A:Well,Mr.Zhang,we’ve settled everything in connection with this transaction except the question of payment in Renminbi.Now,can you explain to me how to make payment in Renminbi?

B:In the last few years many of our friends in Thailand,Vietnam,Myanmar,India,and other ASEAN nations are paying for our exports in Chinese currency Renminbi.It is quite easy.

A:I know some of them are doing that.But this practice is new to me.I’ve never made payment in Renminbi before.In terms of Renminbi payment,is it as convenient as it is to make payment in pounds sterling?

B:Yes,if you know how to do it.Many banks in Asia and Europe now carry accounts in Renminbi with the Bank of China,Beijing.They are in a position to open letters of credit and effect payment in Renminbi.Consult your banks and you’ll see that they are ready to offer you this service.

A:Do you mean to say that I can open a letter of credit in Renminbi with a bank in London or Bern and they can effect payment in Renminbi later?

B:Sure you can.Several of the banks in London,such as the Bank of China,London,the National Westminster Bank and Barclays Bank,are in a position to open letters of credit in Renminbi.They’ll do so against our sales confirmation or contract.

A:I see.