Several Measures to Support Innovative Development of Financial Industry in Lingang New Zone of China

 2019-09-25  1126


The Administrative Committee of Lingang New Zone of Shanghai Free Trade Zone issued Several Measures to Support Innovative Development of Financial Industry in Lingang New Zone of China (Shanghai) Pilot Free Trade Zone.

                                                                          

In order to enhance the flexible use of cross-border funds, the "Several Measures" proposed to carry out a pilot project to integrate the functions of local and foreign currencies in the free trade account, and explore the free inflow and outflow of capital and free exchange.The funds raised by the inside-area enterprises from abroad, the funds raised by qualified financial institutions from abroad and the income from cross-border services provided may be used independently for the operation and investment activities in the new area and abroad.

 

It will support honest and high-quality enterprises in the region in conducting trials to facilitate foreign exchange receipts and payments.