June 12 — At a Shanghai municipal government briefing, PBOC Shanghai deputy director Chen Jiming said the office will, per PBOC head office instructions, continue FTZ financial reforms to improve cross-border trade and investment facilitation. Planned steps: expand the pilot coverage of Free Trade Account (FTA) functions to more qualified enterprises; broaden the Lingang New Area offshore trade-finance reform pilot to cover more offshore trade scenarios; and support exploration of an offshore fi

June 12 — At a Shanghai municipal government briefing, PBOC Shanghai deputy director Chen Jiming said the office will, per PBOC head office instructions, continue FTZ financial reforms to improve cross-border trade and investment facilitation. Planned steps: expand the pilot coverage of Free Trade Account (FTA) functions to more qualified enterprises; broaden the Lingang New Area offshore trade-finance reform pilot to cover more offshore trade scenarios; and support exploration of an offshore financial institutional framework to accumulate experience for Shanghai’s steady offshore finance development.