On July 6, Shenzhen issued the "Guiding Opinions on Shenzhen's Financial Support for Foreign Trade with a Stable Scale and Optimal Structure" (hereinafter referred to as the "Opinions"), focusing on import and export credit, cross-border fund settlement and foreign trade financial services.
In terms of increasing credit support for import and export, the Opinions proposed to encourage financial institutions to do a good job in credit extension in the field of foreign trade, actively meet the foreign trade financing needs of private, small and medium enterprises, as well as use monetary policy tools to support the development of foreign trade enterprises; innovative credit products, stabilise and expand import and export in key areas, develop foreign trade supply chain finance; cultivate and expand export credit insurance policy financing, and expand the use of China yuan in cross-border trade financing.
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