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Bank of China Transacted the First Centralized Operation Management Business of Foreign Exchange Funds of the Free Trade Zone

Article From:Chinanews.com. Henan news   Time:2017/11/21 17:20:41 【Size:B M SPrint
  Chinanews.com.Henan news.June 5.Henan Branch of the State Administration of Foreign Exchange the other day issued the approval to Henan Tongzhou Cotton Trade Co.,Ltd for conducting centralized operation management business of multinational enterprise foreign exchange funds.The business is the first multinational enterprise foreign exchange centralized operation project approved by Henan Branch of the State Administration of Foreign Exchange since the new financial policy of the free trade zone was issued and the first service of foreign exchange centralized operation management in the free trade zone offered by Henan Branch of the Bank of China as well.


  The business of multinational enterprise foreign exchange fund centralized operation management is a facilitation measure introduced by the State Administration of Foreign Exchange to help multinational enterprises to facilitate the settlement of internal cross-border capital and improve the operation efficiency of internal capital.After Zhengzhou Central Sub-branch of the People’s Bank of China and Henan Branch of the State Administration of Foreign Exchange jointly issued the Opinions on Supporting the Development of China(Henan)Pilot Free Trade Zone on May 2,Henan Branch of the Bank of China made an active response in the first place,successfully signing a service agreement with Henan Tongzhou Cotton Trade Co.,Ltd in the free trade zone on multinational enterprise foreign exchange fund centralized operation management relying on brand-new foreign exchange polices on free trade.Tongzhou Cotton Trade Co.,Ltd is an international enterprise group specializing in cotton purchase and processing,cotton textile production,import and export trade,international investment and financing,real estimate development,mining development and warehousing and logistics,having set up offices or branches in Uzbekistan,India,the US,Brazil,Australia,Vietnam,Bengal,Pakistan,West Africa,and other cotton producers.The successful approval for foreign exchange centralized operation business will help the company connect domestic and foreign capital pools and reduce difficulties and costs of overseas financing,and provide facilitation for the company to monitor overseas funds and implement the strategy of“going abroad”.


  As the main bank for business,to help achieve success in business,Henan Branch of the Bank of China actively cooperated with the applicant enterprise in completing collection of relevant application materials,signed relevant business transaction confirmation letters,submitted complete service plans to regulatory bodies,and obtained the notice of agreeing to put on record from Henan Branch of the Station Administration of Foreign Exchange.The bank made an all-round effort to advance the progress of the business from communication and coordination with regulatory bodies,customer marketing,policy integration,program formulation,system building and other aspects,and gained the qualification as the main bank,reflecting the professional and system strengths of the Bank of China in multinational enterprise foreign exchange fund centralized operation management.Next,Henan Branch of the Bank of China will make full use of its own professional strengths and service experience to provide domestic and foreign currency fund centralized operation services for more multinational enterprises in the free trade zone and help enterprises improve global fund management models and fund management efficacy,giving full support for the sound development of the real economy of Henan Free Trade Zone with the best financial services.(Cai Hongwei)