Pilot Service of Higher-Standard Trade and Investment Facilitation Provided in China (Henan) Pilot Free Trade Zone

Pilot Service of Higher-Standard Trade and Investment Facilitation Provided in China (Henan) Pilot Free Trade Zone

河南自贸试验区更高水平贸易投资便利化试点业务落地

The financial sector of Henan province has been opened up wider. According to Zhengzhou Central Branch of the PBOC, a pilot service of higher-standard trade and investment facilitation was started to provide in China (Henan) Pilot Free Trade Zone from November 19, which means star enterprises can enjoy much faster RMB cross-border settlement at the Zone’s banks to save time and avoid exchange rate risk.

河南省金融开放的大门进一步敞开。11月19日，记者从中国人民银行郑州中心支行获悉，中国（河南）自由贸易试验区更高水平贸易投资便利化试点业务正式落地。今后优质企业在自贸试验区内银行办理跨境人民币结算可以实现“秒”到账，既节约时间成本，又可避免汇率风险。

“In the past, overseas remittance cannot be directly transferred to its business account before the deposit bank’s verification of required documents submitted by the company, including contract, customs declaration and invoice, etc. Moreover, the RMB settlement used to take two or three days at least,” said Mao Ya’nan, senior manager of Henan Branch Transaction Banking Department of the BOC.

“此前，境外汇款到了，企业需要向银行提供交易合同、报关单、发票等相关材料，并经银行核实真伪后，款项才能转到企业账户上，结算过程至少要两三天才能完成。”中国银行河南省分行交易银行部的高级经理毛亚楠介绍。

After the financial pilot, advanced enterprises in Henan can enjoy much quicker RMB cross-border settlement. “To receive transferred money, they only need fill out an ‘Interbank Payment Statement’ online according to the requirements of the banks in China (Henan) Pilot Free Trade Zone,” Mao Ya’nan also introduced that RMB cross-border settlement will be simplified into mouse-clicking without going to banks.

试点之后，河南省内优质企业使用人民币跨境结算可以实现“秒”到账。“企业只需要根据自贸试验区内银行要求填写一份‘收付款说明’电子表格，就能收到银行的转账。”毛亚楠说，试点之后，企业足不出户，点点鼠标就能完成跨境结算。

According to Xu Hongfen, deputy director of Money and Credit Management Office of Zhengzhou Central Branch of the PBOC, the new service will help enterprises save time and avoid possible loss of profit caused by exchange rate fluctuation during previously long settlement period.

中国人民银行郑州中心支行货币信贷管理处副处长徐红芬介绍，试点之后，企业不仅可节约时间成本，还可避免结算期间汇率波动导致利润被“吃掉”的风险。（记者逯彦萃 通讯员蔡星星 编译赵汉青 审校丁岚）