CCTV News: Not only is the sharp relaxation of access restrictions in the financial service industry, the reporter found in the interview that since the beginning of this year, various places are piloting new foreign exchange reform measures, which not only expands the coverage of cross-border investment and financing facilitation policies, but also significantly improves the facilitation of cross-border trade investment and financing for foreign-related enterprises and individuals in my country.
This foreign-related company in Tianjin mainly engages in international freight services. After the increase in corporate orders this year, the monthly freight volume has remained at more than 50 voyages, and the demand for foreign exchange settlement and the use of foreign debt has increased sharply. The company staff told reporters that in the past, every time a business was conducted, they had to go to the Foreign Exchange Bureau to complete the registration procedures and then go to the bank to handle the withdrawal. The longest time, it took nearly three months for the funds to arrive.
At the beginning of this year, the Tianjin Branch of the State Administration of Foreign Exchange issued new regulations, clarifying that when eligible non-financial enterprises in Tianjin can directly handle relevant registration procedures at the bank when borrowing foreign debts, which greatly alleviated the financial pressure of foreign-related enterprises and reduced operating costs.
A series of new policies not only make companies more convenient for cross-border trade settlement and cross-border financing, but also "Cross-border Wealth Management Connect" as a key pilot project for the internationalization of the RMB, also gives residents more choices for overseas investment. The reporter walked into a securities institution located in Nanshan District, Shenzhen and saw staff guiding customers to register for account opening business. You only need to select the "Cross-border Financial Management Connect" business option through the securities company's app on your mobile phone, and upload customer personal information according to the guidelines to complete the account opening.
The pilot project of "Cross-border Financial Management Connect" is simply understood as mainland and Hong Kong and Macao residents in the Guangdong-Hong Kong-Macao Greater Bay Area can invest in each other's financial products across the border through specific channels. After the upgrade in February last year, residents of the Guangdong-Hong Kong-Macao Greater Bay Area can not only invest in financial products such as financial management, deposits, bonds, etc., but also invest in more types of funds in the other party's market.
Since the upgraded version of "Cross-border Financial Management Connect" was launched, it has attracted a large number of investors to participate, and the business scale and transaction activity have been continuously improved. From February last year to February this year, the number of individual investors participating in the "Cross-border Financial Management Connect" surged from 73,400 to 145,300, and the amount of cross-border transfer of funds increased from 15.283 billion yuan to 105.64 billion yuan, an increase of about 6 times year-on-year.
