It was learned from the symposium on financial support for the development of the Shandong Pilot Free Trade Zone (Jinan Area) held on August 29 that the implementation plan for the pilot financial reform of the Shandong Pilot Free Trade Zone (Jinan Area) was released, mainly including attracting foreign-funded financial institutions to gather, promoting Two-way opening of cross-border investment and financing, enhancement of financial service functions, establishment and improvement of financial risk prevention and control system and 20 measures in four aspects.
Attract foreign financial institutions to gather
Actively strive for the first implementation of the national financial opening policy in the Jinan area of the Shandong Free Trade Zone, cancel the restrictions on the proportion of foreign ownership of banks and financial asset management companies, and support foreign banks to set up branches and sub-branches in the Shandong Free Trade Zone Jinan area at the same time; promote local corporate finance Institutions and qualified enterprises cooperate with foreign capital to initiate the establishment of licensed financial institutions such as foreign-owned securities companies, fund management companies, futures companies, insurance companies, trust companies, financial leasing companies, consumer finance companies, etc. in the Jinan area of Shandong Free Trade Zone ; Vigorously support the development of financial intermediary service agencies such as foreign-funded non-bank payment institutions, foreign-funded credit reporting agencies, insurance agencies, and insurance assessment agencies in the Jinan area of Shandong Free Trade Zone.
Actively strive for well-known overseas exchanges to set up representative offices in the Jinan area of Shandong Free Trade Zone, to facilitate the contact between local enterprises and well-known overseas exchanges, and to promote overseas financing of local enterprises. Promote business cooperation between local and regional equity trading markets and foreign equity markets.
Promote the two-way opening of cross-border investment and financing
Encourage and support banks in the area to issue RMB loans to overseas projects based on real needs and prudent principles to meet the financing needs of "going global" enterprises for overseas investment, project construction, project contracting, and large-scale equipment export.
Encourage the establishment of RMB overseas funds in the Jinan area in accordance with regulations to raise RMB funds from domestic and foreign institutions, and provide investment and financing services for enterprises to carry out overseas investment and cross-border mergers and acquisitions of overseas technological achievements, R&D institutions, and corporate equity.
Carry out the Renminbi Qualified Foreign Limited Partner (RQFLP) business on a pilot basis, allowing foreign institutional investors to directly invest in overseas Renminbi legally obtained in foreign-invested equity investment enterprises established in the Jinan area of the Shandong Free Trade Zone, and broaden the channels for offshore Renminbi funds to invest in the Jinan market .
Enhancing Financial Services Functions
Actively promote local financial holding groups to create a comprehensive financial business with complete financial formats, efficient coordination of various financial sectors, and full-chain investment and financing service capabilities through wholly-owned, holding, equity participation, capital increase and share expansion, mergers and reorganizations, establishment, and fund investment. group. Encourage local corporate banks to cooperate with external equity investment institutions to carry out business, provide "equity and debt" investment and financing services for enterprises, and improve the cooperation mechanism of "using loans to lead investment and investing to supplement loans".
Support well-known domestic and foreign fund management institutions to set up regional headquarters or branches in the Jinan area, simplify handling procedures, open green channels, provide "one-stop" services, and facilitate the registration of various private equity investment institutions in the area.
Establish and improve the financial risk prevention and control system
Strengthen the application of regulatory technology, improve the local financial monitoring and early warning system, use big data, cloud computing and other technologies to conduct penetrating supervision, dynamic monitoring, and real-time early warning to improve regulatory efficiency. Explore the establishment of a cross-border capital flow risk supervision mechanism, conduct comprehensive monitoring and evaluation of cross-border receipts and payments of enterprises, and implement classified management.
Establish a joint conference on anti-money laundering, anti-terrorist financing, and anti-tax evasion in the Jinan area of the Shandong Free Trade Zone, and strengthen the inter-departmental "three antis" work organization and coordination mechanism. Starting from strengthening the monitoring of abnormal transactions, comprehensively use information such as foreign exchange transaction monitoring, cross-border RMB transaction monitoring, and anti-money laundering fund transaction monitoring to timely discover cross-border money laundering and terrorist financing risks.
