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First financial institution in Qinzhou Port Area established

Posted by: Release time:2019-09-02

Recently, the BOC (Bank of China) Branch for Qinzhou Port Area of China (Guangxi) Pilot Free Trade Zone was inaugurated, which not only marks the full service of Bank of China provided for Qinzhou Port Area, but also improves enterprises' sense of acquiring when innovating in the free trade financial system.

On the same day, this branch takes advantage of integration of the Bank of China at home and abroad, cooperates with Seoul Branch of the Bank of China, uses cross-border linkage to issue the first cross-border RMB loan of 29.4 million yuan of Qinzhou Port Area to Qinzhou International Container Terminal Co., Ltd., to realize the adjustment of the traditional domestic trade financing model to the overseas financing mode directly docking with overseas market, and make the overall enterprise financing costs reduce. With comprehensive global supply chain financial services such as cross-border credit insurance financing, it processes the first cross-border RMB letter of credit of 20.39 million yuan for Guangxi Jingui Pulp and Paper Co., Ltd. in Qinzhou Port Area, helping the enterprise effectively avoid the risk of exchange rate market fluctuations, saving the cost of foreign exchange purchase, promoting trade convenience, adding financial impetus for enterprises in the pilot free trade zone to "go abroad" and "bring in" projects.