Recently, several financial institutions such as the Export Import Bank of China, Industrial and Commercial Bank of China, and Bank of China have successively introduced new measures to increase financial support for foreign trade enterprises and enhance the international competitive advantage of private enterprises. The Export Import Bank of China recently issued the Special Plan on Cultivating Private Enterprises' New Advantages in International Economic and Trade Cooperation and Competition to further strengthen financial support for private enterprises in foreign trade, "going global", participating in the joint construction of the "the Belt and Road" and developing new quality productivity. Industrial and Commercial Bank of China announced that it will assist enterprises in expanding their global markets through measures such as establishing a 300 billion yuan special credit line, innovating loan products, and providing preferential loan interest rates. Bank of China has proposed to strive to provide international trade settlements exceeding 1.7 trillion US dollars for foreign trade enterprises by 2025. The People's Bank of China and the State Administration of Foreign Exchange also said that they would continue to promote the facilitation of cross-border trade investment and financing. In the wave of globalization, banks and other financial institutions play an indispensable role in helping private enterprises explore overseas markets and strengthen foreign trade Liu Dian, Associate Researcher at Fudan University's China Research Institute, said in an interview with Science and Technology Daily that financing support is a key factor - financial institutions provide sufficient financial support for private enterprises by offering diversified credit products, assisting in bond issuance, and providing equity financing, laying a solid foundation for expanding overseas business. Risk management is also one of the important functions of financial institutions In Liu Dian's view, financial institutions can help enterprises effectively manage exchange rate risks and reduce losses caused by exchange rate fluctuations by providing financial instruments such as forward foreign exchange settlement and sales, RMB foreign exchange options, etc. At the same time, banks and other institutions cooperate with credit insurance institutions to promote the "government bank insurance" comprehensive financing model, provide export credit insurance services for private enterprises, ensure the safety of their accounts receivable, and enhance their confidence in exploring overseas markets. The recently released "Action Plan of Bank of China to Support Stable Growth in Foreign Trade" mentioned that it will continue to strengthen cooperation with local governments and credit insurance institutions, enhance information sharing and risk sharing, and actively promote the "government bank insurance" comprehensive financing model. The reporter also noticed that several institutions such as the Export Import Bank of China and Bank of China have specifically mentioned strengthening support for specialized, refined, and innovative "little giants", "hidden champions", and manufacturing industry champions. These high-quality innovative entities possess core technologies in segmented fields and are able to provide high-quality, differentiated products and services that meet the specific needs of overseas markets. In addition, they often have high brand awareness and reputation, and can quickly gain recognition and market share in overseas markets Liu Dian pointed out that it is worth mentioning that they usually occupy an important position in the industrial chain, can integrate upstream and downstream resources, form a complete industrial chain, improve the added value and competitiveness of products, and further enhance the international competitiveness of the entire industrial cluster through cooperation with international enterprises. It is not difficult to see from the recent intensive measures that financial institutions provide more significant depth and breadth of services to high-quality innovative entities such as specialized, refined, unique, and new 'little giants' Liu Dian gave an example that financial institutions tailor financing plans for them, such as providing project financing, syndicated loans, and other services for large overseas projects; Provide overseas market risk assessment and early warning services for enterprises, identify and respond to potential risks in advance. In short, by providing diversified financial services, risk management, policy support, and targeted innovative service models, financial institutions have given solid wings to private enterprises to take off overseas and helped them continuously enhance their international competitiveness Liu Dian said. (New Society)