Core Viewpoint - The article highlights the efforts of Bozhou, known as the "World Capital of Traditional Chinese Medicine," to promote its local medicinal materials internationally through the facilitation of cross-border RMB transactions, leveraging financial support and innovative mechanisms to enhance the export of traditional Chinese medicine products [1][8]. Group 1: Mechanism and Policy Innovation - The establishment of a "Traditional Chinese Medicine Cross-Border RMB Coordination Working Group" aims to address policy coordination and data barriers, creating a collaborative mechanism among local authorities and financial institutions [2]. - A comprehensive service system covering "policy support, industry selection, and customs facilitation" has been developed to streamline the export process for traditional Chinese medicine [2]. Group 2: Financial Services and Support - The People's Bank of China Bozhou Branch has implemented a dynamic management model with three lists to identify and support enterprises engaged in cross-border RMB transactions, enhancing their access to financial services [2]. - Financial institutions have introduced various financing products tailored for traditional Chinese medicine enterprises, such as "Cross-Border Quick Loans" and "Intellectual Property Pledge Financing," to alleviate financing difficulties [5][6]. Group 3: Efficiency and Cost Reduction - The establishment of a "Cross-Border RMB Settlement Service Demonstration Zone" has significantly improved the efficiency of cross-border transactions, reducing processing times from three days to one day [4]. - Financial institutions have implemented fee reduction measures for cross-border transactions, saving enterprises over 8 million yuan in costs and increasing the willingness of small and medium-sized enterprises to use cross-border RMB by 30% [4]. Group 4: Market Expansion and Growth - The Bozhou branch of the People's Bank of China has facilitated the establishment of a green channel for RMB clearing with overseas banks, focusing on key markets such as ASEAN and Japan/Korea, resulting in a 50.45% year-on-year increase in cross-border RMB transactions with ASEAN [7]. - The promotion of policies and services through events like the International Bozhou Medicinal Material Trade Fair has reached over 300 enterprises, encouraging them to adopt cross-border RMB transactions [7].