Zhong Guo Jin Rong Xin Xi Wang·2025-12-05 03:52Core Insights - The Agricultural Bank of China (ABC) Shanghai Branch has successfully implemented the upgraded functions of the Free Trade Account for leading companies in high-end oil equipment manufacturing and semiconductor industries, marking the first successful trial of this initiative [1][2] Group 1: Free Trade Account Upgrade - The upgrade allows trial enterprises to conduct cross-border fund transfers directly with payment instructions, without restrictions on capital projects except for securities investments [1] - This initiative enhances the efficiency of cross-border capital flow for trial enterprises, facilitating the liberalization and convenience of cross-border trade and investment [1] Group 2: Company Highlights - Zhongman Petroleum, a high-tech enterprise in Shanghai, has developed an integrated business system supported by 423 independent patents, with products exported to over ten countries [1] - A leading semiconductor company in China has significantly improved fund transfer efficiency by allowing transactions based solely on payment instructions, eliminating the need for contracts or invoices [2] Group 3: Strategic Implications - The successful launch of these services is a concrete measure to implement the "Shanghai International Financial Center" initiative, enhancing the management of cross-border capital flow in the Shanghai Free Trade Zone [2] - The ABC Shanghai Branch aims to continue supporting high-tech industries and contribute to the high-quality development of the real economy through enhanced financial services [2]