Since the beginning of this year, the Heihe Branch of the People's Bank of China has firmly focused on the requirements of Heihe City to build a new highland opening to the North, steadily promoted the development of cross-border RMB business in Heihe City, and provided high-quality cross-border RMB settlement services for foreign-related economic entities in Heihe City. In the first November of this year, the cross-border RMB settlement volume in Heihe City reached 6.293 billion yuan, an increase of 63.72% year-on-year, and the cross-border RMB settlement volume in Heihe City exceeded 6 billion yuan for the first time, hitting a record high.

We will make coordinated plans to increase the volume and quality of cross-border RMB. The Heihe Branch of the People's Bank of China organized key cross-border RMB work meetings in the city, focused on the three indicators of increasing the total volume, growth rate and proportion of cross-border RMB settlement, formulated and implemented the promotion plan and publicity training plan for cross-border RMB business in Heihe City in 2023, clarified the key points of work and detailed the division of business. Fully mobilize the enthusiasm and initiative of banking institutions to carry out cross-border RMB business. In the first November of this year, the proportion of cross-border RMB settlement in domestic and foreign currency settlement in Heihe City ranked first in the province, and the settlement volume ranked second in the province's prefecture-level cities.

Innovative financial products to meet the diversified needs of foreign-related enterprises. The Heihe Branch of the People's Bank of China guides the banking institutions under its jurisdiction to seize the overlapping opportunities of Heihe Free Trade Zone, border trade and other policies, and constantly improve the innovation ability of financial products to meet the diversified needs of foreign-related enterprises. Guided Longjiang Bank to innovate "Free trade E-loan", which exclusively met the capital needs of enterprises in Heihe Free Trade Zone, and issued a total of 23 million yuan of loans since the launch of the product; Support Longjiang Bank in the original small discount loan policy framework, innovation "border loans" for border residents in line with the policy to issue small loans, the product has issued a total of 4.448 million yuan of loans since the launch; Guide the local legal bank Heihe Rural Commercial Bank to innovate and launch the first international letter of credit business in the province's rural credit system, facilitate foreign-related enterprises to carry out trade activities with "Belt and Road" partners, and improve the efficiency of cross-border RMB settlement.

We will improve financial services and improve the efficiency of cross-border RMB settlement. The Heihe Branch of the People's Bank of China guides banking institutions to continuously optimize financial services, carry out "one-to-one" business consultation and policy guidance for key foreign-related enterprises, guide foreign-related enterprises to rationally choose overseas banks for business cooperation, and smooth cross-border RMB settlement channels. We will actively promote interbank cooperation between banking institutions and financial institutions that are partners of the Belt and Road Initiative, actively expand the network of agent banks, strengthen cooperation on RMB interbank current accounts, and improve the efficiency of cross-border RMB settlement. By the end of November, Heihe banking institutions had opened RMB interbank current accounts for 19 overseas financial institutions to facilitate cross-border settlement by domestic and foreign enterprises.

Source：

https://heihe.dbw.cn/system/2023/12/28/059259740.shtml