Xinhua Finance and Economics Ye Wenhua 2 Hours ago

On September 29, the self-discipline mechanism of Hainan's banking foreign exchange and cross-border RMB exhibition industry voted to pass the Operational Guidelines for Cross-border Transfer of Trade Financing Assets in China (Hainan) Free Trade Port, which is another important financial innovation rule that has been implemented since the release of the overall plan of Hainan Free Trade Port. As soon as the guidelines were issued, Hainan Branch of Bank of Communications cooperated with Macao Branch of Bank of Communications to successfully handle the first cross-border transfer of domestic trade financing assets in Hainan Free Trade Port of 14.041 million yuan.

“Under the support and guidance of the People's Bank of China and other regulatory authorities and relevant government departments, we have arranged relevant financial assets that meet the requirements. We have made full use of BOCOM's customer resources and overseas distribution advantages, seized the policy opportunity of expanding the cross-border use and two-way circulation of RMB, and successfully launched our first business in cooperation with BOCOM Macao Branch. " Introduction by the relevant person in charge of Hainan Branch of BOCOM.

Previously, BOCOM Macau Branch took the lead in opening the first cross-border RMB interbank current account in the Hainan Free Trade Port market in Hainan Branch of Bank of Communications, laying a solid foundation for the smooth development of business on September 29. While realizing the cross-border two-way flow and innovative use of RMB funds, this business effectively reduces corporate financial costs and serves the construction of Hainan Free Trade Port with financial innovation.

Bank of Communications has paid close attention to and actively participated in the construction of Hainan Free Trade Port. It has made a lot of useful explorations and attempts in implementing the financial innovation policy and financial product innovation of Hainan Free Trade Port, and has landed a number of first-order businesses of Hainan Free Trade Port. At the same time, make full use of the "two markets" and "two resources" at home and abroad to promote the cross-border two-way flow of RMB funds and enhance the comprehensive financial service capability to the real economy.

The relevant person in charge of the Hainan branch of BOCOM said, In the next stage, BOCOM will give full play to its advantages in international and integrated operation, strengthen coordination with the Head Office and domestic and overseas peers, make full use of the five-in-one cross-border financial account service system of "domestic account, NRA account, FT account, offshore foreign currency account and offshore RMB account", and fully support the financial innovation practice of Hainan Free Trade Port. (Ye Wenhua, Analyst)