The PBOC and other regulators' Action Plan directs optimizing offshore trade
finance services and supports expanding the comprehensive offshore trade finance
reform pilot in the Shanghai FTZ Lingang New Area. It allows global high-quality
traders to establish offshore trade specialist companies to provide payment,
settlement and financing for offshore trade. The plan backs the "Cross-Border
Tong" and "Offshore Tong" platforms in further integrating global customs,
logistics and other data to support offshore trade finance. Priority will be
given to offshore trade finance tied to bulk commodity trading and other areas
with an existing foundation; the offshore trade finance management model may be
extended to additional trade scenarios when appropriate.
