Nan Fang Du Shi Bao·2025-09-08 23:14Core Viewpoint - Shenzhen is positioned as a key area for cross-border finance, with the successful launch of the Free Trade Account (FT Account) system by CITIC Bank's Shenzhen branch marking a significant innovation in the Guangdong-Hong Kong-Macao Greater Bay Area's cross-border financial landscape [1][2]. Group 1: Strategic Importance - The FT Account system is a crucial financial infrastructure aimed at facilitating capital account convertibility and cross-border capital flow [2]. - Shenzhen's unique geographical position as a bridge between the mainland and Hong Kong/Macao enhances its role in cross-border financial activities [2]. - The launch of the FT Account in Shenzhen aligns with the national strategy for financial openness and serves as a model for cross-border financial reform across the country [1][2]. Group 2: Financial Mechanism - The FT Account enables enterprises to establish a seamless funding channel from domestic FT accounts to offshore accounts in Hong Kong/Macao and international markets, significantly reducing financing and settlement costs [3]. - Key service targets for the FT Account include state-owned enterprises undertaking overseas projects, manufacturing companies, especially those focusing on technology exports, and cross-border e-commerce businesses [3][4]. Group 3: Business Impact - The FT Account is transforming the cross-border operational experience for companies, particularly in terms of financing and risk management [4]. - Manufacturing enterprises can utilize the FT Account to secure overseas loans, thereby addressing funding needs for local project construction and operations while lowering financing costs [4]. - Technology companies planning to list in Hong Kong can leverage the FT Account for flexible management of exchange rate risks, enhancing financial stability [4]. Group 4: Future Development - CITIC Bank's Shenzhen branch aims to enhance cross-border settlement, financing, and transaction services, focusing on differentiated, scenario-based, and ecological service features [6]. - Future initiatives include expanding cross-border settlement scenarios, designing exclusive financing products for tech and foreign trade enterprises, and creating a comprehensive financial service ecosystem [6]. - The goal is to evolve from a regional node to a national cross-border financial hub, leveraging the FT Account as a pivotal tool [6].