Changshu Commercial Bank Supports Professional Circulation Market
Recently, the branch of Changshu Zhaoshang Shopping Mall under the jurisdiction of the Bank of China Suzhou Branch operated a textile company in Changshu City and successfully handled a foreign exchange collection and foreign exchange settlement amounting to US$32,980. This is a batch of sandals and slippers that the firm exported to Algeria in early April. The price of casual shoes. This small amount of money has attracted the attention of the local government, financial institutions and many market operators, because this is the first single business since the official launch of the pilot policy of the Changshu Fashion Market Procurement Trade Mode. From the April 7 declaration of exports, smooth customs clearance, to the receipt of payment and successful settlement, the landing of this business marks the successful completion of the first market procurement trade export.
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The market procurement trade mode refers to the procurement of single-ticket customs declaration commodities worth less than 150,000 U.S. dollars (including 150,000 U.S. dollars) from qualified business operators in the market agglomeration zone certified by the national competent commercial authority, and handles them at the procurement site. The trade mode of export customs clearance is a trade mode tailored to the characteristics of foreign trade in the "multiple varieties, multiple batches, and small batches" of professional markets.
According to reports, Changshu Garment City covers an area of ​​3.71 square kilometers and has gathered more than 30,000 shops with a market turnover of more than 130 billion yuan. It is the largest professional clothing circulation market in the country. At the end of 2016, the eight ministries and commissions of the Ministry of Commerce made the Changshu Garment City of Jiangsu Province as the third batch of the country’s market-purchasing trades to conduct pilot projects. In February this year, the trial mode of Changshu Fashion Market Procurement Trade was officially launched, and at the same time it initiated the strategic transformation to a global trading platform.
Relevant person in charge of the Bank of China Suzhou Changshu Branch stated that the bank has attached great importance to this pilot project and has become an action team to take the initiative to connect with the local People’s Bank, promote foreign exchange management for market promotion, macro-prudential management of full-calibre cross-border financing, and cross-border corporate cross- The Bank has conducted in-depth communication and exchanges in innovation pilots, business linkages, and service methods for centralized RMB fund operations, and has provided targeted professional advice.
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In order to actively promote this policy, the Bank actively participated in the cross-border trade procurement matchmaking conference organized by the Changshu Clothing City Administrative Committee, in addition to actively promoting marketing through multiple channels, and built communication and exchanges between local merchants and foreign buyers. bridge. Up to now, the bank has opened 7 personal foreign exchange settlement accounts and 3 corporate foreign exchange settlement accounts for the relevant merchants. Mr. Wang, an individual industrial and commercial accountant who opened an account with the bank, told reporters that using the market to purchase trade exports not only can be used for customs declaration in the local area, but also exemption from tax exemption, and can also enjoy government subsidies and increase export confidence.
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The establishment of market-purchasing trade methods is of great significance in consolidating the traditional advantages of Changshu's textile and apparel trade, promoting the innovation of foreign trade business models, and accelerating the cultivation of new advantages in trade competition. In this regard, the relevant person in charge of the Bank of China’s Changshu Branch in Suzhou stated that the Bank will continue to take advantage of its internationalized and diversified businesses, effectively fulfill its social responsibilities, and strengthen its financial support services, contributing a financial force to promote the booming procurement of Changshu apparel market.
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