Chapter V Financial openness

Article 18 (Opening-up of financial industry)

Lin-gang Special Area will be the first to implement financial opening-up measures such as relaxing limits on the proportion of foreign shareholdings in financial institutions and expanding the business scope of foreign-funded financial institutions, support qualified foreign investors to establish various financial institutions in accordance with laws, and ensure that Chinese and foreign financial institutions operate equally according to laws.

Article 19 (Cross-border financial services)

Lin-gang Special Area will support enterprises in Lin-gang Special Area to carry out cross-border financial activities in compliance with prevailing international rules and regulations, and promote financial institutions to provide cross-border financial services such as bond issuance, investment mergers and acquisitions, and centralized operation of cross-border funds for enterprises and non-residents in Lin-gang Special Area under the premise of legal compliance, controllable risks and sustainable businesses.

Lin-gang Special Area will support enterprises in the area to carry out true and legal offshore transfer businesses. Financial institutions can provide efficient and convenient cross-border financial services for enterprises in Lin-gang Special Area to conduct offshore transfer businesses in accordance with prevailing international rules.

Lin-gang Special Area will support qualified financial institutions to conduct businesses such as cross-border securities investment and cross-border insurance assets management.

Article 20 (Cross-border renminbi business)

Under the premise of controllable risks, Lin-gang Special Area will further simplify the process of handling the cross-border renminbi business of high-quality enterprises and facilitate cross-border financial services in accordance with the provisions of laws and regulations and with reference to the international recognized financial supervision regulations.

Article 21 (Use of overseas funds)

The funds raised abroad by enterprises in Lin-gang Special Area may be independently used for the operation and investment activities in Lin-gang Special Area and elsewhere abroad.

The funds raised abroad and the income obtained from cross-border services by qualified financial institutions may be independently used for operation and investment activities in Lin-gang Special Area and elsewhere abroad.

Article 22 (Opening-up of capital project)

Lin-gang Special Area will promote pilot projects to integrate domestic and foreign currencies in free trade accounts, and explore free capital inflow, outflow and exchanges in Lin-gang Special Area.

Lin-gang Special Area will steadily advance the convertibility of capital accounts in accordance with the principles of overall national planning, servicing entity, controlling risks and step-by-step implementation.

Article 23 (Fund management center)

Lin-gang Special Area will encourage multinational companies to establish global or regional fund management centers, and implement a more convenient two-way pooling management mode for cross-border funds.