The remittance from my brother abroad helped us pay off our debts.
我哥哥从国外寄来的汇款帮助我们还清了债务。
Many families in this village rely on
remittances from family members working in the city.
这个村子里的许多家庭依靠在城市工作的家人寄回的汇款生活。
The rise in remittance fees has made it more expensive for migrants to send money home.
汇款费用的上涨使得移民往家里寄钱变得更加昂贵。
She was eagerly awaiting the remittance from her uncle to cover her tuition fees.
她急切地等待着叔叔寄来的汇款以支付她的学费。
Remittances play a crucial role in the economy of many developing countries.
汇款在许多发展中国家的经济中起着至关重要的作用。
The company offers a fast and secure remittance service for international transactions.
该公司提供快速且安全的国际交易汇款服务。
He checked his bank account daily, hoping to see the remittance from his employer.
他每天查看银行账户，希望看到雇主汇来的款项。
The reduction in remittance costs could significantly boost the income of recipients.
汇款成本的降低可以显著增加收款人的收入。
Her parents regularly sent
remittances to support her education and living expenses abroad.
她的父母定期汇款支持她在国外的教育和生活费用。
The study found that migrant workers'
remittances contribute significantly to rural development.
研究发现，农民工的汇款对农村发展做出了重大贡献。
The deal marks the first panda bond following recent regulatory changes by the People's Bank of China, the central bank, and the State Administration of Foreign Exchange to facilitate foreign remittance of panda bond proceeds.
该交易标志着中国人民银行、中央银行和国家外汇管理局最近为促进熊猫债券收益的海外汇款而进行的监管改革之后的第一笔熊猫债券。
Facebook said the way Libra has been designed will allow users to store, spend and transfer money with almost zero transaction fees, and will be particularly targeted at people involved in cross-border remittances, a market currently worth $613 billion per year.
Ant Financial Services Group, a financial technology unicorn run by Jack Ma, teams up with Philippine telecommunication giant Globe Telecom to offer real-time cross-border remittance services for individuals and small and medium-sized enterprises (SMEs) in Hong Kong and the Philippines, in a sign of its determination to make inclusive finance a reality for ordinary people along the Belt and Road route and the world over.
"Setting sail from Hong Kong, Alipay will embark on an ambitious journey to promote the around-the-clock, real-time and cross-border remittance services to every corner of the world," Ma said.
Distinguished keynote speakers included Chang Chun, executive dean and professor of finance at Shanghai Advanced Institute of Finance; Che Pinjue, expert partner of Sequoia Capital China and Mu Haijie, senior vice president and president of Remittance Data, Remittance World.
"It is very hard for the company to get government approval and the outward remittance will also be a problem," said an industry analyst who declined to be named.
The deal will enable Huawei to add a ready-made solution for remittances - a growing mobile money product offering - to its existing suite of services.
"International remittance is a very important mobile money service in Africa, and our partnership with WorldRemit will bring international remittances directly to Huawei's customers across the continent," David Chen,xa0vice presidentxa0of Huawei Southern Africa said in a statement.
By enabling WorldRemit to connect to over 100 million mobile accounts currently using Huawei's platform, the deal is said to improve access to mobile money remittance for millions of people.
WorldRemit is the first international remittance company to partner directly with Huawei.
Technical integration is frequently a barrier to offering international remittances for mobile network operators.
If it is required to purchase the tendering documents at any other place, postage charges of RMB 50 Yuan shall be payable additionally, and in such cases the purchase price for such tendering documents shall be remitted into the account of the agent and the scanned copy of remittance evidence shall be sent to email address of the tendering agent and the purpose of remittance, name of entity, contact person, address and telephone number, email address , etc.
will add valuable cross-border remittance capabilities to the Ant Financial ecosystem, serving our more than 630 million users globally," Doug Feagin, president of Ant Financial International, said in the statement.
China has relaxed its restrictions on preliminary expense remittance in outbound direct investment projects, as part of its reform efforts to facilitate cross-border investment, the State Administration of Foreign Exchange said.
The circular removes the restriction that the cumulative remittance of preliminary expenses for outbound direct investment by a domestic enterprise should not exceed the equivalent of $3 million.
It instead stipulates that the cumulative remittance should not exceed 15 percent of the total intended investment by the Chinese enterprise.
Within the China (Shanghai) Pilot Free Trade Zone, all investment-related inward and outward remittances made by foreign investors will be allowed to flow freely as long as they are deemed aboveboard and compliant, according to a set of 31 new measures released by the Shanghai government on Thursday.
Similarly, the Beijing municipal commerce bureau said in a draft version of the city's foreign investment regulations released on Wednesday that it will support free inward and outward remittances of foreign investors' actual and authorized capital transfers related to investments.
Such remittances should be made without delay, said the regulations, on which the public can comment until Oct 19.
In terms of capital remittances, businesses are allowed to freely and promptly transfer their legitimate and authorized transfers related to foreign investment.
In the Shanghai FTZ, all the inward and outward remittance of transfers related to investments made by foreign investors will be allowed to flow freely as long as they are true and compliant.
Improved consumption and investment are boosting recovery in many regional economies, offsetting the impacts of elevated food and energy prices triggered by the Russia-Ukraine conflict and other global headwinds, the report said, adding that tourism and remittances are trending upward as pandemic restrictions ease further, and in many tourism-dependent economies, visitor arrivals are steadily improving toward pre-pandemic levels.
In April, a court in the country reportedly rejected Xiaomi's petition against the seizure of 55.51 billion rupees ($676 million), which was frozen in April last year by the federal financial crime agency over alleged illegal remittances to entities outside of India.
Fiscal policy has turned more proactive, she said, as this year's broad-based deficit-to-GDP ratio may reach 7.2 percent after taking into account off-budget funds including the PBOC's remittance, up 2 percentage points from last year.
During the three-day holiday that concluded on Monday, combined remittance on the two platforms reached 3.55 trillion yuan (about $541.76 billion).
There are more than 200 million migrant workers in China, and the income of migrant workers at MNCs, and their remittances sent home have become an important source that promotes China's economic growth.
However, other delivery services in the postal industry, such as mail, parcels, newspapers, magazines and remittance services all faced declines from the previous year.
Zhou Xiaochuan, former governor of the PBOC, said during a seminar recently that digital currencies should be used in cross-border trade based on retail sales and need to respect the various policies and regulations in different countries, including monetary, foreign exchange policies and currency exchange and remittance regulations.
"One of the most important changes that will save foreign institutional investors' operating costs and enhance their confidence to invest in China's financial market is the item regarding earnings remittance, Li said.
Since 1949 when the People's Republic of China was founded, BOC has long been a national bank specializing in foreign exchange and international trade, with its missions including managing the State's foreign exchange reserves, international trade settlement, overseas remittance and other non-trade foreign exchange operations.
The other is Shu Shan Da, a solution designed to simplify cross-border remittances, helping people in China send tuition fees and other funds overseas.
Thanks to the lower remittance costs in offshore markets, capital flows more efficiently here, which can be translated into higher willingness to hold yuan-denominated assets.
Zhou added that there will be huge business opportunities in cross-border remittance, securities business and venture capital fund-raising activities.
Separate rules for the interbank market and the exchange-traded market, concerning fund registration, fund remittances, and the opening of accounts, will be unified, according to the official document.
The central bank said it would speed up the profit remittance.
It added that the synergy between the remittance and other monetary policies would help maintain reasonable and ample liquidity in the market.
Once activated, the function allows users to receive remittances and pay for goods and services with digital currency in WeChat.
There should be close-ended capital management in bond trading, depositories, settlements and remittances.
The rules relate to capital account management, capital remittance and cross-border collection and payment.
In Shenzhen, a pilot city for the program in Guangdong province, 20 banks participating in the program opened 5,079 accounts related to Cross-boundary WMC business and recorded cross-boundary fund transfers and remittances totaling 104 million yuan ($16.33 million) as of Nov 19.
The platform has facilitated a number of businesses, including multilevel receivable financing in the supply chain sector, cross-border financing, international trade remittance supervision, and tax reporting on outward payments, the brochure stated.
The implementation details for the pilot scheme showed the renminbi will be used as the currency for cross-boundary remittance, transfer and settlement in the scheme, and the exchange of funds will be completed in offshore markets.
Cross-boundary remittances will be renminbi-denominated, with currency conversion conducted in offshore markets.
They also said cross-boundary remittances under the scheme will be conducted and managed in a closed-loop through the bundling of designated remittance and investment accounts, to ensure the funds are used only for WMP investments.
"Southbound trading for the Bond Connect will adopt the closed-loop system, with one-to-one bundling of designated remittance and bond purchases.
The HKMA, the PBOC, the Bank of Thailand, the Central Bank of the United Arab Emirates and an innovation hub of Bank of International Settlements are working on a multi-CBDC project to see whether their CBDCs can be used for cross-border remittances, and other scenarios such as trade finance and capital market transactions.
As a designated clearing bank for RMB business in the Philippines, the Bank of China Manila Branch can process the settlement of accounts and other core RMB services such as remittance, foreign exchange, liquidity support, and banknotes for the local participating banks.
This came after the People's Bank of China, the central bank, released implementation rules in May to remove the quota limit for QFIIs and RQFIIs, simplify the procedures of repatriating investment income, and allow QFIIs and RQFIIs to choose currencies and the timing of inward remittance on their own.
"The accessibility and scale of China's mobile payment is world-leading, and real-time reception of deposits, withdrawals and remittances have been realized," he said.
Under such circumstances, we should also respect policies and legal provisions in different jurisdictions, respect currency sovereignty, exchange rate regimes, and exchange and remittance regulations.
The HKMA will also consider leveraging Hong Kong's Faster Payment System's advantages of 24/7 operations and instantaneous payment to enhance cross-border bank remittance services, so that corporate and personal account holders in Hong Kong can receive overseas remittances or remit money to destinations abroad more speedily, Yue said.
According to draft new regulations published by the People's Bank of China, the central bank, if foreign institutions use both yuan and foreign currency to invest in the onshore bond market, they only need to meet the requirements imposed on foreign currency outward remittances.
The draft, which was released late on Monday for public opinion, said accumulated foreign currency used for outward remittances should not exceed 120 percent of the total foreign currency used for bond investments, compared with 110 percent earlier.
There will be no limit, once the new rules are approved, for outward remittances, especially when foreign investors use a single currency, either yuan or a foreign currency, to invest in the bond market, it said.
It will further ease bond market access, reduce foreign investors' concerns on outward fund remittances and encourage capital inflows, said Zhou Maohua, an analyst with China Everbright Bank.
According to a statement issued by the PBOC and the State Administration of Foreign Exchange, foreign investors under the QFII scheme will be allowed to make inward remittances in the currency of their choice.
China will also simplify outward remittance procedures for QFIIs' securities investment gains and lift other restrictions, it said.
Qualified investors will be allowed to freely choose in which currency and when they remit money to the country and are expected to see simpler outward remittance procedures for securities investment gains, according to the rule.
China will also simplify outward remittance procedures for QFII's securities investment gains and lift other restrictions.
The central bank waived inter-bank transfer fees of donations and fund remittances for epidemic prevention to Hubei and other virus-hit regions through its payment and clearing system.
Facing the novel coronavirus outbreak, the bank launched a number of measures to help enterprises in the nation to fight against the epidemic, including building a "green channel" for loan approval to speed up the processing of credit approval related to the disease prevention and waiving all fees for remittances and bank acceptance bills.
"Banks also improved the efficiency of financial services, including loan approval and remittance services, for relevant companies by simplifying procedures and assigning people to handle the allocation of funds in a timely manner," he said.
The daily remittance limit was lifted from 50,000 yuan.
To expand the renminbi settlement arrangement for banks in Macao, banks in the mainland should have certain qualifications of individual RMB business and follow the new rules to support the cross-border remittance business, according to the statement.
The Athens branch will expand the business of deposits, loans, remittances, international settlements and trade financing, providing strong financial support for economic and trade exchanges between China and Greece, the statement said.
After analyzing the cases in both emerging economies and developed countries, the appeal of digital currencies in cross-border payments may be remittances, or small cross-border fund transfers, during the initial stage, said Sun Tianqi, chief accountant at the State Administration of Foreign Exchange, the country's forex regulator.
"We have partnered with Ant Financial to launch the world's first blockchain-enabled cross-border remittance service from Hong Kong to the Philippines, and are piloting the service from Malaysia to Pakistan," he said.
For instance, Ant Financial is powering Pakistan's first cross-border remittance service using blockchain technologies, marking a major milestone in the country's journey to promote financial inclusion.
SBI's digitalization drive will enable various banks in China involved in bilateral trade to make direct remittances to India.
However, Libra could be an instrument allowing institutions to move remittances or foreign exchange across borders more quickly and cheaply than the legacy correspondent banking system, said Sheng.
Ant Financial has applied the technology in more than 40 real-life scenarios, including charity, food security, and cross-border remittance, according to Zhang.
"In retail banking, we are working together to introduce new solutions to facilitate personal remittances between Namibia and China," she added.
Ant Financial Services Group, which operates mobile payment tool Alipay, is powering Pakistan's first cross-border remittance service using blockchain technologies, marking a major milestone in the country's journey to promote financial inclusion.
The virtual wallet enables Pakistanis living in Malaysia to send money home instantly and securely via Telenor's Malaysia-based remittance service provider Valyou.
"This places Pakistan among the very few countries in the world that have launched international remittance using blockchain technology," said Tariq Bajwa, governor of the State Bank of Pakistan, who attended the launch event in Islamabad.
The blockchain technology will not only improve the speed and efficiency of remittances, but ensure money transfers are highly secure and transparent, as all information stored, shared, or uploaded through the blockchain remittance platform will be encrypted, according to a joint statement from Ant Financial and Telenor.
"The new remittance service is one of the examples of how emerging technologies can help countries meet their digital and financial inclusion goals," said Eric Jing, chairman and CEO of Ant Financial.
Inbound remittances contributed over 6 percent to Pakistan's GDP during the fiscal year 2017 to 2018, equivalent to over 50 percent of the trade deficit, 85 percent of exports and more than one-third of imports, Bajwa said citing official figures.
Currently, Pakistan receives about $1 billion in home remittances from Malaysia, and this Easypaisa-Valyou collaboration is going to change it for the better due to its transparency and swiftness, said Roar Bjaerum, senior vice-president of Telenor Financial Services.
Remittances reached a record high of $466 billion in 2017.
According to the OECD, reducing transfer costs by just 1 percent would increase the value of total remittances by $30 billion-equivalent to nearly a quarter of total Official Development Assistance flows.
This includes policies to guide OECD countries, partner countries and intermediary financing actors; preventing harmful practices such as tax avoidance; encouraging best practices on financial markets and making policies fit with development goals, for example through tax regimens and investment frameworks, and efforts to reduce the cost of remittance transfers.
The banks will not ask enterprises for registrations beforehand any more in doing remittance refund businesses.
"Customers can handle cross-border remittances easily through channels such as mobile banking, online banking and smart terminals.
"Minsheng Bank has served many domestic private enterprises and small and micro enterprises, in the process of overseas investment, overseas financing and international trade, they need a large amount of remittances, and they've benefited from GPI," President of China Minsheng Bank Zheng Wanchun told Xinhua.
Alibaba's Ant Financial Services Group announced blockchain money remittance services for its AlipayHK wallet in June.
Embracing the global payments innovation is the one resort for banks to gain an edge in cross-border payment," Xu said, adding that US-dollar remittance could be shortened from days to just 15 minutes after his bank adopted the global payments innovation.
The Philippines is mulling tapping Alibaba's financial technology solutions through its related company Ant Financial to lower remittance costs for the Philippines' over 10 million migrant workers and offer them other online-based banking and financial management services.
China will ensure remittance of overseas investors' returns in China, including profits and stock dividends, and foreign companies will be allowed to use yuan to trade in the domestic carbon emissions market, according to the central bank.
The Bank of China Luanda branch will mainly focus on company businesses and will expand deposit, loan, remittance, international settlement, trade financing, financial markets and other services.
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