Expand cross-border financing channels for enterprises, increase support for export credit insurance, optimize exchange rate hedging and cross-border RMB settlement services... At present, a series of financial policies have been accelerated to help foreign trade enterprises reduce costs, maintain orders and stabilize expectations. Stabilizing foreign trade concerns the overall economic situation. While continuing to introduce the policy of stabilizing foreign trade, we should further strengthen the implementation. "Next, we will continue to strengthen financial support for foreign trade and foreign investment, focusing on optimizing cross-border RMB business policies." Li Bin, director of the macro Prudential administration of the people's Bank of China, said that we should take multiple measures to help stabilize the basic market of foreign trade. Financing support is strengthened again According to the latest data, in May, the total import and export of goods increased by 9.6% year-on-year, 9.5 percentage points faster than that of the previous month. At the same time, China's foreign trade still faces some challenges. WangShouwen, Vice Minister of the Ministry of Commerce and deputy representative of international trade negotiations, said that there were a series of uncertain factors in China's foreign trade: the price of raw materials increased significantly; The world economic recovery is fragile and the demand growth is slow; The pressure of global inflation is great, which will erode global consumers' spending on foreign trade products. Since the beginning of this year, the production and operation of some foreign trade enterprises, especially small, medium and micro enterprises, has been blocked, and the financial pressure has increased sharply. The opinions on promoting the stability and quality of Foreign Trade issued by the general office of the State Council clearly stated that export credit support should be increased. For foreign trade enterprises with good development prospects and temporarily in difficulties, banks should not blindly withhold, withdraw, cut off or suppress loans to meet the reasonable capital needs of enterprises. "Financing support needs to be strengthened." Liaolin, President of the industrial and Commercial Bank of China, said that ICBC would provide precise support to key groups such as foreign trade and foreign investment, and "make every loan available, fast and early" for reasonable financing needs. The financing of foreign trade enterprises has its particularity, that is, the domestic and international markets "walk on two legs". In the interview, the reporter found that overseas subsidiaries of large and medium-sized enterprises are easier to obtain overseas financing. They usually rely on domestic group parent companies to obtain overseas financing in the form of "domestic guarantee and foreign loan". However, small, medium and micro enterprises generally lack this advantage and are difficult to borrow foreign debt. In order to enable enterprises to make better use of two markets and two resources, the pilot of cross-border financing facilitation has been expanded recently. "The number of pilot areas has increased to 17, covering 80% of the country's high-tech and 'specialized, special and new' enterprises." Introduction by wangchunying, deputy director of the State Administration of foreign exchange. Steady reduction in operating costs Financing costs, exchange rate hedging costs, shipping costs... Only when operating costs are reduced can benefits be increased and foreign trade enterprises have endogenous momentum. At present, the financing cost has dropped to the lowest level since statistics. "Since the end of last year, the quoted interest rate LPR of 1-year and 5-year loans has been reduced by 15 basis points and 20 basis points respectively, guiding the continuous decline of loan interest rates." Zhou Yu, head of the International Department of the central bank, said that from January to April this year, the enterprise loan interest rate was 4.39%, a further decrease of 0.22 percentage points over the whole year last year. It is worth noting that the cost of exchange rate hedging has made many foreign trade enterprises "anxious". "We used to adopt the spot trading strategy, which followed the market and made unilateral bets. However, under the influence of the complex and severe international situation, the two-way fluctuation range of the RMB exchange rate has increased. If we still follow the old method, the financial cost and management pressure will rise sharply." Laiyanni, a financial officer of Zhejiang hanshun International Trade Co., Ltd., told reporters. It is urgent to reduce the cost of exchange rate hedging. As a major foreign trade province, Zhejiang Province has issued relevant policies to exempt the deposit for the exchange rate hedging business handled by small and micro enterprises under the government financing guarantee. "On this basis, Zheshang Bank will give full preferential interest to the transaction exchange rate at the cost price." Guofeng, the financial director of a daily necessities import and export company in Jiaxing, Zhejiang Province, said that a long-term exchange settlement of 600000 euros was given a discount of 15000 yuan, which is expected to increase exchange earnings by nearly 120000 yuan for the whole year. There is another "coup" to reduce exchange rate risk and exchange cost - foreign trade foreign-funded enterprises use RMB in cross-border trade and investment. At present, the RMB settlement scale is steadily expanding. In the first four months of this year, the RMB cross-border collection and payment scale of goods trade totaled 2.2 trillion yuan, an increase of 26% year-on-year. "Next, we should continue to optimize the RMB settlement environment for cross-border trade and investment." Li Bin said. At the same time, according to the deployment of the State Council, a higher level of trade and investment RMB settlement facilitation pilot will also be carried out in an orderly manner. More stable development expectation In order for foreign trade enterprises to dare to accept orders and be willing to produce, they must stabilize their expectations and reduce their risk concerns. From the international practice, export credit insurance policy is the most common. The opinions on promoting the stability and quality improvement of foreign trade clearly stated that we should increase the support of export credit insurance and expand the scale of short-term insurance of export credit insurance. At present, China's foreign trade enterprises are generally faced with four types of common risks: refusal by importers, high international freight rates, financing difficulties for small, medium and micro enterprises, and rising risks of "going global". Among them, the risk of foreign exchange collection is relatively prominent. From the perspective of general trade exports, the individual business status and credit status of overseas buyers, the monetary policy environment of other countries, regulatory adjustments and many other factors will affect the safety of foreign exchange collection of Chinese enterprises. Export credit insurance has two major functions, one is risk protection, and the other is financing to increase credit. With the elimination of risk concerns and financial support, foreign trade enterprises can enhance their confidence in receiving orders and stabilize their development expectations. "Nearly nine of the enterprises we serve in Chengdu are small and medium-sized enterprises." Wangtingke, President of PICC group, said. In addition, as the main channel of export credit insurance, the underwriting scale of China Export Credit Insurance Corporation has exceeded 350billion US dollars by the end of May this year, with a year-on-year increase of 12.7%, serving 149000 foreign trade enterprises. Risk protection is also a "matchmaker" for financing. As foreign trade enterprises face many risks, commercial banks are often reluctant to lend for them. However, if an insurance institution underwrites the overseas orders and overseas investment projects of the enterprise, the bank can lend on this basis. Once the loan cannot be repaid, the insurance institution shall perform the debt repayment obligation. As a result, the enthusiasm of all parties was mobilized, and the scale of insurance policy financing continued to expand. "Next, banks and export credit insurance institutions should be encouraged to strengthen docking." Lixingqian, director of the foreign trade department of the Ministry of Commerce, said that through "government + Bank + insurance" and other means, foreign trade enterprises will be provided with greater financing facilities and enhance their confidence in exploring the market. (Xinhua News Agency)