[Reported by Zhang Bingjie] On December 5th, the "Implementation Measures for Upgrading the Functions of Free Trade Accounts in the Shanghai Free Trade Zone (Trial)" officially came into effect, marking a new stage in the financial opening-up of the Shanghai Free Trade Zone. China Construction Bank actively responded to the policy, successfully processing free trade account (FT account) function upgrades for several key enterprises on the first day of implementation, empowering their global operations with efficient and professional cross-border financial services.
This upgraded FT account is a further optimization of the existing system, providing a new account system for high-quality enterprises in the Shanghai Free Trade Zone, enabling free cross-border fund transfers and convenient financing, achieving "openness at the first line, control at the second line, and integration of domestic and foreign currencies." On the first day of implementation, addressing pain points such as difficulties in overseas fund transfers and slow fund arrival for enterprises, China Construction Bank Shanghai Branch tailored a solution for Shanghai China Construction Overseas Development Co., Ltd. Leveraging the upgraded FT account, the company can freely transfer funds between overseas accounts upon instruction, successfully opening up China Construction's global funding chain. This supports overseas engineering construction, project fund collection, and significantly improves capital turnover efficiency, helping central enterprises optimize fund allocation and reduce operating costs globally.
China Construction Bank stated that it will always be committed to serving the real economy and national strategies, continuously expand the coverage of FT upgraded account services, and further leverage its dual advantages of "free transfer at the first line and macro-prudential management at the second line" to help enterprises improve their global fund management capabilities, avoid exchange rate risks, and optimize their financial structures, thereby injecting strong financial momentum into the construction of Shanghai as an international financial center and the globalization of Chinese enterprises.
