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Shanghai Characteristic Services
Since the launch of China (Shanghai) pilot free trade zone on September 29, 2013, Shanghai has promoted financial system innovation and achieved positive results. As a major bank in FT financial services, Agricultural Bank of China Shanghai Branch followed the pace of financial reform of Shanghai FTZ and established a sound financial service system of FTZ. The use of free trade accounts (FT accounts) to provide cross-border financial services to foreign entities will effectively facilitate the import and export transactions of importers and exhibitors at CIIE by giving a full play to local advantages.
FT account management service. For foreign exhibitors who open non-resident free trade accounts (FTN), our bank can provide all kinds of financial services including basic settlement, investment and financing according to pre-establishment national treatment. The FTN account is a local and foreign currency integrated account. The funds in the account are convertible and transferred freely with the overseas account.
FT cross-border settlement service. Agricultural Bank of China can provide cross-border fund settlement services for overseas exhibitors, including all kinds of payment methods such as telegraphic transfer, collection and letter of credit.
FT cross-border financing services. For large exhibitors, Agricultural Bank of China can approve the credit line for them, or directly provide loans (including various trade financing) through the guarantee of domestic and foreign financial institutions.
FT trade financial services. Through the FT account system, Agricultural Bank of China Shanghai Branch can provide complete trade and financial services for domestic purchasers, foreign exhibitors (or overseas purchasing platforms for domestic purchasers). Our products cover the buyer's bill of exchange, forfaiting, the issuance of letters of credit, payment guarantee and other financing varieties. The settlement methods such as letter of credit, documentary collection, electronic commercial bill of exchange and telegraphic transfer.
FT foreign exchange trading service. Exhibitors can apply for foreign exchange settlement and foreign exchange trading services via FTN account according to the offshore market quotation according to business needs. Exhibitors can use FTN account to handle foreign exchange derivative transactions such as forward, option and swap, etc. in our bank to avoid risks caused by exchange rate fluctuations.