On January 19, 2024, the Information Office of Nanning Municipal People's Government held a press conference on the construction of the core area of Nanning, a financial open gateway to ASEAN, inviting Zeng Xueye, secretary of the Party Leadership Group and director of Nanning Financial Work Office, and Wu Qiang, deputy director of the Financial Research Division of the Guangxi Zhuang Autonomous Region Branch of the People's Bank of China, Li Caili, Deputy Director of the Statistical Information and Risk Monitoring Division of Guangxi Regulatory Bureau of the State Administration of Financial Supervision and Administration, Chen Huixian, Deputy Director of the Comprehensive Division of Guangxi Securities Regulatory Bureau, Yang Qiang, Director of the Finance Bureau of the Management Committee of Wuxiang New Area (Nanning Area of the Pilot Free Trade Zone), introduced the relevant information and answered questions from reporters. The press conference was hosted by Li Min, Chief of the Press Release Section of the Publicity Department of the CPC Nanning Municipal Committee.

Press Conference on the Construction of Nanning Core Area, a Financial Open Door to ASEAN

Time:

9:30 on Friday, January 19, 2024

Published by:

Zeng Xueye Secretary of the Party Leadership Group and Director of Nanning Financial Work Office

Wu Qiang Deputy Director of Financial Research Division of Guangxi Zhuang Autonomous Region Branch of the People's Bank of China

Li Caili Deputy Director of the Statistical Information and Risk Monitoring Division of Guangxi Regulatory Bureau of the State Financial Supervision and Administration

Chen Huixian, Deputy Director of Comprehensive Department of Guangxi Securities Regulatory Bureau

Director of Finance Bureau of Management Committee of Yangqiang Wuxiang New Area (Nanning Area of Free Trade Zone)

host:

Li Min Chief of the Press Release Section of the Publicity Department of Nanning Municipal Party Committee

Li Min:

Ladies and gentlemen, friends from the press:

Good morning! Welcome to the press conference of Nanning Municipal Government Press Office.

Today's press conference will mainly introduce the construction of Nanning core area, a financial open door to ASEAN. Present at today's press conference are Ms. Zeng Xueye, Secretary of the Party Leadership Group and Director of Nanning Municipal Finance Office, Mr. Wu Qiang, Deputy Director of the Financial Research Division of the Guangxi Zhuang Autonomous Region Branch of the People's Bank of China, Ms. Li Caili, Deputy Director of the Statistical Information and Risk Monitoring Division of Guangxi Regulatory Bureau of the State Financial Supervision and Administration, Ms. Chen Huixian, Deputy Director of the Comprehensive Division of Guangxi Securities Regulatory Bureau Mr. Yang Qiang, Director of the Finance Bureau of the Management Committee of Wuxiang New Area (Nanning Area of the Pilot Free Trade Zone).

First of all, let's welcome Ms. Zeng Xueye to introduce the relevant information.

Educated:

Ladies and gentlemen, friends from the press:

Good morning, everyone! It's my pleasure to meet you and take this opportunity to thank you for your long-term attention and support to Nanning's financial work. Now let me introduce to you the construction of Nanning core area, a financial open door to ASEAN.

In December 2018, Guangxi was approved to build a financial opening door to ASEAN, which is the first provincial financial opening strategy approved by the state since the 19th National Congress of the Communist Party of China and the only financial opening strategy to ASEAN. The Party Committee and the government of the autonomous region regard Nanning as the top priority of carrying the construction of the portal, and the Five Elephant New Area is the finishing touch to build a China ASEAN Financial City. Over the past five years, under the strong leadership of the autonomous region's party committee and government, the municipal party committee and the municipal government, we have solidly promoted the construction of the core area of Nanning, a financial opening gateway to ASEAN, and the capital has made historic achievements in financial reform and development. Nanning rose 7 places at the top of the "China Financial Center Index"; In 2020, Nanning's bond issuance was supervised and encouraged by the State Council; From 2019 to 2022, Nanning's financial work was supervised and encouraged by the autonomous region for four consecutive years.

In the past five years, the financial top-level design has been continuously strengthened to provide institutional guarantee for the stability and farsightedness of the construction of Nanning core area, the financial opening portal.

We have set up a comprehensive and multi-level policy system, giving full play to the superposition effect of multiple platforms such as the Guangxi Pilot Free Trade Zone, the new land and sea channel in the west, and the China ASEAN Information Port; Establish a leading group for the core area of financial open portal, and establish a financial joint meeting system with "one bank and two bureaus"; Coordinate financial management departments, financial institutions stationed in Yong and relevant industry departments to strengthen financial innovation and policy coordination, and build a "big finance" working pattern. Formulate 18 documents such as planning and incentive measures, accurately propose and implement the "123456" financial project; The China ASEAN Financial City has 17 buildings with a tax revenue of 100 million yuan.

In the past five years, Nanning's comprehensive financial strength has improved significantly, providing strong support for stable economic growth.

We have made great efforts to develop the modern financial industry, actively expanded the total financial volume, and greatly improved the comprehensive financial strength. From 2018 to 2022, the added value of Nanning's financial industry will grow by 5.7% annually, 1.7 percentage points higher than the average annual growth rate of GDP in the same period. In 2022, the added value of the financial industry will rank first in the proportion of GDP in all industries. In the first three quarters of 2023, the added value of the city's financial industry increased by 5.7% year-on-year, 2.1 percentage points higher than the city's GDP growth, driving the GDP growth by 0.9 percentage points, and contributing 21% to GDP growth.

In the past five years, the financial organization system has been continuously improved, and the function of regional financial centers has been continuously enhanced.

We have deeply implemented the strategy of "introducing money into Yong Dynasty" and introduced 33 licensed branches such as banks, securities and insurance in the past five years. The total number of institutions and the degree of perfection of financial organization system rank top among western cities. To build a China ASEAN Financial City, by the end of 2023, 512 financial institutions (enterprises) had settled in the city, 24.4 times the number by the end of 2018; The Guangxi Service Base of Shanghai, Shenzhen and North Stock Exchanges has been set up, and the "three major exchanges" including Shanghai Futures Exchange, Zhengzhou Commodity Exchange and Dalian Commodity Exchange have all set up a China ASEAN bulk commodity futures and spot service base in Nanning; BOC Hong Kong and China Taiping set up a regional center for ASEAN in Nanning, which has developed into a benchmark project for financial opening to the outside world. The China ASEAN Financial City has become the main platform for China's financial opening and cooperation with ASEAN. "Building a China ASEAN Financial City to Create a New High for Financial Opening and Development" has been selected into the "Typical Case Collection of Guangxi for Building a Magnificent Socialism with Chinese Characteristics in a New Era".

In the past five years, Nanning's financial reform and opening up have been further promoted, adding vitality to economic and social development.

We have systematically promoted a series of pilot reforms in cross-border finance, green finance, insurance innovation, supply chain finance, digital RMB, etc., to create an innovation highland for financial opening up. Implement the "four in one" working mechanism of think tank+Nanning+superior departments+industry, and establish five innovation platforms, including the Guangxi (Nanning) Joint Laboratory for Financial Innovation. Focusing on the "best service area" and "most favorable policy area" of foreign-related finance, five financial reform and innovation pilots, QFLP, domestic and foreign currency bank settlement account system, foreign exchange revenue and expenditure facilitation pilot and other policy measures were implemented to support enterprises to make good use of "two markets and two resources". The number of digital RMB pilot transactions exceeded 3.18 million, and the amount of transactions exceeded 1.9 billion yuan. The pilot scale accounted for more than 90% of the total area; There were 16 first scenes across the country. We took the lead in setting up a supply chain finance association in the region to create a "one chain, one policy" featured supply chain financing model. Promote the facilitation of cross-border RMB settlement. In 2023, the cross-border RMB settlement volume of the city will reach 389.4 billion yuan, accounting for 80% of the region, 19 times that of 2018, making it the largest and fastest growing city in the region. The local financial risk early warning platform was rated as the first typical case of national digital supervision, and the cases such as the Pilot of Foreign invested Equity Investment Enterprises were rated as the top ten innovative cases of Guangxi's construction of an open financial portal to ASEAN.

In the past five years, Nanning's financial services to the real economy have improved in quality and efficiency, providing high-quality services for economic and social development.

We focus on deepening the structural reform of the financial supply side, strengthening fiscal and financial linkage, building a "first loan renewal+city and county level" normalized docking mechanism between government, finance and enterprises, comprehensively leveraging more financial resources and social capital into the real economy by means of "Gui Hui loan", government financing guarantee, emergency lending funds, etc., and financial support for poverty alleviation, rural revitalization, scientific and technological innovation Significant strategic achievements have been made in the modern industrial system. The balance of local and foreign currency deposits and loans in Nanning increased from 2.3 trillion yuan at the end of 2018 to 3.6 trillion yuan at the end of 2023, with an average annual growth of 9.4%; "Guihuidai" has invested a total of 178.44 billion yuan, benefiting 38000 market entities, reducing enterprise financing costs by 3.5 billion yuan, and its investment amount and number of households continue to rank first in the region; The index of obtaining credit ranked first in the third-party assessment of the business environment of the whole district, and the financing cost continued to be lower than that of the whole district.

Vigorously develop the capital market. The first listing expert service group mechanism was established in the region, and "six major projects" such as enterprise cultivation and listing were carried out to form a pattern of "cultivating one batch, coaching one batch, submitting one batch for approval, and listing one batch". Since 2019, three new listed companies, five new three board listed companies, one listed enterprise under review, five Guangxi Securities Regulatory Bureau counseling and filing enterprises 59 listed backup enterprises in the autonomous region, with all indicators ranking first in the region. Deepen the reform of the investment and financing system, take the lead in setting up angel funds, venture capital funds and high-quality industrial development funds in the region, build a fund support system covering the whole life cycle of enterprises, introduce a number of major industrial projects such as Longdian Huaxin, Huaxin Zhenbang, etc. through capital investment, and have accumulated 47 projects invested to promote the effective linkage and two-way empowerment of industry, technology and capital.

In the past five years, the financial opening and cooperation towards ASEAN has been deepening, and the connotation of "Nanning Channel" has been expanding in breadth and depth.

The 20th China ASEAN Expo, the 15th China ASEAN Financial Cooperation and Development Leaders Forum and the CICA Financial Summit were successfully held in Nanning. The China ASEAN cross-border credit service platform has supported the query of enterprise data in more than 230 countries and regions, covering 7.87 million overseas enterprises in ten ASEAN countries and 37000 domestic foreign trade enterprises, providing two-way, convenient and comprehensive credit service for bilateral market entities, and providing cross-border trade, investment and financing decision-making information reference. Support the construction of the China ASEAN Institute of Financial Cooperation, and actively carry out academic exchanges and training activities with universities in ASEAN countries. The first regional RMB internationalization report was released in Nanning for four consecutive years, and Nanning has become the main channel for financial exchanges and cooperation between China and ASEAN.

Next, we will fully implement the spirit of the Central Financial Work Conference, adhere to the political and people oriented nature of financial work, promote the upgrading of the core area of Nanning, the financial opening gateway to ASEAN, and contribute more financial strength to the writing of the chapter of Chinese style modernization of Nanning!

Li Min:

Thank Ms. Zeng Xueye for her introduction. Now let's begin to ask questions. Before asking questions, please inform the news agency you represent. Raise your hand if you have any questions.

China News Service reporter: The green financial reform and innovation demonstration zone and the insurance innovation comprehensive demonstration zone are important components of the core area construction of Nanning, a financial opening gateway to ASEAN. What are the practices and achievements of Nanning in building a "double demonstration zone"?

Educated:

Nanning is the only city in the district that has been approved as a "double demonstration zone" for green finance and insurance innovation. After more than three years of construction, the construction of "double demonstration areas" has achieved remarkable results, ranking first in the assessment and evaluation of the autonomous region.

In terms of green finance, we deepened the reform of the system and mechanism, built a system covering organizational system, service platform, system standards, product services and other support for green finance development, and fully served the "dual carbon" strategy. At present, the number of green franchised organizations in the city has reached 97, and the number, level, type and business scale of the organizations rank first in the region. Build green financial service centers, ASEAN oriented green certification centers and other platforms, issue green enterprise and green project identification standards, certify 17 green enterprises, and focus on promoting the flow of financial resources to green industries (enterprises). Deepen digital financial inclusive services, initiate the "Green Gold Platform+Xinyi Loan", "Green Gold Platform+Guixinrong" and other models, break down the data barriers of "institutions government enterprises", and open up the connection channels of "data flow credit flow capital flow". At present, 139 financing products have been launched, with a credit amount of 78.6 billion yuan and 8417 service enterprises. At the end of the third quarter of 2023, the balance of green loans in Nanning will be 256.2 billion yuan, accounting for 42% of the whole district, ranking first in terms of scale and proportion.

In terms of insurance innovation, we focus on gathering insurance element resources and consolidating the foundation of insurance innovation. First, we vigorously built a modern insurance industry chain and introduced 10 licensed insurance institutions, including China Post Life, CCB Life, Everbright Yongming Life and BOCOM Life. Implement the matrix management of insurance innovation, form a three-way project management mechanism driven by "government guidance+agency leadership+market operation", and promote 34 insurance innovations in a list. Second, create an insurance innovation pattern of "one core and multiple points", promote the establishment of cross-border insurance innovation joint laboratory, urban risk management research institute and other insurance innovation incubation platforms with the Wuxiang New Area as the main position, and form an insurance innovation industrial park with 41 insurance institutions; Carry out the big action of "one county, one product, one industry, one innovation", and support each county (city, district) and development zone to carry out insurance innovation with unique local characteristics. Third, insurance has strongly helped improve the people's livelihood. It was the first to launch the inclusive commercial insurance "Huiyong Insurance" in the whole district. The number of insured people has reached nearly 2 million, and the coverage rate has reached 15%. It has been replicated and promoted throughout the district, and the relevant practices have been reported to the Central Reform Office. Fourth, vigorously develop cross-border insurance, and promote China Taiping ASEAN Insurance Service Center and PICC Property and Casualty Insurance to network China Taiping ASEAN Insurance Community and PICC ASEAN Reinsurance Community respectively. In recent years, the insurance innovation driven development has achieved remarkable results. The premium income of Nanning has increased from 20.2 billion yuan at the end of 2018 to 31.4 billion yuan at the end of 2023, with an average annual growth of 9.2%, accounting for 37% of the region.

Next, we will continue to adhere to the "two wheel drive" of green finance and insurance innovation double demonstration zone, do a good job in green finance, give full play to the functions of insurance economic stabilizer and social shock absorber, and help the high-quality development of the city's financial industry!

Hong Kong Business Daily: What are the measures and achievements of the Guangxi Zhuang Autonomous Region Branch of the State Administration of Foreign Exchange in cross-border investment and financing around the construction of the China ASEAN Industrial Cooperation Zone and the stability, extension and strength of the service industry chain?

Wu Qiang:

Since 2023, the Guangxi Zhuang Autonomous Region Branch of the State Administration of Foreign Exchange has stepped up its efforts to serve the real economy in the field of foreign exchange, taken diversified measures to close to market entities and unblock card points, and focused on improving the resilience of the industrial chain.

First, improve the service mechanism and strengthen the policy to benefit enterprises. On the one hand, build a service team, set up a foreign-related financial advisory service team in financial institutions throughout the region, and provide enterprises with full process financial advisory services such as policy consultation, business guidance, capital settlement, risk management, etc. On the other hand, with the goal of serving the two-way logistics financing of import and export, we will create a cross-border finance Beibu Gulf port shipping financing platform, provide big data support for the penetrating verification of the bank's trade background, and provide efficient and convenient cross-border supply chain financing services for foreign-related SMEs. By the end of December, 8 banks in the region had granted loans equivalent to nearly 60 million yuan to 23 foreign-related enterprises in the first batch, and three key businesses including bill of lading financing, warehouse receipt financing and freight financing had all been implemented.

Second, polish the service signboard and improve the facilitation level of cross-border investment and financing. Focusing on the goal of "further facilitation" of cross-border investment and financing, we will help stabilize the expansion of foreign capital inflows. First, the policy was delivered. The "Foreign Exchange Knowledge Lecture" was held live, and the joint lectures of foreign exchange, banks and enterprises were given, and experts answered questions, so as to realize the interaction between banks and enterprises, and expand the audience of facilitation policies by using new media. The second is to promote convenience, organize special actions such as "100 enterprises", "reform and empowerment, and market planning", help hundreds of foreign-funded leading enterprises to solve nearly 200 urgent problems, "one enterprise, one policy" to provide services, and play the role of leading enterprises as a ballast to strengthen the chain, stabilize the chain, and extend the chain. The third is to stabilize the chain, carry out the special action of "Huixin Stabilizing the Chain" for the main enterprises of the cross-border industrial chain, and provide solutions for the core enterprises of Guangxi's relatively mature cross-border industrial chain, such as construction machinery and new energy vehicles, in the way of "one chain and one case", so as to release the core role of the chain leader in driving the development of domestic and international dual cycle industrial chains. By the end of December, Guangxi had handled 4816 capital account facilitation businesses with an amount of US $6.944 billion, including US $2.362 billion of capital account income payment facilitation businesses in Guangxi, accounting for 50.02% of the region. The number of digital pilot businesses has expanded from 9 to 22, and nearly seven of them have become businesses in Nanning. The proportion of facilitation and digitalization has exceeded 50%, saving the "bottom cost" of enterprises and further optimizing the business environment.

The third is to innovate service features and help cross-border financial reform develop in high quality. The pilot project of high-quality cross-border investment of private equity investment funds was promoted. Nine foreign-invested equity investment enterprises settled in Nanning area of China (Guangxi) Pilot Free Trade Zone, with a registered capital of 1.116 billion US dollars, mainly invested in domestic key new energy and new chemical materials, digital economy, high-end advanced manufacturing industry, cross-border supply chain industry and other projects. On the premise of balancing the promotion of reform and prevention of risks, QFLP pilot has been extended to all regions of Guangxi in early October 2023, which will help Guangxi make greater efforts to use foreign capital and serve the economic and social development of Guangxi.

Guangxi Radio and Television: The Central Financial Working Conference held at the end of October 2023 emphasized the need to promote high-level financial opening. What achievements has Guangxi Regulatory Bureau of the State Financial Supervision and Administration made in promoting financial opening and innovation in the core area of Nanning?

Li Caili:

In recent years, the Guangxi Regulatory Bureau of the State Administration of Financial Supervision and Administration has actively played a leading role in supervision, established a mechanism, strengthened linkage, and steadily promoted the construction of the core area of Nanning, a financial opening gateway to ASEAN, with positive results. The financial innovation achievements of Nanning's core area have won the gateway construction, and the number of key cases of the pilot free trade zone continues to rank first in the region.

First, focus on strengthening supervision and guidance, and actively create a good atmosphere. Establish a special work leading group, accurately grasp the key tasks and key links of the construction of the financial open door to ASEAN, print and distribute more than ten policy documents such as the interactive mechanism of financial business innovation supervision, establish multiple working mechanisms such as information sharing, focus on the construction of new land and sea channels in the west and the needs of regional economic and trade development, and create a good atmosphere for economic and financial mutual promotion. Eight successive China ASEAN Insurance Cooperation and Development Forums were successfully held in Nanning, focusing on the opening, cooperation and innovation of the insurance industry, taking it as an important task to strengthen dialogue, enhance consensus, expand the international financial "circle of friends" and share the achievements of financial opening and cooperation, and giving full play to the "window effect" of the core area of Nanning's financial opening gateway to ASEAN. The second is to focus on promoting "introducing money into Guangxi" and enrich the regional financial element system. We have actively guided large domestic bancassurance institutions to settle in Nanning. At present, 100% of the national large bancassurance institutions have entered Yong. We will support qualified bancassurance institutions to build a characteristic and professional service institution facing ASEAN in the Nanning Group. Financial platforms such as CCB's remote intelligent banking center Nanning Branch and China Taiping ASEAN Insurance Service Center have successively landed in the China ASEAN Financial City and continue to play a role. Third, focus on optimizing financial supply and fully stimulate the vitality of the financial market. Strengthen window guidance, guide Guangxi's bancassurance institutions to steadily carry out financial product service innovation, "RCEP certificate of origin+cross-border blockchain", in accordance with the guiding principle that financial services should not only adapt to the development needs of local real economy, but also be the first to try in the cross-border financial innovation oriented to ASEAN More than 40 cross-border financial innovations were launched in Nanning and promoted throughout the region. Promote the continuous improvement of the long-term cooperation mechanism between domestic and overseas institutions, establish a long-term mechanism including agency clearing, cross-border transfer of RMB credit assets and mutual recognition of insurance agency survey with national institutions such as Vietnam and Cambodia, PICC P&C and Taiping Insurance respectively network with ASEAN head insurance institutions to establish reinsurance communities and insurance communities for Vietnam China funded projects in the Philippines and other ASEAN countries provide risk protection.

In the next step, the Guangxi Regulatory Bureau of the State Administration of Financial Supervision and Administration will conscientiously implement the spirit of the Central Financial Work Conference, base on the advantages of Nanning's core area of financial opening to ASEAN, vigorously deepen cross-border financial innovation, accelerate financial opening and cooperation to ASEAN, and actively contribute to high-quality development of regional economy and trade.

Contemporary Guangxi reporter: What has Guangxi Securities Regulatory Bureau done and achieved in promoting the construction of the core area of the financial open portal for ASEAN?

Chen Huixian:

Since the issuance of documents such as the planning and implementation plan of Nanning core area for building a financial opening gateway to ASEAN, Guangxi Securities Regulatory Bureau has actively supported the development of Nanning's financial industry, promoted the integration of various reform and development measures of the capital market into the construction of Nanning core area for building a financial opening gateway, and made certain achievements in the capital market serving the high-quality economic development of Nanning. First, direct financing channels for enterprises have been continuously expanded. We will strengthen policy business training, actively carry out policy presentations and training seminars such as CSRC assisted enterprise rescue, asset revitalization financing, bond financing, etc., and work with relevant departments to introduce several measures for financial services to stabilize the economy, so as to promote Nanning enterprises to make full use of equity, bonds, and other tools to expand direct financing and promote the increase of the proportion of direct financing. Since 2019, Nanning enterprises have directly raised 119.466 billion yuan (excluding corporate bonds) through the multi-level capital market, accounting for 36.33% of the total area. Among them, 27.912 billion yuan (excluding corporate bonds) will be raised in 2023, an increase of 151.17% over the same period in 2018. Second, good results have been achieved in the cultivation of listed enterprises. More than 10 activities were held jointly with relevant departments to promote the listing of Nanning's "specialized, special and new" enterprises, advanced seminars on the capital market of listed backup enterprises, and symposiums to promote the issuance and listing of scientific and technological enterprises, forestry enterprises, and agricultural enterprises. More than 130 enterprises in Nanning participated, effectively improving the awareness and ability of enterprises to use the capital market. In 2021, Hualan Group was successfully listed on the GEM, becoming the first IPO enterprise in Guangxi after the GEM registration system reform. Since 2023, Nanning has added two domestic and foreign listed companies. At present, there are 5 enterprises for guidance and filing, and 1 enterprise under IPO review in Nanning. Third, the two-way opening of the securities fund industry was steadily promoted. We will actively promote securities and futures exchanges to set up a Guangxi service base in Nanning, encourage high-quality securities and futures fund operating institutions to settle in Nanning, and support Nanning to build a financial cluster. Promote the two-way opening of the securities fund industry, strengthen the publicity of the "Shanghai Hong Kong Stock Connect" and "Shenzhen Hong Kong Stock Connect", urge the operating institutions in the jurisdiction to improve their technology and service level, and facilitate investors to participate in cross-border transactions. By the end of 2023, there were 55 private fund managers in Nanning; 317 managed fund products, up 190.83% from the end of 2018; The total net value of the fund was 135.182 billion yuan, an increase of 283.07% over the end of 2018. At present, six national stock and futures exchanges have set up service bases in Nanning. In the past five years, Nanning has maintained a leading position in terms of the increment and total amount of securities, futures and fund management institutions in the whole district, and has achieved remarkable results in the construction of the core area of financial open door. Fourth, the futures market has achieved positive results in serving the development of the real economy. Under the joint promotion of our bureau, the local financial supervision bureau of the autonomous region and other departments, we issued the Implementation Plan for the Construction of Guangxi Bulk Commodity Trading Market by Combining Development Period with Current Service, to support Nanning to build a regional bulk commodity trading center for ASEAN. Shanghai Futures Exchange, Zhengzhou Commodity Exchange and Dalian Commodity Exchange signed a strategic cooperation agreement with the autonomous region government to set up a service base in the China ASEAN Financial City and build a service cooperation platform. Coordinate and promote the landing of white sugar and live pig "futures+insurance" projects in Nanning to serve rural revitalization, promote the adjustment of Guangxi to the benchmark delivery place of fiberboard futures, designate two fiberboard manufacturers in Nanning as the benchmark delivery factory, license two Nanning enterprises to build an industrial and financial cultivation base, and promote the high-quality development of advantageous industries such as serving forestry in the future.

Reporter from Nanning Radio and TV Station: Let's invite Wuxiang New Area (Nanning Area of the Pilot Free Trade Zone) to introduce the achievements made in building a core area of financial open gateway for ASEAN and building a China ASEAN financial city.

Yang Qiang:

Wuxiang New Area (Nanning Area of the Pilot Free Trade Zone), in accordance with the requirements of the overall deployment, accelerated the construction of the core area of Nanning, a financial opening gateway to ASEAN, actively planned and fully promoted the construction of the China ASEAN Financial City, with remarkable results. Ten of the first batch of 13 key demonstration projects of the autonomous region's financial open portal headquarters for ASEAN have landed in the China ASEAN Financial City. By the end of 2023, there were 512 financial institutions (enterprises) settled in the China ASEAN Financial City, 24.4 times as many as by the end of 2018. The number and quality of enterprises settled in the city have improved, and the financial agglomeration effect has significantly increased. At the same time, efforts have been made to promote the construction of financial middle and back office service bases. From scratch, financial middle and back office bases have gathered 34 financial middle and back office centers and financial technology enterprises. At present, China ASEAN Financial City has settled in Guangxi Beibu Gulf Bank Head Office, Bank of Communications Guangxi Branch, Postal Savings Bank Guangxi Branch, Everbright Bank Nanning Branch, Industrial Bank Nanning Branch, Bank of China Hong Kong Southeast Asia Business Operation Center, Guofu Life Insurance Headquarters Taiping Insurance Group ASEAN Insurance Service Center and other high-quality licensed financial institutions and financial middle and back office service institutions. Relying on the geographical advantage and small language talent advantage of Nanning, Guangxi, financial institutions actively expand their business facing ASEAN, and the ASEAN elements of the China ASEAN Financial City are gradually emerging. After years of development, BOCHK Southeast Asia Business Operation Center and China Taiping Insurance Group ASEAN Insurance Service Center have become the model of Guangxi's financial middle and back office service industry facing ASEAN, providing a demonstration effect for Nanning to build a financial middle and back office service base. The China ASEAN Financial City has been successfully selected as the "Guangxi Productive Service Industry Cluster Demonstration Area in 2023", and is currently one of the only two financial service cluster demonstration areas in the autonomous region.

At the same time, we should solidly carry out financial reform exploration and promote cross-border financial innovation. Adhere to local currency priority, service entity and system innovation, promote cross-border trade, investment and financing facilitation, and enhance the internationalization of RMB towards ASEAN. In recent years, a number of pilot projects of foreign-invested equity investment enterprises, cross-border RMB financial innovation in China Malaysia Qinzhou Industrial Park, local and foreign currency bank settlement account system, digital RMB, etc. have been launched, and breakthroughs have been made in succession, The volume of relevant pilot businesses also ranked first in Guangxi, with many first order or largest amount businesses in the country and Guangxi.

According to the "System Innovation Index of China's Pilot Free Trade Zone" issued by the Comprehensive Research Institute of Free Trade Zone of Sun Yat sen University, the financial reform and innovation index of Nanning District ranks the top 4 among the 19 pilot free trade zones in the same batch for four consecutive years; China ASEAN Cross border Financial Reform and Innovation was selected into the "Top 10 Cases of Institutional Innovation in China's Pilot Free Trade Zone in 2019-2020", and 17 financial innovation cases were selected into the compilation of regional level institutional innovation achievements in China (Guangxi) Pilot Free Trade Zone.

Li Min:

Due to time constraints, the answer to reporters ended. Thank you for your introduction and friends from the press. If you have any other questions, please contact the Municipal Finance Office after the meeting.

This concludes today's press conference. Thank you!

(Author: Xian Huiying and Pang Lina)

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