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2020-03-27http://www.gov.cn/xinwen/2020-03/26/content_5495902.htm
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2020-03-18http://www.gov.cn/xinwen/2020-03/17/content_5492448.htm
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3月23日下午，怀化市中心支局外汇科党支部组织全体党员员开展专题学习，全文学习怀化市中心支局许立新局长在怀化市中支主题教育总结会议上的讲话《不忘初心再出发 砥砺奋进谱新篇》讲话。 怀化市中心支局许立新局长在“不忘初心、牢记使命”主题教育总结大会上的讲话，对巩固拓展主题教育成果、不断深化党的自我革命、持续推动不忘初心和使命教育提出了部署，明确了要求。外汇科支部迅速传达、贯彻落实“不忘初心、牢记使命”主题教育总结大会精神。要求全体党员将不忘初心、牢记使命作为加强支部建设的永恒课题，认真学习领会习近平总书记的重要讲话精神和许立新局长讲话精神，以主题教育的实效引领支部党建和业务工作，为履职尽责服务。 一是坚持政治引领，筑牢理想信念。始终把深入学习贯彻新时代中国特色社会主义思想作为首要政治任务，继续在读原著、学原文、悟原理上下功夫，抓实抓细各层级学习教育，在立根固魂上下功夫，指导党员在学习中取得收获。 二是坚持使命担当，破解履职难题。注重发扬主题教育中激发出的精神动力，转化为真抓实干、破解难题的生动实践，着力在优化金融服务、防范金融风险、强化金融管理上下功夫，找准主题教育的落脚点，实现从严治党与业务工作相融合，中心工作提档进位与为民服务破解难题相统一。 三是坚持教育常态，推进外汇工作。要紧扣“初心”和“使命”的担当职责，通过学习、调研了解实际情况，落实外汇政策需求，做好外汇服务，积极服务实体经济，面对疫情带来的困难和挑战，我们更要积极主动作为，靠前服务，继续落实精准防控措施，维护正常有序办公秩序，为银行及企业的复工复产工作提供支持和保障。 2020-03-25/hunan/2020/0325/1338.html
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近期常德市中心支局组织召开局务会，外汇局全体成员集中学习了党中央、上级行（局）关于支持疫情防控有关工作要求。 会议指出，疫情就是命令，防控就是责任。中心支局全体成员要切实提高政治站位，树牢大局意识，坚决落实好有关支持疫情防控的各项决策部署，坚持疫情防控和重点工作“两手抓 两不误”，开通外汇绿色通道，积极助力企业复工复产。 会上进一步传达学习了全省外汇管理工作会议精神，深入分析了当前外汇管理形势，明确了2020年全市外汇管理工作重点，要求突出做到“四讲”：一是讲政治，二是讲政策，三是讲服务，四是讲业绩。 2020-03-24/hunan/2020/0325/1337.html
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近期国家外汇管理局永州市中心支局与江华瑶族自治县人民政府共同举办了永州市金融“暖春行动”暨外汇、信贷服务县区行启动仪式。国家外汇管理局永州市中心支局袁曙光局长、12家金融机构负责人，县直相关单位主要负责人和部分企业家代表80余人参加仪式。中共永州市委常委、江华县委书记罗建华，永州市人民政府副市长李旦梅也出席了启动仪式并做了重要指示。 启动仪式上，江华企业联合会会长代表园区企业进行了企业诚信守信倡议。国家外汇管理局永州市中心支局与江华瑶族自治县人民政府签署金融支持地方经济发展战略合作框架协议。各银行业金融机构分20个批次与辖内有关涉外企业签订贷款意向协议，总计对接项目36项，金额10.77亿元，其中现场签约项目21个，金额8.51亿元；场外签约项目15个，金额2.26亿元。 对受疫情影响，暂时无法正常归还贷款的企业通过延期还款、分期还款、展期、无还本续贷等措施帮助企业度过难关。同时加强“行长进民企”、“银行进千企”等融资对接活动。切实提高精准服务水平。 这次启动仪式是永州市优化“暖春行动”金融服务手段的有效举措。切实解决了企业融资难、融资贵、融资慢等问题，进一步加强政企营互信合作，保持了投资强力拉动和资金有效供给。为推动本市重点涉外企业高质量发展，全面打胜疫情防控战提供了强有力的支持。 2020-03-25/hunan/2020/0325/1339.html
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国家外汇管理局统计数据显示，2020年2月，中国外汇市场（不含外币对市场，下同）总计成交12.20万亿元人民币（等值1.74万亿美元）。其中，银行对客户市场成交2.18万亿元人民币（等值3119亿美元），银行间市场成交10.02万亿元人民币（等值1.43万亿美元）；即期市场累计成交4.82万亿元人民币（等值6891亿美元），衍生品市场累计成交7.38万亿元人民币（等值1.06万亿美元）。 2020年1-2月，中国外汇市场累计成交25.63万亿元人民币（等值3.69万亿美元）。（完） 注：受疫情影响，湖北等地区部分银行数据未完成报送，银行对客户市场数据为部分金融机构上报的数据。 2020-03-27/safe/2020/0327/15821.html
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According to the statistics of the State Administration of Foreign Exchange (SAFE), the Chinese foreign exchange market (excluding foreign currency pairs, the same below) recorded total transaction of RMB 12.20 trillion (equivalent to USD 1.74 trillion) in February 2020. Specifically, the transaction volume of the bank to customer market was RMB 2.18 trillion (equivalent to USD 311.9 billion), the transaction volume of interbank market was RMB 10.02 trillion (equivalent to USD 1.43 trillion), the cumulative transaction volume of the spot market was RMB 4.82 trillion (equivalent to USD 689.1 billion), and that of the derivatives market was RMB 7.38 trillion (equivalentto USD 1.06 trillion). From January to February 2020, a total of RMB 25.63 trillion (equivalent to USD 3.69 trillion) was traded in the Chinese foreign exchange market. Because some of the banks have not been able to submit data due to the disease caused by COVID-19, the data for customer market is incomplete. 2020-03-27/en/2020/0327/1657.html
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As at the end of 2019, China’s external financial assets reached USD 7714.5 billion, external financial liabilities reached USD 5590.5 billion, and net external assets totaled USD 2124.0 billion. In the external financial assets, direct investment assets amounted to USD 2094.5 billion, portfolio investment assets, USD 646.0 billion, financial derivative assets, USD 6.7 billion, other investment assets, USD 1744.3 billion, and reserves assets, USD 3222.9 billion, accounting for 27 percent, 8 percent, 0.1 percent, 23 percent and 42 percent of external financial assets respectively. In external liabilities, direct investment liabilities were USD 2928.1 billion, portfolio investment liabilities, USD 1364.6 billion, financial derivative liabilities, USD 6.5 billion and other investment liabilities, USD 1291.3 billion, accounting for 52 percent, 24 percent, 0.1 percent and 23 percent of the external financial liabilities respectively. In SDR terms, China’s external financial assets and liabilities reached SDR 5578.7 billion and SDR 4042.8 billion respectively, and external net assets totaled SDR 1536.0 billion at the end of 2019. The SAFE has revised the IIP data for each quarter since 2018 according to the latest data，and released it through the section of "Data and Statistics" at the official website of the SAFE. In addition, in order to facilitate understanding of China’s International Investment Position among all social groups, the BOP Analysis Team of the SAFE released China's Balance of Payments Report 2019. (End) China's International Investment Position, End of 2019 Item Line No. Position in 100 million USD Position in 100 million SDR Net Position 1 21,240 15,360 Assets 2 77,145 55,787 1 Direct Investment 3 20,945 15,147 1.1 Equity and Investment Fund Shares 4 17,811 12,880 1.2 Debt Instruments 5 3,135 2,267 1.a Financial Sectors 6 2,839 2,053 1.1.a Equity and Investment Fund Shares 7 2,739 1,981 1.2.a Debt Instruments 8 100 72 1.b Non-financial Sectors 9 18,107 13,094 1.1.b Equity and Investment Fund Shares 10 15,072 10,899 1.2.b Debt Instruments 11 3,035 2,195 2 Portfolio Investment 12 6,460 4,671 2.1 Equity and Investment Fund Shares 13 3,738 2,703 2.2 Debt Securities 14 2,722 1,968 3 Financial Derivatives (other than reserves) and Employee Stock Options 15 67 49 4 Other Investment 16 17,443 12,614 4.1 Other Equity 17 84 61 4.2 Currency and Deposits 18 4,179 3,022 4.3 Loans 19 6,963 5,035 4.4 Insurance, Pension, and Standardized Guarantee Schemes 20 135 97 4.5 Trade Credit and Advances 21 5,604 4,053 4.6 Others 22 479 346 5 Reserve Assets 23 32,229 23,307 5.1 Monetary Gold 24 954 690 5.2 Special Drawing Rights 25 111 80 5.3 Reserve Position in the IMF 26 84 61 5.4 Foreign Exchange Reserves 27 31,079 22,475 5.5 Other Reserve Assets 28 0 0 Liabilities 29 55,905 40,428 1 Direct Investment 30 29,281 21,175 1.1 Equity and Investment Fund Shares 31 26,748 19,343 1.2 Debt Instruments 32 2,533 1,832 1.a Financial Sectors 33 1,605 1,161 1.1.a Equity and Investment Fund Shares 34 1,426 1,031 1.2.a Debt Instruments 35 179 129 1.b Non-financial Sectors 36 27,676 20,014 1.1.b Equity and Investment Fund Shares 37 25,321 18,311 1.2.b Debt Instruments 38 2,354 1,703 2 Portfolio Investment 39 13,646 9,868 2.1 Equity and Investment Fund Shares 40 8,617 6,231 2.2 Debt Securities 41 5,029 3,636 3 Financial Derivatives (other than reserves) and Employee Stock Options 42 65 47 4 Other Investment 43 12,913 9,338 4.1 Other Equity 44 0 0 4.2 Currency and Deposits 45 4,245 3,070 4.3 Loans 46 4,605 3,330 4.4 Insurance, Pension, and Standardized Guarantee Schemes 47 135 97 4.5 Trade Credit and Advances 48 3,644 2,635 4.6 Others 49 189 136 4.7 Special Drawing Rights 50 97 70 Notes:1. This table employs rounded-off numbers. 2.Net International Investment Position refers to assets minus liabilities. Positive figure refers to net assets, and negative figure refers to net liabilities. 3.The SDR denominated data is converted from the USD denominated data, using the exchange rate of SDR against USD at the end of the quarter. 2020-03-27/en/2020/0327/1660.html
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In first two months of 2020,China’s international trade in goods and services recorded receipts of RMB 2194.3 billion and payments of RMB 2456.9 billion based on statistics of balance of payments (BOP), registering a deficit of RMB 262.6 billion. Specifically, trade in goods registered receipts of RMB 1955.6 billion,payments of RMB 1991.7 billion, recording a deficit of RMB 36.1 billion;trade in services recorded receipts of RMB 238.7 billion,payments of RMB 465.2 billion, resulting in a deficit of RMB 226.6 billion. In the US dollar terms, in first two months of 2020, China's BOP-based receipts and payments of international trade in goods and services were USD 315.3 billion and USD 353.1 billion respectively, registering a deficit of USD 37.7 billion.Specifically, the receipts and payments from trade in goods were USD 281 billion and USD 286.2 billion respectively, resulting in a deficit of USD 5.2 billion. Trade in services registered receipts and payments of USD 34.3 billion and USD 66.9 billion respectively, recording a deficit of USD 32.6 billion. (End) InternationalTrade in Goods and Services of China (Based on the BOP statistics) January to February 2020 Item In 100 million of RMB In 100 million of USD Goods and services -2626 -377 Credit 21943 3153 Debit -24569 -3531 1. Goods -361 -52 Credit 19556 2810 Debit -19917 -2862 2. Services -2266 -326 Credit 2387 343 Debit -4652 -669 2.1Manufacturing services on physical inputs owned by others 158 23 Credit 163 23 Debit -5 -1 2.2Maintenance and repair services n.i.e 42 6 Credit 68 10 Debit -26 -4 2.3Transport -530 -76 Credit 467 67 Debit -997 -143 2.4Travel -2089 -300 Credit 237 34 Debit -2326 -334 2.5Construction 12 2 Credit 101 14 Debit -89 -13 2.6Insurance and pension services -62 -9 Credit 33 5 Debit -95 -14 2.7Financial services 15 2 Credit 38 5 Debit -23 -3 2.8Charges for the use of intellectual property -169 -24 Credit 90 13 Debit -259 -37 2.9Telecommunications, computer and information services 11 2 Credit 347 50 Debit -335 -48 2.10Other business services 388 56 Credit 819 118 Debit -430 -62 2.11Personal, cultural, and recreational services -23 -3 Credit 8 1 Debit -31 -4 2.12Government goods and services n.i.e -19 -3 Credit 17 2 Debit -36 -5 Notes: 1. The trade in goods and services in this table refers to the transactions between residents and non-residents, based on the same standard as that for BOP statement. The monthly data are preliminary and may be inconsistent with the quarterly data in the BOP statement. 2. The data on international trade in goods and services are prepared in USD, and the RMB data for the current month is derived by converting the USD data at the monthly average central parity rate of the RMB against the USD. 3. This table employs rounded-off numbers. Definition ofIndicators: Goods and Services: refers to the trade in goods and services between residents and non-residents, which is based on the same standard as that for the BOP statement. 1. Goods:refers to transactions in goods whereby the economic ownership is transferred between the Chinese residents and non-residents. The credit side records export of goods, while the debit side records import of goods. The data of goods account are mainly from the customs statistics of imports and exports, but differ from the statistics of the customs mainly in the following aspects:first, the goods in the BOP statement only reflect the goods whose ownership has been transferred (e.g. goods under the trade modes such as general tradeand processing trade with imported materials), while the goods whose ownership is not transferred (e.g. manufacturing services with supplied materials or with exported materials) are included in the statistics of trade in services instead of the statistics of trade in goods; second, as required by the BOP statistics, the goods imported and exported are valued on the FOB basis, but as required by the customs, the goods exported are valued on the FOB basis, whereas goods imported are on the CIF basis. Therefore, for the purpose of the BOP statistics, the international transport and insurance premiums are taken out from the value of imported goods and included in the trade inservices; and third, the data on net export of goods in merchanting which are not included in the customs statistics are supplemented. 2. Services:includes manufacturing services on physical inputs owned by others,maintenance and repair services n.i.e, transport, travel,construction, insurance and pension services, financial services, charges for the use of intellectual property, telecommunications, computer and information services, other business services, personal, cultural and recreational services, and government goods and services n.i.e. The credit side records services supplied, while the debit side records services received. 2.1 Manufacturing services on physical owned by others: processor only provides processing, assembly, packaging and other services and charges service fee from the owner, while the ownership of the goods is not transferred between the owner and the processor. The credit side recordsthe manufacturing services supplied by the Chinese residents on physical inputs owned by non-residents, and vice versa for debit side. 2.2 Maintenance and repair services: referto the maintenance and repair services supplied by residents to non-residentsor vice versa on goods and equipment (such as vessel, aircraft, and other transportation facility) owned by the receiving party. The credit side recordsthe maintenance and repair services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.3 Transport:refers to the process of transporting people and goods from one place to another, and the relevant supporting and auxiliary services, as well as postaland delivery services. The credit side records the international transport,postal and delivery services supplied by residents to non-residents, and vice versa for debitside. 2.4 Travel:refers to goods consumed and services purchased by travelers in various economies as non-residents. The credit side records the goods and services provided by the Chinese residents to non-residents who have stayed in China for less than one year, as well as non-residents studying abroad and seeking medical treatment for in definite period of stay. The debit side records the goods and services purchased by the Chinese residents when traveling, studying or seeking medical services abroad from non-residents. 2.5 Construction services:refer to the establishment, renovation, maintenance or expansion of fixed assets in the form of buildings, land improvement, roads, bridges and dams and other engineering buildings of engineering nature, relevant installation,assembly, painting, pipeline construction, demolition and project management,as well as site preparation, measurement and blasting and other special services. The credit side records the construction services provided by the Chinese residents outside the economic territory. The debit side records the construction services received by the Chinese residents in the Chinese economic territory from non-residents. 2.6 Insuranceand pension services: refers to various insurance services and commission to agents related with insurance transaction. The credit side records the life insurance and annuity, non-lifeinsurance, reinsurance, standardized guarantee services and relevant supporting services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.7 Financial services: refer to financial intermediation and supporting services, excluding those covered by insurance and pension services. The credit side records the financial intermediation and supporting services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.8 Charges for the use of intellectual property:refer to licensed use of intangible, non-productive/non-financial assets and exclusive rights between residents and non-residents and the licensed use of existing original works or proto types. The credit side records the intellectual property-related services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.9 Telecommunications, computer and information services: refer to communications services between residents and non-residents and transactions of services related to computer data and news, excluding commercial services delivered via telephone, computer and Internet. The credit side records the telecommunications, computer and information services supplied by residents tonon-residents, andvice versa for debit side. 2.10 Other business services: refer to other types of services between residents and non-residents, including research and development services, professional and management consulting services,technical and trade-related services. The credit side records the other business services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.11 Personal,cultural and recreational services: refer to transactions of personal, cultural and recreational services between residents and non-residents, including audiovisual and related services (films,radio, television programs and music recordings) and other personal, culturaland recreational services (health, education, etc.). The credit side records the related services supplied by the Chinese residents to non-residents, and vice versa for debitside. 2.12Government goods and services n.i.e:refer to various goods and services provided and purchased by governments and international organizations not included in other categories of goods and services. The credit side records the goods and services not included elsewhere and supplied by the Chinese residents to non-residents, and vice versa for debit side. 2020-03-27/en/2020/0327/1661.html
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To implement the decisions and arrangements of the CPC Central Committee and the State Council to boost the building of Shanghai into an International Financial Hub, step up financial support for the construction of the Lin-gang Special Area in China (Shanghai) Pilot Free Trade Zone (Lin-gang Special Area) and for the integrated development of the Yangtze River Delta, deepen the supply-side structural reform in the financial community and drive the higher-level opening up and innovation in finance, we put forward our opinions as follows, with approval from the State Council: I. General requirements 1. Serving the high-quality growth of the real economy. Based on the functional positioning and industrial system of Lin-gang Special Area, Shanghai shall pilot more open and convenient financial policies to stably boost RMB internationalization and introduce green financial policies. Shanghai shall accelerate the building of an international financial hub to push ahead with the opening up of the financial industry, optimize the allocation of financial resources and improve the quality and effectiveness of financial services. Shanghai shall also play its leading and radiating role as an international financial hub to improve the systems and mechanisms for financially supporting the integrated development of the Yangtze River Delta and intensify key national strategies such as financial support for coordinated regional development and innovation-driven development. 2. Deepening the reform of financial systems and mechanisms. With a focus on system innovation, Shanghai shall revitalize financial innovation and explore more flexible financial policy systems, regulatory models and management systems. It shall improve the environment for rule of law in finance, and adopt the pre-access national treatment plus negative list management system in all respects. It shall impose equal regulatory requirements on domestic and foreign-funded financial institutions and integrate with the international high-standard rules to boost the high-level opening up of the financial industry. 3. Guarding against systematic financial risks. While ensuring compliance with laws and regulations, risk controllability and business voluntarity, Shanghai shall systematically press ahead with the introduction of innovative measures for financial opening-up and pilot a selection of them in Lin-gang Special Area. It shall also build and refine the financial regulation and coordination mechanisms, improve the prevention and control system against financial risks and apply more financial technology in regulation to ensure our bottom line that systematic financial risks will not occur. II. Boosting financial piloting in Lin-gang Special Area 1. Supporting the development of key industries with global competitiveness in Lin-gang Special Area. (1) Shanghai shall pilot the building of wealth management subsidiaries by eligible commercial banks. It shall encourage them to set up professional subsidiaries in Shanghai in line with the business voluntarity principle to invest in key construction projects and companies that are not listed in Lin-gang Special Area and the Yangtze River Delta. Shanghai shall also encourage insurers to invest in technical innovation investment funds or directly in technical innovation companies in Lin-gang Special Area in compliance with laws and regulations. (2) Shanghai shall support qualified commercial banks in establishing financial asset and investment companies in Shanghai in line with the business voluntarity principle. It shall pilot the creation of professional investment subsidiaries in Shanghai by qualified financial asset and investment companies to participate in business reorganization, equity investment and direct investment in relation to the construction of Lin-gang Special Area and economic restructuring, industry optimization and upgrading, and coordinated development in the Yangtze River Delta. (3) Shanghai shall encourage financial institutions to provide market-based long-term credit for the development of key industries like high-tech and shipping industries in Lin-gang Special Area, to support key technical innovation and R&D projects in the area. Further, it shall encourage financial institutions to provide efficient and convenient financial services for companies in the area to engage in novel foreign trading activities based on the "three business principles", so as to support the development of novel foreign trade. (4) Shanghai shall support financial institutions and large tech companies to incorporate fintech players in the area in compliance with laws to explore the applications of AI, big data, cloud computing and block chain in finance and stress fintech talent development. 2. Promoting trade and investment liberalization and facilitation. (5) For eligible strong companies in Lin-gang Special Area, banks inside the area can follow the "three business principles" to directly handle RMB settlement for cross-border trade and domestic payment with RMB revenues from FDI, cross-border financing and overseas listing based on companies' receipt and payment orders. (6) In Lin-gang Special Area, Shanghai can attempt the cancellation of special RMB capital accounts under FDI and pilot the cross-border cash pool for both foreign and domestic currencies. It shall support eligible multinationals to centralize deficiency transfers and collection of foreign and domestic currencies among domestic and overseas members with funds exchanged based on real demand and shall adopt two-way macro-prudential management of cross-border capital flows. It can also explore transformation and upgrading of foreign exchange administration. (7) In Lin-gang Special Area, Shanghai can pilot cross-border transfers of domestic trade finance assets. It can drive the building of platforms relying on Shanghai Commercial Paper Exchange and relevant digital technology R&D support institutions to handle cross-border transfers of trade finance assets and boost the development of cross-border RMB trade finance. III. Accelerating the opening up of the financial industry in Shanghai at a higher level 1. Boosting high-level opening-up of finance. (8) In compliance with laws and regulations and the business voluntarity principle, Shanghai shall encourage eligible commercial banks to set up wealth management subsidiaries in Shanghai, pilot wealth management JVs between foreign institutions and large banks, and support commercial banks and their wealth management subsidiaries to choose eligible assets managers that are registered in Shanghai as their partners for wealth management and investment. (9) Shanghai shall encourage foreign institutions to set up securities operators and asset managers in Shanghai or to acquire majority stakes in them. It shall push ahead with the relaxation of restrictions on foreign shareholdings in personal insurance from 51% to 100% in Shanghai first. (10) If foreign financial institutions apply for incorporating or minority investment in pension fund managers in Shanghai, Shanghai shall approve them once they are mature. In addition, Shanghai shall encourage insurance asset managers to establish professional asset management subsidiaries, and pilot minority investment of insurance asset managers in wealth management companies incorporated by foreign asset managers in Shanghai. It shall also attempt the piloting of investing in bulk commodities like gold and oil by insurance funds through relevant exchanges in Shanghai. (11) Shanghai shall support eligible non-financial groups to establish financial holding companies in Shanghai. It shall encourage multinationals to establish headquarters-like institutions in Shanghai such as global or regional fund management centers, which can be approved to trade in the interbank foreign exchange markets. Further, Shanghai shall allow financial leasing parent companies and their subsidiaries that are registered in China (Shanghai) Pilot Free Trade Zone to share the external debt quotas. 2. Boosting the building of RMB financial asset allocation and risk management centers. (12) Shanghai shall open up the bond market wider, and further facilitate filing and entry into the market by foreign investors to diversify the type and number of foreign investors. It also shall boost the transformation of domestic settlement correspondent banks towards custodian banks to provide diversified services for foreign investors accessing the interbank bond market. (13) Shanghai shall develop the RMB interest rate and foreign exchange derivatives markets, study and launch RMB interest rate options to diversify foreign exchange options. (14) Shanghai shall optimize the foreign exchange rate risk management under financial investment for foreign institutions to facilitate trading by such institutions in interbank foreign exchange markets to square the position generated by their investments in domestic bond markets. (15) Shanghai shall study how to ramp up the efficiency of integration with laws and systems for global financial markets as an international financial hub, and allow foreign institutions to sign master agreements on derivatives with National Association of Financial Market Institutional Investors (NAFMII), China Securities and Futures Market (SAC) or International Swaps and Derivatives Association (ISDA). 3. Building the high-quality financial business environment by international standards. (16) Shanghai shall accelerate the adoption of the rule of law in finance and the establishment of financial rules and systems integrated with global ones. It shall intensify punishments for illegal financial activities and encourage the piloting of fintech innovations. (17) Shanghai shall boost the reforms that delegate power, improve regulation, and upgrade services, screen documents unfavorable for the growth of private players in Shanghai and dismantle the "hidden doors" for market access. It needs to take a multi-faceted approach to incubating a level playing field. (18) Shanghai shall study and boost Shanghai Financial Court and Shanghai Bankruptcy Court to adapt to the trends in financial markets, step up capability building, increase professionalism in case hearing and strengthen credibility and influence in upholding justice across the world, based on global high-standard practices. IV. Financially supporting the integrated development of the Yangtze River Delta 1. Driving cross-regional collaboration among financial institutions. (19) Shanghai shall take the lead in improving cross-province (city) mobile payment services in the Yangtze River Delta and fueling payment connectivity for public services in the Delta in compliance with laws and regulations. (20) Shanghai shall drive every corporate bank in the Yangtze River Delta to integrate with the exclusive validation channels of legally licensed clearing institutions for opening personal banking accounts and provide cross-validation services for information of connected accounts. (21) Shanghai shall work to strengthen collaboration among financial institutions in the banking sector in the Yangtze River Delta in project planning, project review and rating, credit line verification, repayment arrangements, credit management and risk mitigation, and explore cross-province (city) credit extension mechanisms in the Delta to drive credit flows. It shall support commercial banks to offer merger loans to players in the Delta. Under the existing policy framework, it shall support financial institutions to leverage refinance and rediscount to issue more credit to agricultural firms, rural areas and farmers, pollution control players, tech innovation companies, high-end manufacturers, micro and small businesses and private firms in the Delta. 2. Improving supporting services for finance. (22) Shanghai shall boost institutions related to the G60 High-tech Corridor to issue VC-like bonds, and debt financing instruments, financial bonds, and corporate bonds for starting businesses and innovation, in interbank bond markets and exchange bond markets. (23) Shanghai shall support eligible tech innovation companies to go public, encourage IP service and assessment institutions to develop patent value assessment models or instruments to promote IP transactions and flows. Shanghai also needs to study and provide convenient exchange services to support foreign investors to directly participate in issuance and trading on the STAR market. (24) Shanghai shall establish the integrated and market-based credit system for the Yangtze River Delta to provide professional credit services for society. Relying on the national credit information sharing platform, Shanghai shall further refine the cross-regional credit information sharing mechanism, step up information collection, sharing, development and utilization to serve credit financing by micro and small businesses. It shall also support the Credit Reference Center of the People's Bank of China to fully cover lending information of firms and individuals in the Delta. It shall conduct regulatory cooperation and pilot the building of an off-site regulatory platform for credit institutions in the Delta. (25) Shanghai shall drive the integrated construction of the green financial service platform for the Delta. It shall promote the application of the green financial information management system, boost the connectivity of regional markets for trading environmental rights and accelerate the building of a green project library in the Delta. 3. Building and refining the financial policy coordination and information sharing mechanism in the Yangtze River Delta. (26) Shanghai shall build a unified financial stability assessment system, develop financial stability indices and establish an information sharing mechanism for financial stability in the Delta. It shall build an information sharing platform against financial risks and an information communication mechanism for anti-money laundering. It shall also stress data protection and management and strengthen cooperation on alternative dispute resolution (ADR) of disputes over financial consumption. (27) Shanghai shall boost sharing of financial statistical information in the Delta, and study the centralized detection and analysis framework to perform more forward-looking analysis on the economy and finance. (28) Shanghai shall promote communication on inclusive finance in the Delta, build an inclusive finance index system and prepare analysis reports on inclusive finance index together with other cities in the Delta. V. Protective measures (29) The People's Bank of China Shanghai Head Office shall organize the piloting of strengthening payment and settlement regulatory capabilities, and boost its credit system to build a same-city active-active disaster recovery center in Shanghai. The PBC shall study and drive the building of the Report Library on Trading in China's Financial Markets in Shanghai, integrate trading information on financial markets, improve detection capabilities and interface with relevant construction efforts in Xiong'an New Area. (30) The financial policies already introduced and to be introduced that are applicable to China (Shanghai) Pilot Free Trade Zone, and policy measures for financially supporting trade and investment liberalization and facilitation introduced by the national financial management authorities, if suitable for meeting Shanghai's real needs, can be piloted in Shanghai first. The People's Bank of China Shanghai Head Office shall develop the implementation rules based on the Opinions together with the Shanghai Office of the China Banking and Insurance Regulatory Commission and submit the rules to the competent authority for filing. The People's Bank of China China Banking and Insurance Regulatory Commission China Securities Regulatory Commission State Administration of Foreign Exchange Shanghai Municipal People's Government February 14, 2020 2020-02-14/en/2020/0214/1650.html