Group 1 - The "BRICS cooperation" aims to uphold its founding purpose, align with the needs of the times, maintain and practice multilateralism, and contribute to global stability and development [1] - China emphasizes the importance of an open world economy, opposing unilateralism and protectionism, and promoting trade and investment liberalization [1][2] - Financial openness is a crucial part of China's external opening, which is essential for achieving high-quality development [1] Group 2 - Recent international trade order and multilateral trade systems have faced significant challenges, but China remains committed to opening up as the world's second-largest economy [2] - The State Administration of Foreign Exchange launched a new offshore international trade business verification application to enhance cross-border financial service convenience [3] - The new application aims to improve the efficiency of cross-border fund settlement for new offshore international trade, supporting the development of the real economy [3][4] Group 3 - The "Belt and Road" initiative has led to practical cooperation results, such as the expansion of the Caspian Sea asphalt plant, which will alleviate Kazakhstan's infrastructure needs [5][6] - Since the initiative's inception in 2013, China has signed over 200 cooperation documents with more than 150 countries, with a 2.2% year-on-year increase in trade with these countries in Q1 [6] Group 4 - Foreign financial institutions are accelerating their presence in China as the economy transitions and the financial market opens [7] - Attracting foreign investment can drive economic growth, job creation, and technological advancement in China [7] - Chinese banks are optimizing financial services to support foreign enterprises in deepening their market presence in China [7]

Core Insights - The State Administration of Foreign Exchange (SAFE) in Shanghai has launched a new offshore international trade business background verification application to ease the authenticity verification challenges in offshore trade [1] - The application was piloted on June 9, allowing Agricultural Bank of China (ABC) Shanghai Branch to conduct authenticity verification for multiple trading companies in the Lingang New Area [1] - The new application integrates various verification data from customs, international transport, and port operations to provide banks with document verification and risk prevention services [1] Group 1 - The new offshore international trade business background verification application aims to facilitate offshore trade transactions and alleviate the difficulties faced by banks in their operations [1] - The application connects with the Shanghai Free Trade Zone's "Offshore Link" platform, enhancing the verification process through data sharing [1] - The initiative is part of a broader effort to promote high-level openness and convenience in cross-border trade, leveraging technology and data [1] Group 2 - ABC Shanghai Branch has actively utilized the cross-border financial service platform to optimize its services and enhance risk management capabilities [2] - The bank plans to continue leveraging the growing applications and functionalities of the cross-border financial service platform to support enterprises in exploring new offshore business models [2] - This initiative contributes to the high-quality development of Shanghai's foreign-related economy and strengthens China's ability to manage global trade resources [2]

Core Viewpoint - The State Administration of Foreign Exchange (SAFE) has launched a new offshore international trade business background verification application scenario, initially piloted in several provinces, aimed at enhancing the authenticity verification of trade backgrounds for banks [1]. Group 1: New Application Scenario - The new application scenario integrates logistics data such as international cargo transportation, overseas port loading and unloading, and customs declaration, providing banks with enhanced capabilities for verifying logistics information and document endorsement [1]. - This initiative addresses the challenges of verifying the authenticity of new offshore international trade, marking an important exploration by SAFE [1]. Group 2: Pilot Implementation - The Bank of China Ningbo Branch successfully completed background verification for two foreign trade enterprises on the same day the pilot was launched, becoming one of the first financial institutions in Ningbo to utilize this new platform [1]. - Since the pilot began, the Bank of China Ningbo Branch has actively engaged in policy training and customer service to promote the new application features [1]. Group 3: Future Development - The Bank of China Ningbo Branch plans to continue leveraging its professional advantages and the innovative applications of the cross-border financial service platform to optimize service processes and expand the pilot program [2]. - The goal is to support the development of new offshore international trade businesses and contribute to high-quality regional economic development and open-up efforts [2].