimously hopes to reduce its dependence on the US dollar and reduce dependence on the United States.
At the end of 2022, the renminbi had exceeded the euro and became the second largest currency of Brazil's foreign exchange reserves.Gendan, director of the Latin American project of Woodro Wilson Center in the United States, said that the special status of the US dollar in Latin America and other places is facing threats, which makes Washington's anxiety.The U.S. Treasury Department acknowledged that the focus of Treasury Minister Yellen recently visited China was also the debt issue of emerging economies.China played a new role in Argentina's last lender, which greatly damaged the interests of the dollar.These incidents in the backyard of the United States have become the symbol of the development of the times.
The author is a senior researcher at the Executive Chairman of Chengdu Zhendan Think Tank
