Sou Hu Cai Jing·2025-10-24 06:35Core Insights - The integration of domestic and foreign currency accounts has significantly improved cross-border financial services for foreign trade enterprises in Jiangsu, enhancing efficiency and convenience in cross-border settlements [1][2]. Group 1: Cross-Border Financial Solutions - The pilot program for the integrated domestic and foreign currency account system in Jiangsu has been a major breakthrough in cross-border financial services [1]. - The Bank of China Jiangsu Branch has developed a tailored cross-border financial package for companies, allowing them to manage foreign currency operations through a single account, thus streamlining processes and improving efficiency [2][3]. Group 2: Case Studies of Enterprises - Jiangsu Bodewei Environmental Technology Co., Ltd. experienced a significant increase in efficiency in foreign exchange operations after implementing the integrated account system, allowing for global settlements without the need for multiple accounts [2]. - A leading engineering machinery company, which has maintained the top position in China's engineering machinery exports for 30 years, has benefited from a customized service plan that integrates multiple foreign currency accounts, reducing operational costs and improving financial management [3][4]. - Jiangsu Dinghong Household Products Co., Ltd. has also reported enhanced efficiency in cross-border transactions, with the average settlement time reduced to less than half a day due to the new account integration [5][7]. Group 3: Financial Management Improvements - The integrated account system allows enterprises to manage multiple currencies under one account, significantly reducing the complexity and time required for financial operations [6][7]. - The new system has led to a notable reduction in errors and costs associated with managing multiple currency accounts, enabling companies to focus more on core business development [6][7].