2025.07. 24 本文字数：3852，阅读时长大约6分钟 作者 | 第一财经 亓宁 近期，富国银行高管、国际保理商联合会（FCI）主席茅晨月因"涉及中方在办的一起刑事案件，被 中方执法部门依法采取限制出境措施"，相关消息受到国内外关注。茅晨月主管的国际保理业务也因 此成为市场焦点，引发各种猜测。 据第一财经记者从部分银行和保险人士处了解到，国际保理与国内保理业务功能类似，对作为供应商 的出口企业来说，主要作用是可以加速资金回流、规避买方违约风险等。但因为涉及跨境，业务细节 会更为复杂。 关于跨境供应链金融数字平台的应用及其高效"连通"作用，一家外资银行供应链金融在中国的区域负 责人刘冰对记者表示， 相比国内基于数字化平台的应收账款电子凭证已经较为成熟，数字平台和金 融工具的跨境使用仍有难度，当前国际保理业务的电子化程度不高，多数仍以传统的应收账款融资为 主。 那么，国际保理业务能否利用监管漏洞突破外汇管制？出口商虚构交易、绕道融资的动力多大、风险 几何？ 综合受访人士观点来看， 通过所谓的NRA账户（境外机构境内账户）+FT账户（自由贸易账户）组 合逃汇的难度非常大；虚构交易将损害无追索条款有效性，出口 ...

近期，富国银行高管、国际保理商联合会（FCI）主席茅晨月因"涉及中方在办的一起刑事案件，被中方 执法部门依法采取限制出境措施"，相关消息受到国内外关注。茅晨月主管的国际保理业务也因此成为 市场焦点，引发各种猜测。 国际保理业务对外贸企业有何作用？主要操作模式是什么？可能存在哪些风险和漏洞？ 据第一财经记者从部分银行和保险人士处了解到，国际保理与国内保理业务功能类似，对作为供应商的 出口企业来说，主要作用是可以加速资金回流、规避买方违约风险等。但因为涉及跨境，业务细节会更 为复杂。 保理业务突破外汇管制并不容易。 关于跨境供应链金融数字平台的应用及其高效"连通"作用，一家外资银行供应链金融在中国的区域负责 人刘冰对记者表示，相比国内基于数字化平台的应收账款电子凭证已经较为成熟，数字平台和金融工具 的跨境使用仍有难度，当前国际保理业务的电子化程度不高，多数仍以传统的应收账款融资为主。 那么，国际保理业务能否利用监管漏洞突破外汇管制？出口商虚构交易、绕道融资的动力多大、风险几 何？ 综合受访人士观点来看，通过所谓的NRA账户（境外机构境内账户）+FT账户（自由贸易账户）组合 逃汇的难度非常大；虚构交易将损害无追索条 ...

Core Viewpoint - The Tianjin Free Trade Zone (FTZ) has achieved significant financial reform and innovation, enhancing cross-border trade and investment facilitation, which has positively impacted foreign trade enterprises [2][3][10]. Group 1: Financial Innovation and Cross-Border Trade - The Tianjin FTZ has introduced a new international factoring business model that allows companies to quickly receive payments for exports, exemplified by Huatu Auto's successful transaction with Azerbaijan [1][3]. - As of the end of 2024, the FTZ has seen the establishment of nearly 87,000 business entities, a threefold increase since its inception, and has facilitated cross-border transactions totaling $427.6 billion [1][4]. - The People's Bank of China has implemented 40 policy measures to promote cross-border trade and investment liberalization, which have been effective and replicated nationwide [4][5]. Group 2: Support for Small and Medium Enterprises - Small and medium-sized foreign trade enterprises are increasingly becoming vital players in international markets, but they face challenges such as long payment cycles and potential credit risks from overseas buyers [6][7]. - Financial institutions are encouraged to enhance support for these enterprises through short-term loans, trade financing, and customized cross-border payment services [7][8]. - Huatu Auto has benefited from financial support, receiving credit lines that have allowed for business growth, reflecting the importance of tailored financial solutions for SMEs [7][8]. Group 3: Government and Financial Institution Collaboration - Recent initiatives by the People's Bank of China and local government bodies aim to strengthen support for foreign trade enterprises, including policy advocacy and direct engagement with businesses [10][11]. - The Tianjin Customs has implemented measures to streamline export processes for automobiles, enhancing operational efficiency for exporters [10]. - The establishment of overseas warehouses for automotive exports is being supported to facilitate the international expansion of related services and products [10].

Core Viewpoint - The joint issuance of the "Opinions" by the central bank, financial regulatory authorities, and the Guangdong provincial government aims to enhance financial support for Nansha, promoting its role in the Guangdong-Hong Kong-Macao Greater Bay Area development through 30 key measures [1][4]. Financial Services for Innovation and Entrepreneurship - Support for enterprises aligned with Nansha's industrial development through bill financing and encouragement of "loan + external direct investment" models [4] - Promotion of high-end manufacturing industries and social capital investment, including mechanisms for accounts receivable confirmation and support for issuing technology innovation bonds [4] - Facilitation of youth innovation and entrepreneurship, allowing Hong Kong and Macao residents equal access to support policies and employment opportunities [4] Social and Livelihood Financial Services - Promotion of cross-border payment systems, credit financing, and the facilitation of international professionals' practices [4] Development of Specialized Financial Services - Encouragement for the Guangzhou Futures Exchange to explore electricity futures and support for green and sustainable bond issuance in Hong Kong and Macao [4] - Establishment of a digital financial research think tank and support for the application of generative AI models in finance [4] - Support for quality securities firms to obtain public fund qualifications and the development of cross-border wealth management pilot programs [4] Cross-Border Financial Innovation and Communication - Research on establishing an international commercial bank in the Greater Bay Area and support for Hong Kong and Macao investors to set up securities and fund companies [5] - Promotion of higher-level trade and investment renminbi settlement facilitation and support for fund companies in Nansha to participate in mutual recognition arrangements [5] Support Measures - Emphasis on increasing policy support, including housing and talent policies, to create favorable conditions for domestic and international professionals in Nansha [5]