Xiamen free trade zone to offer diversified financial services

The Free Trade Financial Center is inaugurated in Xiamen Area of China (Fujian) Pilot Free Trade Zone on April 25. [Photo/xmftz.gov.cn]

The Free Trade Financial Center was inaugurated in the Xiamen Area of China (Fujian) Pilot Free Trade Zone on April 25, marking the launch of a free trade financial service platform.

The financial center will offer support to the development of the financial industry in the free trade zone.

With an area of 84,000 square meters, the center has attracted the Standard Chartered Bank, the Postal Savings Bank of China, the China Bohai Bank and other financial firms.

Customized financial support and one-stop service covering such things as financial service, policy interpretation, and public administration is available from the newly-launched free trade financial service platform.

In addition, based on the original port inspection center, administrative service center and business center, the service platform will integrate the free trade zone's related industrial resources to establish a free trade financial service alliance.

The Xiamen free trade zone has attracted more than 5,500 financial enterprises after three years' development and has made remarkable achievements in strengthening cross-Straits financial cooperation, promoting cross-border investment and financing, and facilitating foreign exchange management.

Various financial service platforms have been established in the zone, including financial leasing, gold trading, international financial asset trading, and financial asset management.

The free trade zone's financial leasing industry has seen rapid development over the past few years with leasing assets of $6 billion, becoming China's third largest financial leasing center.