In recent years, Shenzhen has continued to optimize the business environment, providing high-quality foreign trade enterprises with more convenient measures for foreign exchange receipts and payments in trade, and enhancing the "sense of gain" for enterprises to facilitate trade.In November 2018, the Shenzhen Branch of the State Administration of Foreign Exchange became the first pilot branch of the pilot branch of the facilitation of trade foreign exchange receipts and payments, and actively promoted the implementation of the pilot trade facilitation policy.In March 2019, the pilot business of facilitation of foreign exchange receipts and payments for trade in goods was launched, and the first batch of 5 banks and 12 enterprises participated in the pilot; Year to further expand the entire service trade.
Recently, the reporter learned that as of the end of May 2022, 6 banks and more than 60 enterprises have participated in the pilot project of goods trade facilitation, with a total of 54,000 receipts and payments, amounting to US$44.04 billion.5 banks and 17 enterprises participated in the service trade facilitation pilot, with a total of 17,000 receipts and payments amounting to US$14.8 billion.
Serve the development of the real economy and cultivate the endogenous compliance awareness of market players
It is understood that the facilitation measures for foreign exchange receipts and payments in trade include the following aspects:
Optimize document review.
Banks shall handle foreign exchange receipts and payments for trade in goods/services for pilot enterprises in accordance with the principles of "knowing customers", "understanding business" and "due diligence". For businesses with unclear nature of funds, banks shall require enterprises to provide relevant documents.For a single foreign exchange expenditure for trade in services worth more than US$50,000, the "Tax Filing Form for External Payments for Trade in Services and Other Items" can be verified afterwards.
Special foreign exchange refunds such as overdue trade in goods are exempt from prior registration.
A single refund of the equivalent value of more than 50,000 US dollars is more than 180 days away from the original receipt and payment date, or the refund business cannot be returned in the original way due to special circumstances. The foreign exchange bureau goes through the registration procedures.
When foreign exchange is paid for trade in goods, it is exempted from going through the verification procedures of the import declaration form.
If the bank can confirm that the foreign exchange payment business for the trade in goods of the pilot enterprise is true and legal, it can be exempted from going through the electronic information verification procedures for import customs declaration.
Substitute or apportionment between domestic and overseas institutions that are not affiliated under the trade in services, or for over 12 months, shall be handled by the pilot bank after reviewing the authenticity and rationality.
The Shenzhen Branch of the State Administration of Foreign Exchange stated that the pilot program of facilitating trade receipts and payments is an important measure to serve the development of the real economy and further enhance trade liberalization and facilitation.Further promote the pilot work, guide banks to review and return to the origin of transaction authenticity and compliance, cultivate the endogenous compliance awareness of market players, and gradually form credit constraints that "the more honest the subject, the more convenient the procedures" and "the more compliant the bank is, the more independent the review is". and policy incentives.In the next step, we will continue to summarize and improve in practice, and continue to explore ways to benefit more market players and create a more convenient cross-border settlement environment.
The average business processing time has been shortened to 1/3 of the original
Since the pilot program of facilitation of foreign exchange receipts and payments in trade, the pilot enterprises and banks have clearly felt the convenience of the pilot business.
On the one hand, enterprises submit pilot business through online banking without the need to submit trade background information, which greatly saves financial manpower and time, and speeds up the efficiency of enterprise transactions; Facilitation of services saves manpower and time costs for banking operations.The pilot facilitation simplifies the document review requirements for cross-border foreign exchange receipt and payment transactions, significantly shortens the time for banks to review documents, and can handle business more quickly for high-quality customers, further improve the quality and efficiency of enterprise services, and enable enterprises to truly enjoy convenience. oriented policy dividends.
Shenzhen Donggang New Materials Technology Co., Ltd. (hereinafter referred to as "Donggang New Materials") is one of the beneficiaries.Donggang New Materials is a processing enterprise with imported materials. Since 2010, it has been handling business in Shenzhen Branch of Ping An Bank.After becoming a facilitation pilot enterprise, Donggang's new materials can be entered into the account without the need for bank review of documents, and only the bank needs to regularly check the business afterwards, which greatly shortens the time for a single transaction.The pilot policy not only helps Donggang New Materials reduce costs and increase efficiency, but also promotes the improvement of internal operating procedures and creates a business environment that is "more compliant and more convenient".
"Our bank specifically conducts authenticity review from three aspects: customer access, submission of transaction instructions and post-event verification." Ping An Bank Shenzhen Branch told reporters, "When customers are admitted, our bank's management team reviews the customer's business situation. , the authenticity of the background of cross-border trade, the internal control management and the past settlement compliance will be fully adjusted to achieve the main business risk control at the customer level. At the same time, the management team will continue to track the customer's operation. Facilitate the pilot business, and pilot enterprises can realize command-based payment. In the post-event verification process, our bank mainly understands the customer's business background through retrospective analysis of customer payment data, review of customer's overall trade and payment data, daily customer visits, etc. Reduce interruptions to customers and allow high-quality enterprises to enjoy the most convenient service.”
"The average processing time of banking business has been shortened to 1/3 of the original, which has truly realized the release of manpower." Bank of China Shenzhen Branch told reporters that since the pilot of the facilitation policy, the bank's authenticity review has shifted from heavy document review to prior due diligence. Pay equal attention to the change of tracking and monitoring after the event, and firmly establish the business development concept of "substance is more important than form". At the same time, effectively grasp and control risks.
