In order to implement the country’s high-level opening-up plan and support the high-quality development of the “Belt and Road”, China CITIC Bank held a “Gathering in Central Asia” one-stop Central Asia cross-border comprehensive financial service program conference in Urumqi on June 3.
The event was hosted by China CITIC Bank and Deloitte China, aiming to build a collaborative docking platform between governments, banks, enterprises and professional institutions, accurately match the investment and financing needs of Chinese enterprises in Central Asia, and promote the quality and upgrading of China-Central Asia economic and trade cooperation.
Representatives from the Xinjiang Uygur Autonomous Region Branch of the People’s Bank of China, the Department of Commerce of the Xinjiang Uygur Autonomous Region, the Department of Industry and Information Technology of the Xinjiang Uygur Autonomous Region, Cross-border Interbank Payments and Settlement Co., Ltd. (CIPS), China Export & Credit Insurance Corporation, CITIC Construction and other institutions, as well as more than 100 overseas companies in the fields of energy, infrastructure, equipment manufacturing, and cross-border trade, attended the conference to discuss opportunities for cooperation between China and Asia and explore innovative paths for cross-border finance.
CITIC Bank has always adhered to the six major roles of being a practitioner of strategic follow-up, a supporter of industries going overseas, a coordinator of cross-border funds, a guardian of market risks, a defender of compliance operations, and a linker of local ecology, and is committed to being a good partner for enterprises to delve into Central Asia.
The one-stop cross-border comprehensive financial service solution for Central Asia released this time relies on China CITIC Bank’s global service network and CITIC Group’s comprehensive financial resources, and links with Kazakhstan’s Altyn Bank to integrate six core modules: cross-border settlement, special financing, exchange rate hedging, small currency services, country risk control, and local compliance. It builds a full-cycle, integrated cross-border financial service system, and the entire chain guarantees the stable operation of Chinese-funded enterprises in Central Asia.
Lu Jingen, Business Director of China CITIC Bank, said in his speech that as the construction of the China-Central Asia community with a shared future has entered a golden opportunity period of all-round deepening and high-quality development, enterprises across the country have seized the strategic opportunities of opening to the west, and the scale of bilateral trade has steadily increased. The Central Asian market has become an important incremental blue ocean for the international layout of Chinese-funded enterprises.
China CITIC Bank will always fulfill its financial responsibilities as a central enterprise, take the lead in its six major service roles, provide professional, efficient and local comprehensive financial services, smooth the China-Central Asia economic and trade cycle, help Xinjiang build a new highland for opening up to the west, and continue to contribute to the high-quality joint construction of the “Belt and Road”.
The leader of the Xinjiang Uygur Autonomous Region Branch of the People’s Bank of China said in his speech that Xinjiang, as the core area of the Silk Road Economic Belt, is my country’s frontier gateway to Central Asia.
With the acceleration of bilateral economic and trade, the diversified financial needs of enterprises have grown rapidly. We look forward to using this press conference as a link to deepen cooperation among multiple parties, innovate cross-border service models, consolidate risk control guarantees, and promote economic and trade interconnection between China and Central Asia.
This press conference held a roundtable discussion focusing on the three major directions of policy implementation, market opportunities, and risk management and control, focusing on in-depth exchanges on hot topics such as new cross-border investment and financing regulations, the construction of Xinjiang Free Trade Zone, and the business environment in Central Asia, providing practical reference for companies to implement projects in Central Asia.
Participating companies said that the event broke through information barriers, filled in cross-border service shortcomings, and effectively solved compliance and financial difficulties in the process of going overseas.
At the meeting, cooperative institutions carried out special sharings in sequence. Sinosure explained in detail the Central Asian country risk protection plan; CITIC Construction explained the industrial investment layout in Central Asia; Altyn Bank introduced localized financial facilities; CIPS Company promoted cross-border RMB support policies; Deloitte China analyzed the compliance details of the Central Asian market and built a multi-dimensional empowerment system of “finance + policy + risk control + compliance”.
Many companies reached cooperation intentions on site and highly recognized the one-stop full-chain service plan released this time.
Over the years, CITIC Bank has adhered to its roots of serving the real economy, relying on its global clearing layout and the group’s comprehensive advantages, focusing on the pain points of settlement, financing, and risk hedging for foreign trade companies, launching a number of cross-border financial innovation businesses, and continuing to empower the international development of Chinese-funded companies.
In the next step, China CITIC Bank will closely follow the national opening-up strategy, deeply link up with multiple strategic partners, continue to improve cross-border financial services, innovate special products, and build solid financial support for enterprises to explore the Central Asian market.
