Financial Reform’s New Achievements in Tianjin Pilot FTZ

Tianjin Free Trade Pilot Zone has further promoted the implementation of financial reform and innovation policies. From operation to the end of June this year, 105,000 domestic and foreign currency accounts have been opened by entities in the Zone. The cross-border revenue and expenditure of US$ 264.88 billion was handled. The settlement and sale of foreign exchange of US$ 119.52 billion was handled. Cross-border RMB settlement amounted to RMB523.2 billion, accounting for approximately 40% of the whole Tianjin.

Tianjin Pilot FTZ supports institutions in the Zone to actively use the full-scope cross-border financing policy, and supports group enterprises to carry out cross-border capital centralized operation, facilitating trade investment and financing. In terms of deepening the functions application of FT account, Tianjin Pilot FTZ has vigorously promoted the “FT branch model” and the “full-function cross-border RMB capital pool” to meet the needs of enterprises outside the Zone and in the Beijing-Tianjin-Hebei region to use FT accounts. At the same time, Tianjin Pilot FTZ has highlighted the distinctive advantages of finance leasing and steadily implemented China’s first pilot policy on facilitating foreign debt of finance leasing companies.