All departments and divisions of district, all units directly under the district government, all entities residing in the district, all companies directly under the district government,
In order to further promote the innovative trade model of the Qingdao Area of China (Shandong) Pilot Free Trade Zone, actively play a breakthrough and leading role in the reform, build a new form of cross-border barter trade ecosystem, promote the internationalization of RMB, and enhance the liberalization, facilitation and digitalization level of the cross-border barter trade, combining the actual situation of our district, the Several Opinions on Promoting the High-quality Development of the New Form of Cross-border Barter Trade are established and hereby issued. Please follow and implement them seriously.
Administrative Committee of
Qingdao Area of the China (Shandong) Pilot Free Trade Zone
Administrative Committee of Qingdao Qianwan Bonded Port Area
October 15, 2021
Several Opinions on Promoting the High-quality Development of New Form of Cross-border Barter Trade of Qingdao Area of the China (Shandong) Pilot Free Trade Zone
Article 1 To further promote the innovative trade model of the Qingdao area of the China (Shandong) Pilot Free Trade Zone (hereinafter referred to as the Qingdao Free Trade Area), actively play a breakthrough and leading role of the reform, and promote the transformation and upgrading of the trade in the area, according to the Notice on Several Measures for the Reform and Innovation of Trade and Investment Facilitation in Pilot Trade Zones (Guofa [2021] No.12), the Notice of the State Council on the Issuance of the Overall Plan for 6 New Pilot Free Trade Zones (Guofa [2019] No.16) , the Fourteenth Five-Year Plan for Commercial Development and the Notice on Further Optimizing Cross-border RMB Policies to Support Stabilization of Foreign Trade and Foreign Investment (Yinfa [2020] No. 330) of the Ministry of Commerce, etc., based on the actual conditions of Qingdao Free Trade Area, to promote the new form of cross-border barter trade, the present opinions are established.
Article 2 The “new form of cross-border barter trade” designated in the present opinions refers to a new model of international trade between Chinese enterprises and domestic and overseas enterprises and individuals based on goods, services, etc., to avoid economic risks, realize global allocation of resources and obtain compound trade profits.
Article 3 Encourage enterprises to explore renminbi pricing and settlement on the basis of traditional international trade models, and innovate the scenarios of the new form of cross-border barter trade with interconnection of goods, services, technologies and intellectual property rights. Certain support will be given to the innovative entities that take the lead and actively participate in the new form of cross-border barter trade as well as the enterprises that have a greater contribution to the regional volume of the new form of cross-border barter trade.
Article 4 Create a universal digital platform for the new form of cross-border barter trade, support relevant platform R&D and service organizations to set up branches in Qingdao Free Trade Area, and provide conveniences in customs, foreign exchange, taxation, finance, information and other fields for the new form of cross-border barter trade businesses to promote the scaled and normalized development of the new form of cross-border barter trade.
Article 5 Encourage the new form of cross-border barter trade relying on the new cross-border barter trade platform and using renminbi pricing and net settlement in the context of real trade.
Article 6 Attract well-known barter trade associations and organizations at home and abroad to set up branches in Qingdao Free Trade Area, and encourage intermediaries to provide integrated supporting services including sources of goods, services, technologies, information, training and certification for the new form of cross-border barter trade.
Article 7 Strengthen the resource cohesion of the Qingdao Free Trade Area's policy chain, innovation chain, industrial chain, supply chain, value chain, etc., and provide high-quality services such as project coordination, international logistics, overseas warehouses, finance and laws for enterprises to carry out the new form of cross-border barter trade business. Give full play to the advantages of the state-owned economy in competitiveness, innovation, control, influence and anti-risk capabilities, and be a leader in the model innovation and high-quality development of the international trade.
Article 8 Provide encouragement and certain support for financial institutions to supply comprehensive services including risk hedging, insurance, financing and supply chain finance for the new form of cross-border barter trade business.
Article 9 Support banks in the area to issue overseas RMB loans in accordance with regulations; explore the use of renminbi pricing and settlement when financial institutions in the area conduct cross-border asset transfers and other businesses in accordance with regulations, and incorporate them into the macro-prudential management of the full-scale cross-border financing; explore the return of renminbi capital through export trade and mainly promote the cross-border use of RMB in the field of trade and investment; support eligible multinational companies to carry out cross-border RMB fund pool business in accordance with regulations.
Article 10 The present opinions are valid for 3 years from the date of publication and interpreted by the Shipping and Logistics Department of the Management Committee of Qingdao Free Trade Area.
