Modern Finance At The FTZ

The new Lingang section of the Pilot Free-Trade Zone has seen its first international banking transfer. Previously, such transactions would have required bank reviews, but thanks to Lingang’s Free-Trade Zone update this is no longer necessary, thus cutting the needed time from half a day to five minutes. Companies in Lingang will soon be able to open free-trade accounts, to conduct their trade in RMB as well as foreign currencies, and to receive investments from overseas.

 

Source: Money Talks, ICS