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Support the Development of Enterprises in the Free Trade Zone with 110 Financial Preferential Policies
Guide commercial banks to attract more enterprises to settle in Heilongjiang Free Trade Zone by reducing fees and surrendering part of profits
2020- 09- 19 harbin.gov.cn

On September 18, the Financial Support China (Heilongjiang) Pilot Free Trade Zone Harbin Area Development Financing Policy Promotion & Government-Bank-Enterprise Matchmaking Conference was held through online live broadcast, with the main venue in Harbin Area of the Free Trade Zone and the branch venues in the People's Bank of Mudanjiang, Heihe and Suifenhe. More than 30 financial institutions and more than 200 key enterprises attended the on-site conference.

At the conference, the Harbin Central Branch of the PBC (People's Bank of China) and the Heilongjiang Branch of the State Administration of Foreign Exchange jointly issued preferential policies for financial support to Heilongjiang Pilot Free Trade Zone. The policies consist of four parts involving 110 items in total.

It is understood that in order to further enhance the vitality of  free trade zone in Heilongjiang, enlarge and strengthen the total amount, and comprehensively improve the efficiency and quality of financial services, the Harbin Central Branch of the PBC (People's Bank of China), the Heilongjiang Branch of the State Administration of Foreign Exchange, 16 commercial banks and the Sinosure Heilongjiang Branch sorted out and issued preferential financial support policies specifically for enterprises in the Heilongjiang Free Trade Zone, guiding commercial banks to reduce fees and surrender part of profits so as to attract more enterprises to settle in the Free Trade Zone.

The Harbin Central Branch of the PBC (People's Bank of China) launched 4 financial support policies, including

——Develop a higher level of RMB trade and investment facilitation business. High-quality enterprises qualified by the provincial banking self-discipline mechanism can directly handle the cross-border settlement of RMB under the current account at the bank based on the receipt and payment instructions, and use RMB income under capital account for domestic payment without submitting the authenticity certification materials one by one in advance.

——Explore and promote the cross-border transfer of RMB assets in the Free Trade Zone. Enterprises in the Free Trade Zone can explore the cross-border transfer of RMB trade financing assets according to their needs.

——Promote the access of qualified legal person commercial factoring companies in the Free Trade Zone into the credit information system. For those established more than one year, under the recommendation of the local financial supervision bureau, the legal person commercial factoring company in the Free Trade Zone can apply to the local People's Bank for direct access to the credit information system through a special line or an Internet platform according to its own needs.

——Preferentially deploy self-service inquiry machines for personal credit reports in the Free Trade Zone. In order to facilitate the personal credit inquiry needs of residents, the number of new self-service inquiry machines in the Free Trade Zone will be more than that outside the zone.

The Heilongjiang Branch of the State Administration of Foreign Exchange launched 10 foreign exchange support policies, including

——Support foreign institutions in handling foreign exchange derivatives business in Free Trade Zone banks. For foreign institutions that are qualified to carry out spot foreign exchange settlement and sale services in accordance with regulations, the banks in the Free Trade Zone are allowed to handle RMB and foreign exchange derivatives transactions for them.

——Allow foreign exchange settlement in domestic foreign exchange accounts of foreign institutions in the Pilot Free Trade Zone. Banks with registration and business premises in the Free Trade Zone are allowed to handle foreign exchange settlement business of their domestic foreign exchange accounts for foreign institutions.

——Optimize the audit of foreign exchange receipts and payments under current accounts. On the basis of ensuring the authenticity and compliance of business, the bank can independently handle the procedures for the purchase and payment under current account, foreign exchange settlement and transfer in accordance with the business development principle, so as to facilitate the enterprises to handle various international businesses.

——Relax the review conditions of electronic documents for trade in goods. Qualified banks can handle foreign exchange receipts and payments of goods trade for enterprises in the zone with electronic documents instead of physical documents, thus saving the business costs of the enterprises.

——Facilitate market access for insurance foreign exchange insurance business. When applying for foreign exchange insurance business, insurance companies in the Free Trade Zone are exempted from providing copies of the industrial and commercial business license and organization code certificate.

——Simplify the registration procedures of listed enterprises. When registering the "List of Enterprises with Receipt and Payment in Trade in Goods”, enterprises in the Free Trade Zone are exempted from providing the Registration Form of Foreign Trade Operators issued by the Minister of Commerce.

——Allow enterprises in the Free Trade Zone to register, change and cancel the basic information of domestic direct investment at any bank within their jurisdiction.

——Enhance the convenience of choosing cross-border financing modes for enterprises in the Free Trade Zone. Enterprises in the zone are allowed to adjust the mode of borrowing foreign debts from "the difference between investment and registered investment" that they have selected to macro-prudential management mode of cross-border financing, but they shall not change the mode again once adjusted.

——Relax the currency requirements for cross-border financing of enterprises in the zone. The withdrawal currency and repayment current of enterprises in the zone are allowed to be inconsistent with the contracted currency, but the currency of withdrawal and repayment should be consistent.

——Support enterprises in the zone to carry out the centralized operation and management of cross-border funds of multinational companies. For enterprises in the zone which are engaged in the centralized operation and management business of cross-border funds of multinational companies, the balance of income and expense scale of domestic and foreign currencies in the previous year was adjusted from "more than 100 million US dollars" to "more than 50 million US dollars".

16 commercial banks including ICBC Heilongjiang Branch launched 85 preferential policies

16 commercial banks including the ICBC Heilongjiang Branch launched 85 preferential policies, mainly covering import and export trade financing, exchange point spreads, financing interest rates, cross-border settlement fees, offshore financial services, and derivative exchange rates.

In addition, Sinosure Heilongjiang Branch launched 11 supporting policies to support enterprises in the zone to carry out cross-border trade, cross-border investment, export of complete sets of equipment, overseas project contracting and other business.


(From: my399.com )






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