By Yuling Chen, iChongqing News
Chongqing- According to the Chongqing Local Financial Supervision and Administration, China (Chongqing) Pilot Free Trade Zone (CFTZ) has achieved cross-border financing worth about USD 5 billion in two years. Chongqing in Southwest China has established a cross-border investment and financing channel leading the west.
China (Chongqing) Pilot Free Trade Zone
2019 marks the second anniversary of CFTZ since its unveiling ceremony in 2017. The Chongqing Local Financial Supervision and Administration has focused on building a modern financial system by continuously promoting the application and spreading of 27 policies, the implementation of 42 projects, and the opening of 32 financial institutions. All these serve as useful exploration for enterprises to use domestic and international markets, to reduce difficulties and costs for corporate financing. Based on them, the policy effect appeared, the market vitality improved and the financial environment continued to better.
The Chongqing Local Financial Supervision and Administration mentioned nine typical cases, such as sea-rail multimodal transport, real estate trust listing, railway bill of lading letter of credit, supply chain finance, aircraft leasing, and cross-border factoring.
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