Shenzhen issues 24 financial measures to support foreign trade.

　　On July 6th, in order to further implement the decision-making arrangements of the CPC Central Committee and the State Council, increase financial support for stabilizing foreign trade and foreign investment, and give full play to the role of financial services in the real economy, Shenzhen Central Sub-branch of the People’s Bank of China, Shenzhen Branch of the State Administration of Foreign Exchange, Shenzhen Municipal Bureau of Commerce, Shenzhen Supervision Bureau of the Bank of China Insurance Regulatory Commission, and Shenzhen Local Financial Supervision Administration issued the Guiding Opinions on Shenzhen’s Financial Support for Stable Scale and Excellent Structure of Foreign Trade, which mainly showed three characteristics.

　　First, focus on problem-oriented and accurately grasp the direction of force. Based on in-depth investigation and study, the drafting focuses on finding out the situation and problems, and puts forward effective countermeasures, which has strong pertinence and operability, can solve the urgent difficulties and worries of foreign trade enterprises in time, and effectively help them out.

　　The second is to coordinate the current and long-term and accelerate the innovation drive. On the one hand, focus on the difficulties in the field of foreign trade at this stage and put forward solutions; On the other hand, it also takes into account the long-term, improves the financial environment for foreign trade development, actively cultivates new kinetic energy of foreign trade, and promotes the innovative and standardized development of new foreign trade formats and new models.

　　The third is to fully mobilize policy resources and form a synergy. It has fully integrated the existing financial support foreign trade policies, covering financing, settlement, credit insurance, exchange rate risk management and other contents, deeply integrated with the development policy of Shenzhen’s foreign trade industry, and organically combined the management services of financial institutions and regulatory authorities to co-ordinate risk prevention and steady growth.

　　There are 24 specific measures in four aspects in the Guiding Opinions of Shenzhen Financial Support for Stable Scale and Excellent Structure of Foreign Trade. First, increase import and export credit support to help foreign trade enterprises reduce costs and increase efficiency. Encourage financial institutions to do a good job in credit supply in foreign trade, actively meet the foreign trade financing needs of private, small and medium-sized enterprises, and use monetary policy tools to support the development of foreign trade enterprises; Innovate credit products, stabilize and expand import and export in key areas, and develop foreign trade supply chain finance; Cultivate and expand export credit insurance policy financing, and expand the use of RMB in cross-border trade financing. The second is to optimize cross-border settlement services and promote the innovative development of foreign trade. Encourage financial institutions to improve the facilitation level of cross-border trade revenue and expenditure, broaden the channels for cross-border settlement of new foreign trade formats, and promote the standardized and innovative development of cross-border e-commerce, market procurement trade, and comprehensive foreign trade services; Encourage banks and related institutions to facilitate cross-border settlement of major trading platforms, improve the efficiency of cross-border use of local and foreign currency funds, and support domestic and foreign linkage of cross-border trade settlement. The third is to enrich supporting financial support and optimize the financial environment for foreign trade development. Encourage banks to serve foreign trade enterprises to enhance their ability to cope with exchange rate risks and reduce operational risks; Support financial institutions to promote the application of cross-border financial service platform scenarios, participate in the construction of cross-border trade big data platforms, and promote the docking of banks, enterprises and enterprises; Accelerate the implementation of "30 financial support for Qianhai". The fourth is to do a good job in the implementation of the work and give full play to the effectiveness of the policy. All financial institutions are required to strengthen the promotion of foreign trade financial policies and products and services, strengthen the empowerment of science and technology, and strengthen the organization and implementation.

　　Foreign trade is an important part of the national economy. Promoting the stable scale and excellent structure of foreign trade plays an important supporting role in stabilizing growth and employment, building a new development pattern and promoting high-quality development. As an export-oriented economic city, Shenzhen’s foreign trade export ranks first among large and medium-sized cities in China for 30 years in a row. It is of great significance to promote the stable scale and excellent structure of foreign trade to stabilize the economic market. In the next step, the People’s Bank of Shenzhen and the Shenzhen Foreign Exchange Bureau will cooperate with the Municipal Bureau of Commerce, the Shenzhen Banking Insurance Regulatory Bureau and the Municipal Finance Bureau to supervise the financial institutions within their jurisdiction to implement the Guiding Opinions, continuously improve the real economic capacity of financial services, and provide financial guarantee for the high-quality development of Shenzhen’s foreign trade.