China News Service, Dalian, December 7 (Reporter Yang Yi) The Dalian Free Trade Area Management Committee announced on the 7th that recently, the Dalian Free Trade Area Management Committee, the Dalian Branch of the State Administration of Foreign Exchange, and the Bank of China Dalian The branch and Trafigura Liaogang International Trade (Liaoning) Co., Ltd. cooperated with all parties to successfully complete a crude oil offshore trading business valued at 63 million U.S. dollars, marking the first new offshore international trading business in Northeast China in the Dalian Free Trade Zone. Landed successfully.
The new type of offshore international trade refers to the trade that occurs between Chinese residents and non-residents, and the goods involved in the transaction do not enter or exit my country's front-line customs or are not included in my country's customs statistics.
Due to the remarkable characteristics of the "three-flow separation" of cargo flow, capital flow and document flow, banks are unable to accurately screen the authenticity of trade behavior in accordance with general principles, which restricts the large-scale development of new offshore trade.
Since the beginning of this year, in order to further promote the development of a new type of offshore international trade, the State Council’s "Measures on Promoting the Reform and Innovation of Trade and Investment Facilitation in Pilot Free Trade Zones" issued in August this year clearly stated support for the development of new types of offshore trade in pilot free trade zones. Trade, support banks to explore the specific requirements of new type of offshore trade authenticity management innovation.
In order to accelerate the implementation of the new type of offshore trade in the Dalian Free Trade Area, the area actively organizes various parties to hold discussions, audio and video conferences, and conduct in-depth research on business processes and risk prevention measures.
The Dalian Free Trade Zone and financial institutions finally formed a complete set of innovative management service systems in strengthening prior due diligence, optimizing business audits, and strengthening post-event monitoring, and took the lead in providing high-level financial support and cross-border financial support for enterprises to develop new types of offshore trade businesses. The facilitation service of offshore fund settlement has created conditions for the landing and large-scale development of new offshore trading businesses.
Zhuang Shuguo, director of the Investment Promotion Bureau of Dalian Free Trade Zone, said that offshore trade, as a special form of international trade, has become the largest trade model in advanced international free trade ports such as Hong Kong, London, Dubai, and Singapore.
The development of offshore trade will accelerate the gathering of high-end elements such as capital, talents, logistics, information, data, and trade decision-making, which is of far-reaching significance for serving the innovation and development of the real economy, improving the integrity of the industrial chain supply chain, and enhancing the ability to allocate resources in the international market .
"Through the new offshore trade model, companies like Tuoke Liaogang can give full play to their advantages in the allocation of international bulk commodity resources, and reduce transaction costs for upstream and downstream enterprises. At the same time, it also facilitates the collection of capital and information flows, which is important for local economic development. Form a greater contribution." Zhuang Shuguo said.
The management committee of the Dalian Free Trade Area stated that in the next step, the Dalian Free Trade Area will benchmark against advanced international free trade ports, relying on the development advantages of oil and gas and other bulk commodities, and further deepen the pilot work of new offshore trade for enterprises. The new type of offshore trade provides first-class market conditions and convenient services.