China (Shanghai) free trade zone

China (Shanghai) free trade zone

September 29, will usher in China (Shanghai) free trade zone listed on the third anniversary of the test, as the first test a free trade zone, Shanghai free trade zone on the test system innovation, financial reform, management bold attempt to form a It can be extended to a number of effective experience of other FTA test area. Construction Bank Shanghai Branch, vice president of Wuyi Jiang said that three years of free trade financing accounts over 560 billion yuan in Shanghai FTA pilot area.
Vice President FTA Shanghai Lixin Accounting Institute of Finance Xiao Hua in an interview with this reporter, said Shanghai FTA pilot area was established three years, mainly in the financial regulatory reform is to hold regional systemic risk does not occur as a precondition, steady promote capital account convertibility and opening up the financial services sector, we made a more significant results. Free cross-border trade account liquidity regulatory practices, not only for low-cost funds into the foreign shanghai escorts enterprises in the area of convenience, but also to prevent the risk of cross-border capital flows, to other FTA test area has a certain reference.
Reporters learned that, as of the end of July 2016, the number of banking institutions Shanghai Free Trade test area a total of 464, 34 more than last month increase in April Shanghai Free Trade test area expanding area, including branches and agencies amounted to more than 164.
Shanghai Banking Regulatory Bureau released the latest data show that Shanghai FTA pilot area banking running smoothly, free trade is more concentrated business focus, cross-border lending, total assets and total liabilities under FT term growth momentum has been maintained.
Wuyi Jiang said that the three years to create a new account free trade zone in Shanghai Free Trade test (abbreviated FT accounts) Ultra 55000, FT account financing over 560 billion yuan.