The most intuitive feeling of many enterprises is that there are fewer procedures, higher efficiency, lower costs, and more active funds. In recent years, the supply of cross-border investment and financing facilitation policies in China has been continuously improved, and a series of policies have been introduced to promote cross-border investment and financing facilitation to a new level. This year's Government Work Report proposes to further expand high-level opening-up to the outside world. Increase credit and credit insurance support, expand the cross-border use of RMB, and improve the level of cross-border trade facilitation. Financial support is indispensable in this process. The industry generally believes that it is necessary to continuously strengthen high-quality financial and foreign exchange services, promote cross-border trade and investment and financing facilitation, and promote high-quality development through high-level opening up. More comprehensive supporting policies in finance are the core support for enterprises to go global and overcome challenges. This year's Government Work Report proposes to "guide enterprises to optimize their global market layout, promote the integration of trade and investment, and the integration of domestic and foreign trade". Zeng Gang, director of the Shanghai Finance and Development Laboratory, analyzed that this means that policy goals have extended from simply stabilizing trade scale to supporting enterprises to synchronously layout production, investment, and sales on a global scale, which puts forward more systematic requirements for financial support. For example, cross-border investment and financing linkage, full coverage of risk hedging, embedding RMB settlement into the investment chain, and financial interconnectivity between domestic and foreign trade. In order to enhance the level of capital account openness and help build a new development pattern of domestic and international dual circulation mutual promotion, the People's Bank of China recently issued the "Notice on Relevant Matters of RMB Cross border Interbank Financing Business of Banking and Financial Institutions" (hereinafter referred to as the "Notice") on the basis of absorbing public opinions in the early stage, further supporting domestic banking and financial institutions (hereinafter referred to as "domestic banks") and overseas institutions to carry out RMB cross-border interbank financing business in a standardized manner. Cross border interbank financing of RMB includes various businesses such as account financing, bond repurchase, etc., in which domestic banks integrate and lend RMB funds to overseas institutions. The direction of lending is an important channel for domestic banks to provide RMB liquidity to offshore markets and promote the cross-border use of RMB. Cross border interbank financing is an important channel for banks and markets to carry out short-term cross-border RMB financing. ”Tian Lihui, a finance professor at Nankai University, believes that the current cost of RMB funds is relatively low, and financing costs have advantages. The "Notice" clearly supports banks to provide liquidity for offshore markets, which will further stimulate overseas RMB financing demand, drive cross-border trade and investment in RMB use, form a full industry chain and full scenario RMB international use cycle, and better support global economic integration. The reporter found that on the basis of widely absorbing public opinions, the "Notice" has optimized and adjusted the calculation rules for net outflow balance in the draft for soliciting opinions, clarifying that certain businesses are not included in the calculation of net outflow balance. Such as businesses based on real trade financing backgrounds, and businesses where domestic banks indirectly issue RMB loans to overseas enterprises by raising funds from overseas banks. In order to better leverage the role of RMB clearing banks, the lending business conducted between domestic banks and overseas RMB clearing banks is also not included in the calculation of RMB cross-border interbank financing net lending balance. Industry insiders say that the above adjustments will help broaden the cross-border business development space of domestic banks and further enhance the quality and efficiency of financial services for the real economy. The quality and efficiency of cross-border financial services for the real economy are the most tangible feelings for enterprises to develop with peace of mind. The timeliness and cost of cross-border settlement are directly related to the cash flow and competitiveness of overseas enterprises. With the continuous expansion of China's foreign trade "circle of friends", some trading partners' foreign exchange controls and shortages have objectively led to difficulties in receiving payments and poor settlement channels. Therefore, encouraging banks to actively connect with the diversified currency settlement needs of enterprises, providing solid and efficient financial infrastructure services for enterprises to explore markets and integrate into the global market, is an important measure to further increase the support for stable foreign trade finance and improve the quality and efficiency of cross-border financial services. The reporter learned from Zheshang Bank that in order to solve the pain points of traditional remittance links and slow arrival, Zheshang Bank has launched an upgraded version of "Yongjin Global Remittance 2.0", laying a settlement "highway" for enterprises. In addition to fast and full payment in mainstream currencies such as US dollars and euros, we can also provide cross-border payment services in over 100 currencies and payment services in more than 30 currencies, accurately matching the actual needs of cross-border enterprises to explore emerging markets such as Southeast Asia, the Middle East, and Africa. The practice of Zhejiang Tianyan Holdings Co., Ltd. is an example. It is reported that some of the company's products are exported to African countries such as Nigeria. In the past, due to local foreign exchange shortages, customers had to exchange foreign exchange payments in multiple installments, resulting in payment cycles of weeks or even months and high uncertainty. The small currency collection function of "Yongjin Global Remittance 2.0" has enabled enterprises to successfully receive US dollar payments converted into Nigerian Naira, greatly improving the collection speed and reducing exchange rate risks. The journey of overseas enterprises begins with key investments and ends with sustained capital. Zheshang Bank also provides a package of financing services tailored to the specific scenarios of various stages of enterprise "going global", from project initiation, operational turnover to expansion and mergers and acquisitions, offering customized cross-border financing solutions. It is reported that Zhejiang Commercial Bank will provide cross-border financing of over 250 billion yuan in 2025, of which nearly 50 billion yuan will be provided by enterprises within Zhejiang Province. Through scenario based and customized product design, we continue to inject financial momentum into "going global" enterprises, helping them steadily advance in global competition. In terms of cultivating and strengthening new driving forces for trade development, this year's Government Work Report proposes to promote the expansion and upgrading of cross-border e-commerce and overseas warehouse models, and to develop them in a standardized and orderly manner. In recent years, new forms of foreign trade, represented by cross-border e-commerce, have flourished and become an important growth point and new vitality for foreign trade imports and exports. However, they also face many pain points such as the large number of documents to be reviewed and the difficulty in verifying authenticity. At the same time, more and more small and medium-sized enterprises, as well as individual businesses, are leveraging cross-border e-commerce platforms and comprehensive foreign trade service enterprises to engage in cross-border trade, and hope to enjoy more convenient trade settlement policies. In order to comply with the trend of integrated development of foreign trade comprehensive services and cross-border e-commerce, the State Administration of Foreign Exchange supports banks to transform the traditional trade document review method, and automatically handle cross-border e-commerce collection and payment for foreign trade comprehensive service enterprises based on transaction electronic information, providing more convenient cross-border collection and payment and offset settlement services for small and medium-sized business entities. The person in charge of a certain Guangdong Foreign Trade Comprehensive Service Co., Ltd. stated that the more convenient cross-border collection and payment of foreign exchange and offset settlement services have solved the problem of document preparation caused by the large number of e-commerce transactions. The bank automatically reviews the electronic order information and logistics information pushed online, which can handle the collection and settlement business for small and micro merchants. The review and entry time is shortened to minutes, and there is no need for enterprises to provide customs declaration and other materials afterwards, greatly saving enterprise manpower and time costs. In recent years, the People's Bank of China has steadily promoted the internationalization of the Renminbi, achieving positive results. The Renminbi has become the largest settlement currency for China's external payments and the second largest trade financing currency in the world. By 2025, the cross-border payment and receipt amount of Renminbi will reach 70.6 trillion yuan, and the willingness of overseas entities to hold and use Renminbi continues to increase. The acceleration of the internationalization process of the RMB has provided a broader space for cross-border financial services. Recently, Bank of China has launched two landmark RMB "debut" businesses in the UK: the first RMB loan for global use through the Hong Kong RMB Business Funding Arrangement (RBF), and the first RMB accounts receivable financing underwritten by a foreign insurance institution. The first "IPO" opened up a new channel for RMB cross-border financing. The reporter learned from Bank of China that Bank of China London Branch has successfully issued a 500 million yuan loan to an overseas secondary company of an energy enterprise through Bank of China Hong Kong and the Hong Kong RBF channel funds, achieving the first overseas loan disbursement of Hong Kong RBF channel funds. Compared to ordinary RMB loans, Hong Kong RBF channel funds have advantages such as lower interest rates, more stable funding supply, and wider coverage of uses. The successful implementation of this business has opened up a new channel for RMB cross-border financing, which has a positive significance for promoting the international use of RMB. To further meet the overseas RMB financing needs of the enterprise, Bank of China has issued another RMB 460 million loan to the enterprise, providing high-quality cross-border financial services with stable and efficient professional capabilities. The second "initial public offering" is to establish a new model for RMB financing risk management. It is reported that Bank of China has issued RMB 140 million accounts receivable financing for a Chinese funded enterprise's overseas telecommunications project in the UK. This is the first RMB financing business underwritten by the globally renowned insurance entity, Lloyd's of London. The successful implementation of this business marks that Bank of China has taken the lead in cooperating with foreign insurance institutions in the industry, achieving innovative breakthroughs in risk management and financial product integration of the RMB, and also opening up new paths and paradigms for more Chinese enterprises to use RMB for trade financing in overseas projects. Standing at the beginning of the 15th Five Year Plan, the upgrading of cross-border financial services is far from stopping. Li Bin, Deputy Director of the State Administration of Foreign Exchange, stated at the press conference of the State Council Information Office at the beginning of the year that the State Administration of Foreign Exchange will better coordinate development and security, and continue to build a "more convenient, more open, safer, and smarter" foreign exchange management system and mechanism. These four 'more' outline the development direction of future cross-border financial services. Xiao Sheng, Director of the Capital Account Management Department of the State Administration of Foreign Exchange, said that the SAFE would further study and optimize the cross-border fund policy for qualified foreign institutional investors, continue to issue investment quotas for qualified domestic institutional investors in an orderly manner, cooperate with relevant departments to promote the construction of Shanghai Shenzhen Hong Kong Stock Connect, Bond Connect and other financial market connectivity mechanisms, and constantly improve the level of two-way opening of the financial market. In terms of continuously deepening the reform of foreign exchange management for cross-border investment and financing, we will further increase efforts to promote the reform of foreign exchange management for foreign direct investment, focus on simplifying relevant foreign exchange registration procedures, facilitate the payment and use of foreign investment funds, and better assist foreign investment in developing and operating in China. Revise and introduce the integrated management measures for domestic enterprises' overseas loans in both domestic and foreign currencies, to support and facilitate the financing of "going global" enterprises, and to better reduce costs and increase efficiency. Improve domestic and foreign exchange loan foreign exchange management policies to help enterprises better carry out cross-border trade activities. Continuously improving and optimizing cross-border financial services not only affects the operational efficiency of enterprises, but also relates to the enhancement of national financial competitiveness. With the implementation of more policy measures, a more efficient, convenient, and secure cross-border financial service system will inject continuous momentum into China's further expansion of high-level opening-up to the outside world. (New Society)