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Cross-border loan pilots Taiwanese share financing facilities
"Cross-border Lending" is a trial of Kunshan and Taiwan's cross-border RMB loan business (hereinafter referred to as "cross-border loan"). It was approved by the People's Bank of China in July this year, allowing Taiwan-funded enterprises in the Kunshan Experimental Zone to operate from Taiwan. The banking institutions of the Renminbi business borrowed RMB funds.
“Currently, Kunshan, Jiangsu Province has become one of the most active areas for investment by Taiwanese companies in Taiwan, the most concentrated areas for Taiwan-funded enterprises and cross-strait economic and cultural exchanges. As of the end of September this year, Kunshan has approved 4,574 Taiwan-funded enterprises with a total investment of 559.5. Billion U.S. dollars; Kunshan attracts Taiwanese investment to about 1/4 of Jiangsu Province and 1/9 of the country respectively.” said Chen Jun, president of the branch of the People’s Bank of China Kunshan City, and said that at present, Taiwanese enterprises in the Kunshan Experimental Area have strong capital requirements, but It does not belong to the group's small and medium-sized Taiwanese companies, "rootless" Taiwanese companies, and listed counter companies. It also cannot fully utilize the Group's two-way loan policy to obtain cross-border, low-cost renminbi funds. Therefore, it is particularly necessary to develop "cross-border loans."
In Chen Jun’s opinion, the development of “cross-border loan” business pilots can, on the one hand, further demonstrate the leading role of the financial innovation business in the Kunshan pilot area, meet the needs of the Taiwanese-funded enterprises in production and operation of financing in the district, and promote the full availability of Taiwanese companies in the region. Utilizing “two markets and two resources” to speed up industrial development and economic transformation; on the other hand, it is also conducive to promoting the cross-border movement of RMB funds between Kuntai and Taiwan, and injecting new vitality into the deepening of Kuntai’s economic and trade exchanges. Since the launch of the pilot business, a total of 30 Taiwan-funded enterprises have signed cooperation agreements with the banks in the region with an intention of 370 million yuan. Up to now, the "cross-border loan" business pilot has accumulatively registered 80 million yuan for contract registration and 61.94 million yuan for withdrawals.
“In the past, Taiwan companies couldBank loanIt can also borrow foreign debts to borrow funds from related overseas banks; ‘cross-border loans’ broaden the financing channels for Taiwan-funded enterprises in Kunshan, and the financing costs have been reduced, especially for many small and medium-sized Taiwanese companies. "Chen Shiqin, the financial manager of Taiwan Enterprise Association Easy Technology Precision Machinery Co., Ltd. said.
Through the "cross-border loan" business pilot, many companies have obtained tangible benefits. Dingying Electronics (Kunshan) Co., Ltd. is a Taiwan-funded enterprise established by the wholly-owned investment of Taiwan-listed company, Yingying Electronics Co., Ltd. The company is the first company to conduct cross-border loan business trials in the Kunshan pilot area. The first loan borrowed from Taiwan’s Yushan Bank was RMB 6 million, and the interest rate was reduced by an average of about 1% compared to domestic banks.
“Finance-based companies’ financing channels in the mainland region are based on operating results and Chinese-funded or foreign-funded banks on the Chinese mainland to obtain RMB or foreign currency financing. Second, they rely on the difference in total foreign debt investment and registered capital to obtain foreign-currency financing.” For example, Zhang Qin, deputy manager of the financial department of Ying Electronics (Kunshan), assumes that the company invested a total of 220 million U.S. dollars in Kunshan with a registered capital of 80 million U.S. dollars and an intermediate difference of 140 million U.S. dollars. Overseas parent companies can obtain financing from abroad and remit in .
Zhang Qin introduced that its parent company is a listed company in Taiwan. If it is through a group loan, it will be subject to the approval of the board of directors and the general meeting of shareholders if it passes the group’s borrowings and is in accordance with Taiwan’s relevant laws and regulations for the management of listed companies and belongs to the “funded loan” of the related company. The procedures are relatively cumbersome. Through the "cross-border loan" pilot, the company can directly loan to Taiwanese-funded banks. It used to be about one week or even longer from signing a contract to a loan. Now it can be solved in one day.
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