On Feb 9, New Cornerstone Energy Investment Center in the Qinzhou Port area of the China (Guangxi) Free Trade Zone (FTZ) remitted 1.34 million yuan ($195,743) from Hong Kong to its capital account opened at the Qinzhou branch of China Construction Bank, marking the implementation of the first "Qualified Foreign Limited Partner (QFLP) + cross-border RMB" business in Guangxi.

QFLP refers to the establishment of foreign investment by foreign enterprises or individuals, raising funds from domestic and foreign investors in a non-public manner, and participating in the equity investment of domestic non-listed companies.

This QFLP fund facilitates cross-border two-way flow of RMB without the need to provide proof of authenticity materials in advance, which greatly improves the settlement efficiency of overseas investment funds. As the first cross-border RMB QFLP fund landed and invested in Guangxi, this business promotes the liberalization and facilitation of trade investment and financing in the region.

This fund was established by China-Malaysia Qinzhou Industrial Park Investment Holding Group through the introduction of overseas qualified investment companies. The fund scale is about 136 million yuan, and the remaining funds will be remitted in the near future to invest in key domestic new energy and chemical new materials, high-end advanced manufacturing, photovoltaic, offshore wind power, as well as other low-carbon transformation projects.

The Qinzhou Port area of the Guangxi FTZ has registered four foreign-invested equity investment QFLP funds, with a total registered capital of 3.4 billion yuan.

China-Malaysia Qinzhou Industrial Park. [Photo/WeChat account: gh_df8bc987e060]