Core Insights - The China Free Trade Zone Innovation Index for 2024-2025 was released, showing that the Qianhai Shekou Free Trade Zone continues to lead in institutional innovation capabilities for the fourth consecutive year [1] - The index evaluates 57 free trade pilot zones across five dimensions: investment liberalization, trade facilitation, financial reform and innovation, government function transformation, and legal environment [1] - From 2015 to 2024, the total import and export value of the Qianhai Shekou Free Trade Zone increased from 71.2 billion to 537.98 billion, with an average annual growth rate exceeding 25% [1] Group 1 - The Qianhai Shekou Free Trade Zone has implemented innovative policies such as offshore trade tax incentives, allowing eligible companies to enjoy tax exemption and refund policies [2] - The zone has seen the establishment of foreign-funded hospitals and support for Hong Kong, Macau, and Taiwan doctors to open clinics within the area [2] - A pilot program for integrated currency pool business has been launched, with a business scale exceeding 30 billion [2] Group 2 - The Qianhai Shekou Free Trade Zone has improved its port and transportation network, achieving full coverage of major inland river ports in the Greater Bay Area [2] - Initiatives such as the establishment of a one-stop service center for foreigners and the construction of cross-border data verification platforms have been implemented [2]

近日，中国人民银行、国家外汇管理局联合印发《关于金融支持福建探索海峡两岸融合发展新路 建设 两岸融合发展示范区的若干措施》（以下简称《若干措施》）。 6月15日，介绍《若干措施》出台背景、政策亮点及下一步工作举措的政策发布会在福建厦门举行。中 国人民银行党委委员、副行长陆磊，福建省委常委、常务副省长王永礼，中国人民银行研究局副局长纪 敏，中国人民银行福建省分行党委书记、行长张庆昉，厦门市委常委、常务副市长黄燕添，福建省直有 关部门和福州、泉州负责同志出席新闻发布会。 陆磊表示，2023年9月，中共中央、国务院发布《关于支持福建探索海峡两岸融合发展新路 建设两岸融 合发展示范区的意见》（下称《意见》），从建设台胞台企登陆第一家园、促进闽台经贸深度融合、促 进福建全域融合发展、深化闽台社会人文交流等方面系统擘画了两岸融合发展示范区建设的宏伟蓝图。 《若干措施》涵盖四方面12条政策措施，是金融领域贯彻落实《意见》的务实举措，是金融支持福建探 索深化两岸融合发展新机制新路径新模式的具体实践，是完善增进两岸同胞利益福祉的制度安排。 王永礼表示，建设两岸融合发展示范区是党中央赋予福建的重大政治责任和历史使命。中国人民银行 ...

Core Viewpoint - The People's Bank of China and the State Administration of Foreign Exchange have issued measures to deepen financial integration between the two sides of the Taiwan Strait, focusing on supporting the development of a financial market in Fujian and encouraging Taiwanese enterprises to participate in the mainland financial market [1][2]. Group 1: Financial Market Development - The measures aim to build a multi-level financial market across the Taiwan Strait, promoting the participation of more Taiwanese enterprises in the mainland financial market [1][2]. - The measures include 12 policy initiatives that focus on optimizing the financial ecosystem for cross-strait living, supporting Taiwanese enterprises in Fujian, and enhancing cross-border trade and investment facilitation [1][2]. Group 2: Investment and Financing - Taiwanese enterprises in Fujian can reinvest without registration requirements, and banks will directly handle foreign debt and overseas listing foreign exchange registrations [1][2]. - The measures support the establishment of integrated currency pool operations for eligible enterprises in Fujian, allowing for centralized management of domestic and foreign currency funds [2]. Group 3: Risk Management - The measures emphasize the importance of strengthening cross-border financial risk monitoring and prevention, including assessments of foreign exchange conditions and cross-border capital flows [2]. - Continuous monitoring of risks will be conducted, utilizing various methods such as on-site inspections and risk alerts to manage potential issues effectively [2].

Core Viewpoint - The article discusses the recent measures introduced by the People's Bank of China and the State Administration of Foreign Exchange to enhance financial support for the integration development of the two sides of the Taiwan Strait, particularly focusing on the establishment of a demonstration zone in Fujian [1][3]. Group 1: Policy Measures - The measures include 12 specific policies aimed at improving payment services for foreign individuals in Fujian, facilitating foreign exchange transactions, and supporting banks in optimizing new types of cross-border trade settlements [3][4]. - There is an emphasis on allowing banks in Fujian to handle cross-border RMB payment services for Taiwanese individuals involved in legal property transactions [3][4]. Group 2: Financial Services Enhancement - The measures aim to enhance the payment service level for foreign individuals in Fujian by guiding banks to upgrade ATMs and enable foreign bank card cash withdrawals [4]. - The initiative includes facilitating foreign exchange transactions for qualified enterprises in pilot cities like Fuzhou, Xiamen, and Quanzhou, allowing for post-verification of certain foreign exchange expenditures [4][5]. Group 3: Investment and Financing Facilitation - Taiwanese enterprises in Fujian can conduct reinvestments without registration, and banks will directly handle foreign debt and overseas listing foreign exchange registrations [5]. - The measures support the establishment of integrated currency pools and encourage Taiwanese enterprises to participate in the mainland financial market, including listing on the mainland stock exchanges [5].

Core Viewpoint - The recent issuance of the "Opinions on Implementing the Strategic Enhancement of Free Trade Pilot Zones" by the Central Committee of the Communist Party of China and the State Council aims to inject more stability and certainty into global trade and investment development, particularly benefiting the Chongqing Free Trade Zone [1][3]. Group 1: Policy and Strategic Importance - The Chongqing Free Trade Zone has been a pioneer in reform and opening-up since its establishment in April 2017, contributing significantly to the national economy through innovative institutional achievements [1][4]. - The timing of the "Opinions" is crucial, as it reflects China's commitment to expanding openness and countering tariff bullying amid global economic challenges [3][6]. - The "Opinions" signal a clear intention to enhance the level of institutional openness and the quality of the open economy in the Chongqing Free Trade Zone [3][6]. Group 2: Economic Contributions and Achievements - The Chongqing Free Trade Zone occupies only 1.46% of the city's area but accounts for over 10% of new enterprises, nearly 50% of actual foreign investment, and about 66% of the total foreign trade import and export volume in the city [4]. - The zone has made significant strides in creating a high-level free trade park, focusing on investment and trade facilitation, high-end industry aggregation, efficient regulation, and improved financial services [4][6]. Group 3: Future Development and Recommendations - The "Opinions" provide a clear path for the future development of the Chongqing Free Trade Zone, emphasizing the need to leverage policy advantages and create replicable experiences for national reform and opening-up [9][10]. - The zone should enhance its influence in the western region and nationally, collaborating with various platforms to expand cross-border e-commerce and international cooperation [9][10]. - There is a need to address fragmentation in the construction of the Free Trade Zone and aim for the establishment of the first inland free trade port [10][11].