General

In recent years, international trade innovation has accelerated, and new trade models have emerged, becoming a new driving force for the development of foreign trade enterprises. In order to support the development of the new trade model, the Shandong Branch of the State Administration of Foreign Exchange actively implements the requirements of the People's Bank of China and the State Administration of Foreign Exchange on Issues Concerning Supporting the Development of New Offshore International Trade, optimizes the fund settlement process, strengthens risk monitoring and prevention, and guides banks to base themselves on the "essential". The principle of "emphasis on form" facilitates the settlement of cross-border funds for new offshore international trade of enterprises, promotes the innovation and development of enterprises, and effectively improves the level of trade facilitation.

It is understood that the goods involved in the new offshore international trade do not actually enter and exit my country's front-line customs borders or are not included in my country's customs statistics. The flow of goods does not match the flow of funds, and it is difficult to verify the authenticity. In order to better facilitate the settlement of new offshore international trade funds for enterprises, the Shandong Branch of the State Administration of Foreign Exchange has strengthened policy transmission and encouraged banks to optimize financial services. Simplify the procedures, facilitate the settlement of cross-border funds for enterprises, and promote the healthy and sustainable innovation and development of new formats and models of foreign trade.

At the same time, in order to better support enterprises to carry out new offshore international trade and facilitate cross-border capital settlement, the Shandong Branch of the State Administration of Foreign Exchange guided banks to strengthen risk prevention, issued business-related operational guidelines and management measures in a timely manner, and strengthened policy training, data reporting, Business monitoring and other work, consolidate the bank's penetrating review and substantive management responsibilities for customer entities, business origins and related transactions, and prevent fraudulent trade, structured transactions and other violations of laws and regulations.

Relevant business personnel of Bank of China Liaocheng Branch said: "In order to improve the convenience of cross-border capital settlement for enterprises' new offshore international trade, under the guidance of the Shandong Branch of the State Administration of Foreign Exchange, the provincial branch has timely issued new offshore international trade business management measures, detailing It has fulfilled the requirements for customer access, business development investigation, and self-examination, effectively optimized the cross-border capital settlement of new offshore international trade of enterprises, and effectively improved the ability of business personnel to prevent violation risks."

In the next step, the Shandong Branch of the SAFE will further respond to market demands, allow more market players to enjoy the benefits of the facilitation policy, continue to encourage banks to optimize financial services, and provide cross-border services for honest and law-abiding enterprises to carry out authentic and compliant new offshore international trade. Fund settlement is convenient.