On June 11, Bank of China Qinzhou Branch used the China-Malaysia Qinzhou Industrial Park financial innovation to facilitate cross-border RMB two-way flow facilitation pilot policy to successfully handle a 3 million yuan cross-border RMB financing for Guangxi Ant Foreign Goods Supply Chain Management Co., Ltd. Payment business marks the implementation of financial innovation and two-way flow facilitation business in China-Malaysia Qinzhou Industrial Park.
The China-Malaysia Qinzhou Industrial Park is the third international park in China jointly constructed by the governments of China and Malaysia. The park and the Malaysia-China Kuantan Industrial Park have jointly created a new model of "two-country double park" international cooperation.
It is reported that under the pilot policy for the facilitation of cross-border RMB two-way flow, companies on the whitelist can directly handle cross-border RMB under capital items such as direct investment, cross-border financing, and other investments in the "two countries and two parks" with direct payment instructions. For income and expenditure business, there is no need to submit authenticity certification materials in advance and one by one, which reduces the cost of capital and exchange, and makes the in and out of funds more free and convenient.
It is understood that with the guidance and assistance of the People’s Bank of China’s Qinzhou City Center Sub-branch, the Management Committee of the China (Guangxi) Pilot Free Trade Zone Qinzhou Port Area (hereinafter referred to as the Qinzhou Port Area) actively promotes the deepening of the financial innovation pilot work in the China-Malaysia Qinzhou Industrial Park To effectively promote the successful handling of the business. The business handled this time is for companies to raise RMB financing to domestic companies through overseas subsidiaries. The business operation time has been shortened from about 3 hours before to 20 minutes now, saving time and cost and greatly improving the efficiency of corporate financing RMB cross-border settlement .
In advancing the financial innovation pilot work in China-Malaysia Qinzhou Industrial Park, the Management Committee of Qinzhou Port Area actively improved the “whitelist” management of financial innovation pilot enterprises in China-Malaysia Qinzhou Industrial Park. The Nanning Center Branch of the Bank reviewed and agreed that as of June 10, a total of 43 whitelisted enterprises of the financial innovation pilot enterprises in the China-Malaysia Qinzhou Industrial Park were announced to the pilot banks.
It is reported that the management committee of the Qinzhou Port Area will focus on key points in the next step. On the one hand, focusing on the facilitation of investment and financing, increase investment promotion, introduce more new entities and financial enterprises, promote the accelerated development of the industry, and continue to expand the pilot enterprises." "Whitelist" will help to form new business increments. On the other hand, through financial innovation, the level of financial services to the real economy will be improved, the implementation of pilot financial innovation policies will be more effectively promoted, and the high-quality development of enterprises will be promoted.
(Source: China News.com original title: Financial innovation cross-border RMB two-way flow facilitation pilot business in China-Malaysia Qinzhou Industrial Park successfully landed)
