Core Viewpoint - The People's Bank of China and several government departments have issued guidelines to enhance financial support for the construction of the Western Land-Sea New Corridor, focusing on improving financial collaboration, creating a high-quality financing system, and promoting institutional reforms [1]. Group 1: Financial Support Measures - The guidelines propose 21 key measures to leverage financing and settlement functions to support the high-quality development of the Western Land-Sea New Corridor [1]. - The measures include supporting regions to conduct futures bonded delivery and standard warehouse receipt pledge financing under bonded supervision for commodities like crude oil [1]. - Financial institutions are encouraged to develop products tailored to the shipping industry's needs, enhancing comprehensive financial services at modern ports [1]. Group 2: Futures Market Opportunities - The futures market can utilize the unique advantages of the Western Land-Sea New Corridor to enhance the construction of delivery and bonded warehouses, and to introduce international futures and options products targeting the ASEAN market [2]. - Business models such as warehouse receipt pledges and basis trading can provide financing support and risk management services to small logistics and trade enterprises, effectively reducing logistics costs [2]. - The establishment of cross-border bonded delivery warehouses is expected to support the large-scale development of bulk trade in the western region, enhancing the internationalization of the futures market [3]. Group 3: Currency and Risk Management - The guidelines encourage cross-border trade in bulk commodities to be settled in RMB, enhancing the risk management capabilities of RMB-denominated futures and options [3]. - Financial institutions are required to provide comprehensive financial support for cross-border trade and the bulk commodity supply chain, enabling futures firms to offer risk management services [3]. - The expansion of the RMB's cross-border usage is anticipated to accelerate the launch of RMB foreign exchange futures, aiding enterprises in managing exchange rate risks in cross-border trade [3].
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Qi Huo Ri Bao Wang·2025-12-25 04:00