Xiamen FTZ sets up a shipping financial center on June 14. [Photo/WeChat ID: gh_6233022b6145]
The Xiamen Area of China (Fujian) Pilot Free Trade Zone unveiled a shipping financial center on June 14.
This center is the city's inaugural financial service institution that exclusively caters to the needs of shipping enterprises.
During the opening ceremony, the Bank of China Xiamen branch introduced the Shipping Financial Services Program, which offers seven specialized financial services – financing, settlement, account management, credit enhancement, foreign exchange risk hedging, intelligent enterprise management, and insurance services – tailored to the diverse requirements of shipping enterprises.
To further enhance the level of shipping financial services and bolster the international competitiveness of the port and shipping industry, Xiamen recently issued an action plan aimed at accelerating the development of shipping financial services.
The administrative committee of Xiamen FTZ has always prioritized the reform and innovation of shipping finance and has taken significant steps to drive the development of shipping finance by establishing dedicated shipping financial service platforms and improving financial services for the shipping industry.