The total import and export volume of service trade has reached 200 billion yuan! Shanghai Lingang releases a heavyweight implementation plan
On September 21st, the Global Partnership Conference on Service Trade in the Lingang New Area of Shanghai Free Trade Zone was held at the Dishui Lake Financial Bay. At the meeting, the Implementation Plan for Supporting the Deepening of High level Institutional Opening and Promoting Innovative Development of Service Trade in the Lingang New Area was officially released. The plan proposes that by 2025, the total import and export volume of service trade in the Lingang New Area should reach 200 billion yuan in five years, and the cross-border digital trade volume should achieve an average annual growth of 10%. The proportion of total import and export volume of service trade to the total service trade in the city will significantly increase.
The Service Trade Innovation Business Base of Agricultural Bank of China Shanghai Branch was unveiled at the same time. Chen Qichang, Secretary of the Party Committee and President of the Shanghai Branch of Agricultural Bank of China, stated that Agricultural Bank of China established the first Lingang New Area Branch in August 2019, and has always been committed to participating in the construction of the emerging financial ecosystem in the new area and serving new international trade customers. Focusing on practical needs such as convenient and efficient transactions, Agricultural Bank of China has achieved good results in business volume growth of 102%, 98%, and 654% year-on-year in international settlement, foreign exchange settlement and sales, and cross-border RMB. In the future, Agricultural Bank of China will focus on supporting the development of financial innovation business in free trade zones, supporting new formats and models such as cross-border e-commerce, and promoting high-quality development of service trade.
Eleven industry representative service trade leading enterprises, including Agricultural Bank of China Shanghai Branch, Hongshang Industry Holding Group, and Youzu Network Co., Ltd., have signed the "Service Trade Express Line" in the Lingang New Area. In the future, they will leverage the advantages of cross-border finance in Dishui Lake Financial Bay to create a full scenario financial solution for service trade.
Shanghai Lingang New Area Economic Development Co., Ltd. has signed a centralized contract with 9 units, including the Agricultural Bank of China Shanghai Pilot Free Trade Zone New Area Branch, China Export Credit Insurance Company, Lingang New Area International Intellectual Property Service Port, and Cross border Mathematics, to jointly promote the liberalization and facilitation of international service trade, deepen international exchange and cooperation in service trade, promote the digital process of service trade, and build a talent training system for service trade. The alliance aims to provide high-quality services for service trade enterprises, optimize the international innovation atmosphere, and release new momentum for the development of international service trade.
The Offshore Trade Professional Committee of the Shanghai International Chamber of Commerce is simultaneously unveiled, and in the future, it will fully leverage the functional role of the International Chamber of Commerce to provide comprehensive service support for service trade enterprises.
Chen Jinshan, member of the Standing Committee of the Municipal Party Committee, Secretary of the Party Working Committee of Lingang New Area, and Director of the Management Committee, attended the event.