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PBOC, 7 Other Depts Promote Core Financial Functions of 'Financing', 'Settlement' to Support High-Quality Development of New Western Land-sea Corridor
The People's Bank of China (PBOC) and seven other departments jointly released the "Opinions on Financial Support to Accelerate the Construction of the New International L...
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PBOC, 7 Other Depts Promote Core Financial Functions of 'Financing', 'Settlement' to Support High-Quality Development of New Western Land-sea Corridor
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The People's Bank of China (PBOC) and seven other departments jointly released the "Opinions on Financial Support to Accelerate the Construction of the New International Land-Sea Trade Corridor". The "Opinions" propose 21 key measures from aspects such as improving the financial organizational collaboration system, building a high-quality capital circulation system, promoting institutional reform and innovation, constructing digital financial service platforms, enhancing the financial openness and cooperation system, and deepening cross-provincial and cross-border financial regulatory collaboration. These measures aim to promote the core financial functions of "financing" and "settlement" to support the high-quality development of the New International Land-Sea Trade Corridor, also known as the New Western Land-sea Corridor.

In their next step, the PBOC and the Chongqing Municipal Government will work with relevant departments to implement the measures outlined in the "Opinions", fully leveraging the advantages and roles of financial services in big corridors, big logistics, big industries, big platforms, and big markets to help form a new pattern of external openness.

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