In June this year, the first domestically-produced 200-metric-ton giant intelligent mining wide-body truck – EM200 – successfully rolled off the production line in the city of Ordos in North China's Inner Mongolia autonomous region.

The truck has helped promote the development of the region's green new energy industry and offered the city a way to deal with issues related to the cross-border equity financing of enterprises.

EM200 was independently developed and produced by Inner Mongolia Iridium Molybdenum Zhihui Technology Co, which was established in the Ordos High-tech Industrial Development Zone in 2021 and funded by foreign capital. It is mainly involved in the manufacture and sale of new energy mining trucks.

At the end of 2021, the company received an angel round of investment of 45 million yuan ($6.75 million) led by Lanchi Venture Capital (Hong Kong).

Due to the fact that the actual amount invested by the foreign party was much higher than the registered capital, as well as other reasons, the company encountered problems related to the fact that the investment funds could not be landed when the bank tried to register the foreign investment.

After learning of the situation, the Ordos central sub-branch of the State Administration of Foreign Exchange paid a visit to the company to teach it about the facilitation policy on foreign exchange income payments under capital projects to enterprises and solve difficulties faced by enterprises in the use of foreign exchange funds.

The door-to-door policy service promoted the efficient use of corporate funds and reduced the enterprise's operating costs.