Another new force enters the area of financial service in Qianhai. On August 6, Industrial Bank (IB) Qianhai Branch was established and it will officially settle down in Qianhai Free Trade Zone at the end of the year.
As the only national cooperation platform for Shenzhen and Hong Kong, Qianhai is positioned as a cooperation zone for modern services between Shenzhen and Hong Kong. Not only boasting the superimposed advantages of policies for Qianhai Bay Free Trade Port Zone, Qianhai Cooperation Zone and Guangdong Free Trade Zone, but also leaning against the Pearl River Delta and linking with Hong Kong, it is of great appeal to enterprises which want to grasp the first opportunities to develop cross-border business. Up to now, there have been over 25,000 enterprises settling down in Qianhai.
“We establish Qianhai Branch as we have great confidence in the prospect of the strategy that the state develops free trade zones and the One Belt and One Road and the development space and potential that Qianhai contains itself”, indicated person-in-charge of IB Shenzhen Branch to which Qianhai Branch is affiliated.
As one the banking holding group with the most financial licenses in China now, IB and its subsidiaries currently hold a range of financial licenses such as banking, trust, financial lease, fund, futures, consumer finance, and assets management. In addition, it established its first overseas institution – Hong Kong Branch in last March, which has built a solid foundation for the bank to link domestic institutions with overseas ones and develop cross-border financial innovation.
With product innovation, IB has established certain advantages in offering cross-border financial services to enterprises such as cross-border direct loan, outward security for offshore lending, cross-border RMB payment, cross-border trade financing, and cross-border capital pool, and reducing financing threshold and cost.
According to the introduction of IB Qianhai Branch, the branch will, centering on the four major industries and regional features of Qianhai, focus on “modern finance, services and logistics”, bring into play the regional advantages of linkage between Shenzhen and Hong Kong, and become a “bridge tower” and “vanguard” of IB in the cross-border financial services in an active way. It will constantly explore new financial products and business marketing models in offshore business, cross-border financial business, institutional banking, investment banking, high-end retail banking services, thus building up its differentiated features. In this way, the branch may provide Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone with all-round, efficient and professional financial services, help enterprises to go aboard and serve the national economic strategy.