善用避险工具服务小微企业

Group 1 - The State Administration of Foreign Exchange (SAFE) has launched a pilot function for "Derivative Business Guarantee and Credit Enhancement Signing" to improve exchange rate risk management for small and micro enterprises [1] - The pilot function provides convenient and low-cost exchange rate hedging services through mechanisms like online guarantee signing and optimized risk sharing, addressing the high costs associated with traditional methods [1] - Zheshang Bank has successfully executed the first pilot business, providing a textile export company in Shaoxing with a 2 million yuan "exchange rate hedging guarantee" and facilitating a foreign exchange swap product worth nearly 1.2 million USD [1] Group 2 - Exchange rate risk management is essential for enterprises, as highlighted by the SAFE's "Enterprise Exchange Rate Risk Management Guidelines" (2024 edition), which categorizes risks into transaction risk, accounting risk, and economic risk [2] - Maintaining exchange rate neutrality is crucial for enterprises to achieve stable operations, as it involves incorporating exchange rate fluctuations into daily financial decisions [2] - The foreign exchange derivative market in China has developed a comprehensive product system, including forward foreign exchange contracts, foreign exchange swaps, currency swaps, and options, with 127 banks qualified to offer these services as of December 2023 [3] Group 3 - Zheshang Bank aims to deepen policy application and external collaboration to provide comprehensive financial services, including "hedging + settlement + financing," to empower more small and micro enterprises to effectively utilize exchange rate hedging tools [3] - As of June 2023, Zheshang Bank has provided exchange rate hedging services to 3,600 enterprises through proactive credit granting [3]