Group 1: Offshore Financial Development - The successful issuance of offshore bonds in Shanghai Free Trade Zone, with a scale of 500 million yuan, supports overseas entities in raising funds in international markets, marking a significant step in the development of offshore RMB bonds [2] - The new pilot scheme for offshore trade finance aims to streamline the settlement process from 2-3 days to "second-level," enhancing competitiveness with established offshore centers like Hong Kong and Singapore [2] - As of July 18, participating offshore trade companies completed 22 transactions with a total cross-border payment of 648 million yuan [2] Group 2: Growth in Offshore Trade - In Q1 2025, the offshore trading volume in the Lingang New Area reached approximately 8.15 billion USD, reflecting a year-on-year growth of 56.67% [3] - The Lingang New Area plans to leverage its offshore trade platform and financial pilot to create a model for global order reception, overseas processing, and settlement in Lingang [3] Group 3: Financial Market Infrastructure - Shanghai is recognized as one of the cities with the most comprehensive global financial factor markets, including stocks, bonds, futures, and gold markets, alongside essential financial infrastructure [4] - Recent regulatory measures have further strengthened Shanghai's position as an international financial center [4] Group 4: Cross-Border RMB Payment System - The CIPS (Cross-Border Interbank Payment System) has launched RMB international letter of credit services, enhancing convenience for enterprises in RMB trade settlements [7] - In the first half of the year, Shanghai's cross-border RMB payment totaled 16.2 trillion yuan, a year-on-year increase of 15%, maintaining its leading position nationally [7] Group 5: Foreign Investment and QDII Expansion - A new batch of QDII (Qualified Domestic Institutional Investor) quotas totaling 3.08 billion USD has been approved, allowing foreign banks to support clients in global asset allocation [8][10] - The expansion of QDII quotas is expected to enhance the ecosystem for capital market flows and inject long-term confidence into the market [10] - Foreign financial institutions are accelerating their presence in Shanghai, with significant investments in various sectors, including insurance and asset management [10]

Group 1: Offshore Financial Development - The successful issuance of offshore bonds in Shanghai Free Trade Zone, with a scale of 500 million yuan, supports overseas entities in raising funds in international markets, marking a significant step in the development of offshore financial services [2] - The new pilot program for offshore trade finance aims to streamline settlement processes, reducing the time from 2-3 days to "second-level" transactions, enhancing competitiveness with established offshore centers like Hong Kong and Singapore [2] - As of July 18, participating offshore trade companies completed 22 transactions with a total cross-border revenue of 648 million yuan [2] Group 2: Growth in Offshore Trade - In Q1 2025, the offshore trading volume in the Lingang New Area reached approximately 8.15 billion USD, reflecting a year-on-year growth of 56.67% [3] - The Lingang New Area plans to leverage its offshore trade platform and financial pilot programs to create a "global order, overseas processing, Lingang settlement" model, aiming to unlock further growth potential in offshore trade [3] Group 3: Financial Market Infrastructure - Shanghai is recognized as one of the cities with the most comprehensive global financial factor markets, including stocks, bonds, futures, and gold markets, alongside essential financial infrastructure [3] - Recent financial management initiatives have strengthened Shanghai's international financial center, enhancing its market and infrastructure [3] Group 4: Capital Market and Foreign Investment - The recent approval of a new batch of Qualified Domestic Institutional Investor (QDII) quotas, totaling 3.08 billion USD, allows foreign banks to support clients in broader global asset allocation [7][8] - Foreign investment institutions are increasingly participating in China's capital market, with foreign entities accounting for about one-third of licensed financial institutions in Shanghai [9] - The expansion of QDII quotas is expected to optimize the ecosystem for capital market flows, injecting long-term confidence into the market [8]

人民币跨境支付又迎来新进展！ 日前，人民币跨境支付系统（CIPS）与多家外资机构举行直接参与者签约，进一步便利了跨境人 民币使用。 跨境银行间支付清算有限责任公司董事长汪洪波表示，通过搭建CIPS全球参与者与涉外企业深度 交流与合作的平台，可以更好服务中资企业"走出去"，更好服务人民币国际化和在境外广泛使用。 记者了解到，此次签约的外资机构包括非洲进出口银行、阿布扎比第一银行、吉尔吉斯斯坦Eldik Bank、大华银行等。这意味着，CIPS境外外资直接参与者首次覆盖非洲、中东、中亚及新加坡离岸人 民币中心。 据跨境清算公司数据统计，CIPS系统共有参与者1683家，其中直接参与者174家，境外直接参与者 占比72%；间接参与者1509家，境外间接参与者占比63%。 在提升网络覆盖广度和深度的同时，跨境银行间支付清算有限责任公司也在丰富跨境金融服务。 信用证是国际贸易中最常用的结算方式之一。日前，CIPS人民币国际信用证业务在五大国有银行 相关海外分行，渣打银行、汇丰银行、开泰银行、巴西Master Bank等外资银行，以及中国五矿、通用 技术集团等企业见证下正式开通。 记者了解到，CIPS国际信用证服务，通过 ...

活动期间，CIPS人民币国际信用证业务在五大国有银行相关海外分行、渣打银行、汇丰银行、开泰银 行、巴西Master Bank等外资银行以及中国五矿、通用技术集团等企业见证下正式开通。信用证是国际 贸易中最常用的结算方式之一，CIPS国际信用证服务是跨境清算公司为便利市场主体以人民币为结算 币种开展国际贸易结算推出的信息服务，该业务开通对优化中国与全球各地区双边人民币贸易结算具有 重要意义。 博通咨询首席分析师王蓬博告诉记者，CIPS正面临前所未有的机遇。随着共建"一带一路"倡议的推进和 中国金融市场的持续开放，越来越多的国家和地区愿意采用人民币进行跨境交易，这为CIPS带来了广 阔的发展空间。同时，CIPS不断优化系统功能和服务体系，提升用户体验，增强了对全球金融机构的 吸引力。 21世纪经济报道记者 唐婧 边万莉 上海报道 "越来越多的国家和地区使用本币结算，促进更多货币的国际化使用，单一主权货币主导跨境支付的局 面正逐步改变。"中国人民银行行长潘功胜在2025陆家嘴论坛开幕式上表示。他还称，中国已初步建成 多渠道、广覆盖的人民币跨境支付清算网络。 同日，为期三天的人民币跨境支付系统（CIPS）跨境银企合作 ...

Group 1: CIPS Developments - The Renminbi Cross-Border Payment System (CIPS) signed agreements with six foreign institutions, marking the first coverage of direct foreign participants in Africa, the Middle East, Central Asia, and Singapore [1] - CIPS officially launched its international letter of credit business, which is significant for optimizing bilateral Renminbi trade settlements globally [4] Group 2: Central Bank Initiatives - The People's Bank of China has signed bilateral currency swap agreements with over 30 countries and regions, enhancing the global financial safety net [3] - The central bank is exploring the possibility of increasing the regular issuance of Special Drawing Rights (SDR) to enhance its role as an international reserve asset [5] Group 3: Technological Advancements - The application of new technologies such as blockchain is accelerating the development of central bank digital currencies and stablecoins, reshaping traditional payment systems [2] - Huawei's executive highlighted that the proportion of 5G-connected vehicles in China's passenger car sales is expected to rise to 95% by 2030, indicating a significant growth opportunity in the smart connected vehicle sector [6] Group 4: Regulatory Changes - The China Securities Regulatory Commission (CSRC) announced the reintroduction of listing standards for unprofitable companies on the Sci-Tech Innovation Board, aiming to enhance inclusivity for quality tech firms [9] - The CSRC is implementing new measures to facilitate mergers and acquisitions, including a phased payment mechanism for share consideration [10] Group 5: Market Trends - Market research indicates that Samsung's reduction in DDR4 supply may lead to a shortage, with prices for DDR4 components significantly increasing, which could accelerate the transition to DDR5 [8]

Core Viewpoint - The launch of the CIPS international letter of credit service marks a significant step in facilitating cross-border trade settlements in RMB, enhancing bilateral trade settlement between China and global regions [1] Group 1: CIPS International Letter of Credit Service - The CIPS international letter of credit service was officially launched during a special event on June 18, attended by major state-owned banks, foreign banks, and enterprises [1] - This service aims to optimize RMB trade settlements between China and various global regions, highlighting its importance in international trade [1] - The service is designed to provide information services for market participants to conduct international trade settlements in RMB [1]

Group 1 - The CIPS (Cross-border Interbank Payment System) will officially launch its RMB international letter of credit business during the 2025 Lujiazui Forum, enhancing cross-border payment capabilities for RMB [1] - As of May 2025, CIPS has 174 direct participants and 1,509 indirect participants, covering over 4,900 legal banking institutions across 187 countries and regions [1] - The event aims to facilitate deep communication and cooperation between global participants of CIPS and foreign enterprises, focusing on trends and opportunities in RMB cross-border payments [1] Group 2 - The event will feature nearly 30 foreign financial institutions, including major global banks and regional mainstream banks, covering nearly 40 countries and regions across six continents [2] - Activities will include signing and launching ceremonies for direct participants, new business openings, themed sessions, and discussions to expand the cross-border payment network [2] - The CIPS international letter of credit business aims to provide more efficient and convenient cross-border financial services for international trade activities [2]