Tianjin releases a new batch of 18 financial innovation cases in pilot free trade zones
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In order to promote the implementation of the “Ten Actions” for high-quality development, further deepen financial reform and innovation in the Pilot Free Trade Zone, and encourage and support financial institutions to come up with new and practical strategies to serve the real economy, the Tianjin Pilot Free Trade Zone Financial Work Coordination and Promotion Group Office A new batch of 18 financial innovation cases in the Tianjin Pilot Free Trade Zone were released. Eight years since the Tianjin Pilot Free Trade Zone was established, a total of 153 financial innovation cases have been released, which fully reflects the distinctive characteristics of financial reform and innovation in continuing to serve the real economy and promotes the sustained and healthy development of the city’s financial industry.
Among the newly released cases, there are 5 first orders in the country. Dongjiang Comprehensive Free Trade Zone launched the country’s first offshore engine financial leasing business; released the country’s first green evaluation mechanism for financial leasing; launched the country’s first standardized green financial leasing business, and was the first financial institution in the country to adopt the green leasing evaluation mechanism to evaluate green leasing Green loans issued by the project; the country’s first “patent transfer registration + patent pledge registration” innovative intellectual property financing leasing business was launched. The ABS project of Tianjin Lingang Port Group, an enterprise in the Tianjin Port Free Trade Zone, obtained a no-objection letter from the Shanghai Stock Exchange and approved a shelf issuance quota of 1.368 billion yuan. It is the country’s first priority AAA rated port fee revenue rights ABS project and the country’s first Beijing-Tianjin project. Hebei hopes to coordinate the development of ABS projects.
5 first orders in Tianjin. The Economic Development Zone applied the “separated adjudication” model for the first time in the city’s court system, and 51 financial loan contract disputes were tried and pronounced in court. The Tianjin Branch of the Agricultural Bank of China customized an export credit insurance financing plan for foreign trade companies and completed the city’s first cross-border financial service platform export credit insurance financing business application scenario pilot. As the sole investor, Zheshang Bank Tianjin Branch helped the company successfully issue the city’s first free trade pilot zone bond on the Australian Exchange (MOX), with a scale of 460 million yuan. Sinosure Tianjin Branch launched Tianjin’s first external financing guarantee business under credit insurance for local state-owned enterprises, helping the company obtain a bank loan of US$55 million. Minsheng Financial Leasing issued 7 billion yuan of freight and logistics themed financial bonds, which is the city’s first and the largest freight and logistics themed financial bond in the country.
The first 3 orders in the financial institution system. Bank of Communications Tianjin Branch launched the first comprehensive hedging service plan for exchange rates and interest rates under the capital account in the system, effectively reducing the comprehensive financial costs of enterprises. China Merchants Bank Tianjin Branch launched the first closed-loop transfer project of red-chip account funds in the system, which fully reflects the efficiency and convenience of FT account settlement and the advantages of China Merchants Bank’s domestic and overseas account integration. China Everbright Bank Tianjin Branch launched the first foreign currency project loan for the aircraft leasing business in the system based on the international risk-free benchmark interest rate after the reform of the international benchmark interest rate. It provided a US$45.67 million medium and long-term project loan for a leasing company to a Tianjin SPV company.
The basic information, innovation points, application value and other details of 18 financial innovation cases are now announced. Each enterprise can choose applicable products based on its own needs and contact relevant departments or institutions for negotiation. Relevant financial institutions should fully learn from the innovative cases released, develop more financial products and services that meet the needs of the real economy, and use practical actions to assist the high-quality development of the financial industry.
In the future, the Financial Work Coordination and Promotion Group Office of Tianjin Pilot Free Trade Zone will continue to thoroughly implement the spirit of General Secretary Xi Jinping’s important instructions on the construction of the Pilot Free Trade Zone and the decision of “Implementing the Strategy to Improve the Pilot Free Trade Zone” proposed by the 20th National Congress of the Communist Party of China. Deploy and take multiple measures to explore the opening up and innovative development of the Pilot Free Trade Zone, further demonstrate the role of the Pilot Free Trade Zone as a “test field” for financial reform and innovation, strive to create more results for deepening financial innovation, serve the real economy, and develop the financial industry with high quality Help comprehensively build a modern socialist metropolis.
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