According to information provided by relevant departments in Nanning, Guangxi on March 25th, Nanning actively promotes the launch and operation of the China ASEAN Cross border Trade Financial Interconnection Platform, solves the problem of asymmetric information in cross-border trade settlement, accelerates official data cooperation between customs and financial systems, and connects the "China Vietnam Direct Remittance" path for cross-border e-commerce. The China ASEAN Cross border Trade Financial Interconnection Platform is committed to providing financial public services for cross-border trade towards ASEAN. It is the first local public service platform in China to achieve data exchange with China's international trade "single window" and digital government integration platform. The launch of this platform has significantly improved the convenience of foreign trade enterprises in handling foreign exchange business and the efficiency of cross-border settlement. In February of this year, relying on the China ASEAN Cross border Trade Financial Interconnection Platform, Guangxi Beibu Gulf Bank and Vietnam Bank cooperated to carry out a pilot project for cross-border e-commerce settlement. After in-depth discussions, they agreed on remittance documents, and the payment was directly remitted from Vietnam Bank to Guangxi Beibu Gulf Bank, achieving the "three document collision" of cross-border e-commerce transactions, logistics, and customs data. Cross border payments can be completed on the same day, greatly improving settlement efficiency and reducing enterprise exchange losses and risks. Nanning is the capital city of China closest to ASEAN, and is a forefront and hub city for China's open cooperation with ASEAN. In recent years, Nanning has made every effort to promote the construction of the core area of financial openness to ASEAN, and the China ASEAN Financial City has become the main platform for China's financial openness and cooperation with ASEAN. As of February this year, a total of 571 financial enterprises have settled in the China ASEAN Financial City. According to Li Wei, Deputy Director of the Office of the Financial Committee of the Nanning Municipal Party Committee, Nanning has made multiple new breakthroughs in financial reform and opening up. The city has made good use of five innovation platforms, including the Financial Innovation Laboratory, to deepen the pilot projects of five financial reforms and innovations, the integration of domestic and foreign currency bank account systems, and the facilitation of foreign exchange receipts and payments. It has also promoted the establishment of a Vietnamese dong cash transfer center and created a Vietnamese dong cash supply network that radiates across the country. According to statistics, in 2024, the cross-border RMB settlement volume in Nanning reached 475.226 billion yuan (RMB), a year-on-year increase of 22%. Nanning is the city with the largest scale of RMB cross-border settlement in Guangxi. In terms of digital finance, Nanning City takes the opportunity of building a demonstration zone for the application of digital RMB in ASEAN and continuously carries out pilot work on digital RMB. At present, the city has opened a total of 3.242 million digital RMB wallets with a transaction amount of 4.98 billion yuan; 29 pioneering scenarios have been implemented in China and Guangxi, continuously promoting the application of digital RMB in cross-border payments, trade settlements, and other fields. (New Society)