SFTZ launches info system for X-border financial integration
An integrated information system, which will oversee the cross-border financial activities and guarantee the post-stage management Shanghai free-trade zone has been launched, reported China Daily after a media briefing on October 23. All banks in Shanghai are reportedly plugged into the system, and through the free-trade accounts, companies can settle trades and investments in local and foreign currencies, and also access trading platforms for transactions such as gold and certificates of deposit, according to Zhang Xin, Shanghai branch’s deputy director of the People’s Bank of China.