Shenzhen: Support overseas institutions to invest in Shenzhen technology-based enterprises through Qualified Foreign Limited Partners (QFLP)

Recently, the Shenzhen Municipal Bureau of Commerce and the Municipal Development and Reform Commission jointly issued the "Implementation Plan for Promoting High Quality Development of Service Trade and Digital Trade in Shenzhen". Among them, it is proposed to provide financial support for the development of service trade and digital trade. Expand the application scope of RMB local currency settlement, improve the convenience and efficiency of RMB cross-border use and payment, encourage banks to optimize document review, strengthen data sharing, enrich RMB payment scenarios, and enhance the experience of enterprises using RMB for investment and financing, project construction and procurement, and income recovery throughout the entire chain under the premise of real compliance. Actively participate in the application of multilateral central bank digital currency bridge projects, encourage banks to actively expand the "first account" enterprises for exchange rate hedging, and expand the application of exchange rate hedging related swaps and linked products. Optimize export credit and export credit insurance services, expand business coverage and increase support in the field of service trade, and support enterprises to enhance their international business capabilities. Promote cross-border financial innovation based on free trade accounts (FT accounts), research and expand account functions and pilot bank scope. Promote the integration of domestic and foreign currency bank settlement account system, and timely expand the scope of participating entities. Facilitating the application and admission of Qualified Foreign Institutional Investors (QFII) and Renminbi Qualified Foreign Institutional Investors (RQFII) qualifications, improving foreign exchange management for direct investment, and supporting overseas institutions to invest in Shenzhen technology-based enterprises through Qualified Foreign Limited Partners (QFLP).