The administrative committee of the Qinzhou Port area of the China (Guangxi) Pilot Free Trade Zone (FTZ) cooperated with the Qinzhou branch of the People's Bank of China to settle one-stop integrated domestic and foreign currency transfer service projects in Qinzhou.

In December 2022, Qinzhou settled three pilots for this service project, each at the Qinzhou Port technological branch of the Industrial and Commercial Bank of China, the Qinzhou Port branch of the People's Bank of China, and the Qinzhou Port branch of China Construction Bank.

By May this year, the pilot banks provided currency transfer services for 211 enterprises. The local currency and foreign currency funds that were traded reached 2.3 billion yuan (325 million) and $5.96 million, respectively.

"Thanks to this service, when we settle matters concerning the import and export of goods, we only need to provide one account to satisfy the payment of funds in multiple currencies," said He Dawu, manager of Guangxi Linhai Trade.

Qinzhou provides one-stop integrated domestic and foreign currency transfer services for companies. [Photo/WeChat account: gh_df8bc987e060]