Pilot programs

THE State Administration for Foreign Exchange (SAFE), the country’s forex regulator, Tuesday announced it would launch a series of high-level regional pilot programs in a bid to strengthen the country’s openness in cross-border trade and investment.

The regions involved include Lingang New Area of ​​Shanghai Pilot Free Trade Zone (FTZ), Nansha New Area of ​​Guangdong FTZ, Yangpu Economic Development Zone of Hainan Free Trade Port and Ningbo City, according to an online statement by the forex regulator. The pilot schemes will focus on broadening cross-border investment and financing channels for enterprises and opening cross-border asset transfer business steadily and prudently, the authority said.

Fintech development

THE government has released a plan for the development of financial technology from 2022 to 2025 under efforts to spur the digital economy with an improved modern financial system, according to China’s central bank Tuesday.

The plan, released by the People’s Bank of China, stressed the importance of the role of digital technology in financial services and business operations. It outlined major tasks in eight areas, including strengthening financial technology governance, boosting data capacity, building green data centers with high availability, and deepening the application of digital technology in the financial sector.

Freight train services

CHINA-EUROPE freight train services saw rapid growth in 2021 amid safe and smooth operation, according to China State Railway Group Co. on Tuesday.

The number of China-Europe freight train trips surged by 22 percent year on year to hit 15,000 in 2021, data from the company showed. During the period, the freight trains handled a total of 1.46 million 20-foot equivalent units of goods, up 29 percent from a year ago.