Against the backdrop of intensifying global competition in high-end manufacturing and domestic industrial structure upgrading, the titanium industry, as a vital component of the new materials sector, is ushering in a new wave of development opportunities. From titanium ore mining and beneficiation to high-end titanium product manufacturing, and from low-level, disorderly exploitation to green and innovative advancements, Yunnan Province is accelerating the layout of its titanium industry chain, leveraging its abundant titanium resources, clean energy advantages, and geographical strengths. With the vision of a "Green Titanium Valley," it has emerged as a new force in China's titanium industrial landscape. Clustered Enterprise Development An Increasingly Refined Industry Chain At the LB Group's Yunnan base in Qingfeng Town, Lufeng City, Chuxiong Yi Autonomous Prefecture (hereinafter referred to as "Chuxiong Prefecture"), the 3,500-acre facility is meticulously arranged. In the packaging workshop of LB Lufeng Titanium Co., Ltd., chlorination-process titanium dioxide is fully automated and isolated during bagging, with rows of conveyor belts neatly stacking the packaged titanium dioxide. Daily, 380 mt of titanium dioxide is shipped from here. Over the past four years, driven by technological upgrades and innovation, the operational stability of the company's chlorination-process titanium dioxide production line has significantly improved, with both production and output value steadily increasing for four consecutive years. Production rose from 40,000 mt in 2020 to 121,000 mt in 2024, while output value grew from 1 billion yuan in 2020 to 2.44 billion yuan in 2024. Titanium is hailed as the "third metal" following iron and aluminum, rapidly rising in prominence, and is also celebrated as the space metal, ocean metal, bio-metal, and future metal. The global titanium industry has only an 80-year history, and due to the complexity of titanium metallurgy, only a few countries—such as the US, Russia, Japan, and China—have established comprehensive titanium industrial research and application systems. Yunnan Province boasts unique titanium resources with exceptionally favorable mining conditions. By 2020, 66 titanium ore deposits had been discovered in the province, with proven reserves of 55.61 million mt, ranking third nationally. These resources are primarily distributed in central, southern, and western Yunnan. Among them, the central Yunnan mining area, located at the intersection of southern Yunnan, western Yunnan, and the Panzhihua mining area in Sichuan, serves as the central hub of titanium resource distribution in south-west China. This region is densely surrounded by titanium industries, having developed and formed the Fumin titanium salt industrial base, represented by sulfate-process titanium dioxide; the Lufeng titanium industrial base, characterized by chlorination-process titanium dioxide, sponge titanium, and titanium processing; and the Wuding titanium industrial base, known for its production of high-titanium slag and other titanium-rich materials. In 2021, the green titanium industrial cluster jointly developed by Lufeng City and Wuding County received provincial recognition and support as a cultivation-type advanced manufacturing cluster. Recently, it was also included in the development scope of the central Yunnan rare and precious metals new materials industrial cluster, earning national-level recognition as an advanced manufacturing cluster. Benefiting from its superior transportation, geographical location, and solid industrial foundation, the titanium industry in Chuxiong Prefecture has flourished. Currently, Chuxiong Prefecture has gathered over 30 titanium industry enterprises, forming a complete industry chain from titanium ore mining and beneficiation to the production of high-titanium slag, chloride-process titanium dioxide, titanium sponge, and titanium materials. It has become the only region in China and even globally with a complete titanium industry chain. In Lufeng City, the titanium industry has clustered, forming a collective development trend. In May 2019, Yunnan Metallurgical Xinli Titanium Industry Co., Ltd., which was on the verge of bankruptcy, was acquired by Lomon Billions Group. After restructuring, it received support from LB Group Co., Ltd. in various aspects such as talent cultivation, technological transformation, and technological innovation. "In 2023, the company's 200,000 mt chloride-process titanium dioxide project was completed and put into operation, and it has now become a leading enterprise in the titanium dioxide industry in Yunnan Province," Liu Hongxing, Chairman of LB Lufeng Titanium Industry Co., Ltd., told the author. Yunnan Guotai Metal Co., Ltd., also a subsidiary of LB Group, is mainly engaged in the production, R&D, and sales of titanium sponge. It has initially established a full-process industry chain of "titanium ore - titanium concentrate - high-titanium slag - titanium tetrachloride - electrolytic magnesium - titanium sponge," with an existing annual production capacity of 80,000 mt of high-titanium slag and 50,000 mt of titanium sponge, ranking first in the world in terms of titanium sponge production capacity. In 2024, the company's 30,000 mt/year rotor-grade titanium sponge production project reached full production, with an annual production capacity of 50,000 mt. Yunnan Titanium Industry Co., Ltd., located in Tuguan Town, Lufeng City, mainly produces titanium and titanium alloy casting ingots, titanium coils, titanium rod wires, and titanium wide and thick plates. In 2024, the company's production and sales volumes were both around 3,000 mt. Liu Kun, Deputy General Manager of the company, stated that with the continuous and rapid development of the titanium industry chain's process technology, the production and sales volumes of titanium products produced by the enterprise have steadily increased, and their application fields are rapidly expanding. The excellent metallic properties of titanium provide indispensable support for key fields such as aerospace, marine vessels, metallurgical and chemical engineering, medical devices, sports and leisure, and civilian products. The company focuses on the R&D of new titanium and titanium alloy products and the extended processing of titanium materials, actively applying its unique advantages to more fields. As of 2023, there were over 150 enterprises in Yunnan Province's titanium industry, with nearly 50 key producers. The total industrial output value of the titanium industry amounted to 11 billion yuan, of which 8.86 billion yuan was in Chuxiong Prefecture and 2.14 billion yuan was in Kunming. Enhancement of Innovation Capabilities Continuous Growth in Development Potential The preciousness of titanium mainly lies in its complex smelting process and high processing costs. Yunnan Province's titanium industry started relatively early, but due to limitations in talent, technology, capital, and institutional mechanisms, its development was relatively slow, and it remained in a state of low-level and disorderly development for a long time before the "13th Five-Year Plan" period. Seizing the opportunity presented by the green energy advantages under the "dual carbon" goals and the emergence of new growth points in titanium material applications, the Yunnan Provincial Party Committee and Provincial Government have attached great importance to the cultivation of the new materials industry, taking multiple measures to promote the transformation and upgrading of the titanium industry. A group of leading enterprises are driving the rebirth of the "Titanium Valley" in central Yunnan, aiming to expand, strengthen, and optimize the titanium industry. Under the leadership of LB Group, LB Lufeng Titanium Industry Co., Ltd. has carried out a series of technological transformations and innovations: innovating the feeding system to address issues of feeding stability and precise measurement; optimizing the refined control of the cyclone system to solve the long-standing problem of cyclone blockages that affected the continuous and stable operation of the system within the industry; and improving the process control parameters of the oxidation reaction to stabilize the quality of titanium dioxide base materials. Alongside the technological transformations for production resumption, the company has delved deep into the coupled mode of two chlorination processes, addressing not only the environmental protection issues related to wastewater treatment in titanium dioxide production but also significantly reducing the alkali consumption for treating the off-gas from the chlorination of titanium sponge in molten salt, saving over 10 million yuan annually and achieving a "1+1>2" complementary advantage between the two processes. At the LB Yunnan base, a centralized digital control system has integrated the scattered control systems from various workshops into a control building, enabling "interlocked" remote control and setting reasonable parameter values and operating procedures, allowing employees to easily control production. According to a relevant official from the Yunnan Provincial Department of Industry and Information Technology, as of 2023, there are over 20 innovative enterprises in the central Yunnan titanium industry, including 7 technology-based small and medium-sized enterprises, 5 high-tech enterprises, 2 provincial-level and above specialized and sophisticated "little giant" enterprises, and 1 national-level technological innovation demonstration enterprise. The number of effective invention patents per 100 million yuan of main business income for industrial enterprises above designated size has reached 1.27, 65% higher than the national average. Industry insiders have stated that Yunnan's titanium industry fully leverages its advantageous conditions, including resource advantages, complete industry chain advantages, industry-university-research collaboration advantages, and geographical advantages. Through rational layout and emphasis on key areas, it has formed a titanium industry cluster with upstream-downstream integration and industry-university-research collaboration, accelerating the R&D, production, and application promotion of titanium materials in fields such as aerospace, marine vessels, metallurgical and chemical engineering, military equipment, and civilian products, aiming to achieve rapid and comprehensive development of Yunnan's titanium industry. To address the shortage of high-end technical talents, in 2024, the Lufeng Municipal Government, in collaboration with Kunming University of Science and Technology, will jointly establish a Modern Industry College for Green Titanium and a Titanium Industry Research Institute, providing strong technical support for talent cultivation, industry-education integration, integration of science and education, industry-university-research collaborative innovation, and industrial technology breakthroughs in the regional titanium industry. According to relevant personnel from the Chuxiong Prefecture Bureau of Industry and Information Technology, in 2025, Chuxiong Prefecture will promote the "green electricity + advanced manufacturing" model across the entire industrial chain, fostering advantageous industrial clusters such as green titanium. Focusing on the entire chain of "resources - smelting - intensive and deep processing," it will accelerate the construction of seven projects aimed at complementing, extending, and strengthening the titanium industry chain, including the boiling chlorination raw material project, the Zhongzhou Carbon Materials project, and the Dongkai Vanadium-Scandium Resources Comprehensive Utilisation project. Additionally, centering on the intensive and deep processing of 80,000 mt of titanium sponge by LB Group and Guotai Metal Company, it will expedite the cooperation between Yunnan Titanium Industry Co., Ltd. and Yunnan Precious Metals Group to develop high-end titanium alloys and composite materials, thereby expanding enterprise products into fields such as aerospace, military industry, medical treatment, electricity, chemicals, and water treatment.

The People's Bank of China, the National Financial Regulatory Administration, the State Administration of Foreign Exchange, and the Shanghai Municipal People's Government jointly issued the "Action Plan for Further Enhancing Cross-border Financial Service Facilitation in Shanghai International Financial Center." It pointed out that the functions and global network coverage of the Cross-border Interbank Payment System (CIPS) will be enhanced. Cross-border clearing companies will strengthen coordination and linkage with financial institutions to jointly improve the service level for "going global" enterprises. More banks will be encouraged to join CIPS, continuously expanding the network coverage of CIPS. The construction of CIPS will be strengthened, system functions will be improved, and the application of blockchain technology will be researched and promoted to provide safe and efficient settlement and clearing services for global trade, shipping, and investment and financing denominated in RMB. Notice of the People's Bank of China, the National Financial Regulatory Administration, the State Administration of Foreign Exchange, and the Shanghai Municipal People's Government on Issuing the "Action Plan for Further Enhancing Cross-border Financial Service Facilitation in Shanghai International Financial Center" To implement the spirit of General Secretary Xi Jinping's inspection in Shanghai and the Central Financial Work Conference, better leverage the special role of the Shanghai International Financial Center in serving the construction of a new development pattern, and support various entities in participating in international competition and cooperation more safely, conveniently, and efficiently, this plan is formulated. I. General Requirements Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, through deepening financial institutional opening, strengthening financial support for "going global" enterprises and the "Belt and Road" construction, a financial system more suitable for an export-oriented economy will be formed, enhancing the competitiveness and influence of the Shanghai International Financial Center. II. Main Content (1) Improve cross-border settlement efficiency and facilitate global fund management for enterprises. 1. Optimize the management model and business processes of foreign exchange operations. Support banks in implementing foreign exchange business management measures, optimizing foreign exchange business processes, and system reengineering, classifying enterprises' foreign exchange compliance risk levels, and providing differentiated and facilitated financial services. Support pilot banks such as Bank of China, China CITIC Bank, China Minsheng Bank, and Citibank (China) Co., Ltd. to conduct business in Shanghai branches according to new regulations, and support more banks in Shanghai to participate. Establish a mechanism for pilot banks to appeal and evaluate due diligence in foreign exchange business, support banks in appealing suspected violations, rely on the self-discipline mechanism of the foreign exchange market to conduct evaluations, reasonably determine the "due diligence" situation of banks, and improve the quality and efficiency of cross-border financial services. 2. Improve the global fund management system of enterprise groups. Optimize the integrated RMB and foreign currency fund pool management policy, facilitate the main enterprise to conduct centralized fund collection and payment business on behalf of overseas member units. Optimize and improve the cross-border fund transfer of the full-function fund pool in the Shanghai Free Trade Zone. Encourage banks to gradually achieve automated processing of cross-border fund payments, extend service hours for key enterprise groups' cross-border fund pools and other businesses, and achieve real-time global fund transfers. Support Pudong New Area in taking the lead in formulating fiscal, talent, and other supportive policies conducive to the agglomeration of enterprise group financial centers, enhance the level of headquarters economy such as enterprise group financial centers, and encourage other districts to replicate, promote, and improve supporting policies. Encourage enterprise groups to establish fund pools in Shanghai to achieve convenient and efficient onshore centralized management and use of global funds. Support banks to provide fund pool services that match the business scale and needs of enterprises. 3. Expand the functions and application scenarios of free trade accounts. Support banks to use the information obtained from fulfilling the "three anti" obligations for the authenticity review of cross-border business, achieve no-delay collection and payment between free trade accounts and overseas (across the first line), and handle RMB fund settlement with domestic ordinary accounts (across the second line) for recognized high-quality enterprises according to the business principles. Support banks to develop deposit products based on overseas institutions' free trade accounts, allowing non-resident foreign currency deposit interest rates to be market-priced with reference to international practices. Support banks that meet the requirements for providing foreign exchange settlement and sales and fund collection and payment services for cross-border e-commerce based on transaction electronic information, to provide internationally aligned settlement services for cross-border e-commerce through innovative free trade account services. Optimize the dynamic update mechanism of the free trade account list. 4. Promote financial institutions to improve digital service levels. Encourage banks to carry out cross-border digital identity authentication and electronic identification for individuals and enterprises, and steadily expand the coverage of digital services in cross-border collection and payment business. Support financial institutions to use blockchain technology and other means to optimize the authenticity review of customer electronic documents and information, enhance the "precise profiling" ability, and improve the quality of cross-border financial services for "going global" enterprises. Support pilot banks of digital RMB in Shanghai to actively participate in the multilateral central bank digital currency bridge project and explore innovative characteristic scenarios. Support the Foreign Exchange Trading Center to provide foreign exchange liquidity management and exchange services for the multilateral central bank digital currency bridge. 5. Enhance the functions and global network coverage of the Cross-border Interbank Payment System (CIPS). Cross-border clearing companies will strengthen coordination and linkage with financial institutions to jointly improve the service level for "going global" enterprises. More banks will be encouraged to join CIPS, continuously expanding the network coverage of CIPS. The construction of CIPS will be strengthened, system functions will be improved, and the application of blockchain technology will be researched and promoted to provide safe and efficient settlement and clearing services for global trade, shipping, and investment and financing denominated in RMB. (2) Optimize exchange rate hedging services and improve foreign exchange risk management and response capabilities. 6. Develop diversified exchange rate hedging products and services. Support the Foreign Exchange Trading Center to provide trading facility services for RMB foreign exchange trading in the Free Trade Zone, and improve the foreign exchange trading services for currencies of countries jointly building the "Belt and Road." Attract more enterprises to participate in the "Bank-Enterprise Foreign Exchange Trading Service Platform" of the Foreign Exchange Trading Center, encourage more banks to access the platform for direct quotation, and facilitate various enterprises to conduct foreign exchange business. Encourage banks to actively expand exchange rate hedging "first-time" enterprises, promote enterprises to enhance exchange rate hedging awareness, and reduce the cost of exchange rate hedging for enterprises. Support banks to increase the development of exchange rate hedging products, enrich RMB foreign exchange ordinary American options, European options, Asian options, and their combination products, and continuously increase the types of RMB foreign exchange derivatives in the domestic market. Support the transformation and upgrading of bank outlets, encourage qualified banks to establish special outlets for foreign-related business according to regional and functional positioning, form professional foreign exchange service teams, and provide a full range of foreign-related products, services, and exchange currencies. Strengthen the linkage between financing guarantee institutions and bank business, the Shanghai Financing Guarantee Center and other municipal government financing guarantee institutions and banks jointly develop special guarantee products for exchange rate hedging, with fiscal subsidies for guarantee fees, to reduce the cost of foreign exchange risk management for enterprises. 7. Promote the cross-border use of RMB. Improve the convenience and efficiency of cross-border RMB use, encourage banks to optimize document review and strengthen data sharing under the premise of authenticity and compliance, and enhance the experience of "going global" enterprises in using RMB for investment and financing, project construction and procurement, and income recovery. Encourage banks to build a risk assessment-oriented entity classification management model and adopt various in-process and post-event verification methods. Strengthen the promotion of the "RMB priority" concept and cross-border RMB policy, establish an evaluation mechanism for the cross-border use of RMB by key state-owned enterprises in Shanghai, encourage "going global" central enterprises and state-owned enterprises to prioritize the use of RMB for foreign payment and settlement, and drive the use of RMB by various enterprises in the industrial chain, supply chain, and innovation chain. Research and design professional service plans to promote the increase of the proportion of cross-border RMB settlement in areas such as "Silk Road e-commerce," high-end shipping, large-scale complete equipment export, and overseas employee services. Promote the use of RMB in countries jointly building the "Belt and Road," and rely on Shanghai to build a trade and investment service system that promotes the global circulation of RMB. (3) Strengthen financing services and support global investment and financing of enterprises. 8. Gather cross-border syndicated loan centers and business. Under the premise of legal compliance, carry out pilot projects for cross-border transfer of syndicated loan shares in institutions recognized by the National Financial Regulatory Administration, optimize the management of foreign debt registration and cross-border guarantee processes, and better meet the syndicated loan needs of domestic enterprises in the process of "going global." When conditions are mature, support willing and qualified banks to establish cross-border syndicated loan centers in Shanghai. 9. Pilot trade refinancing business through the rediscount window. Pilot in Shanghai to support RMB cross-border trade financing through the rediscount window, encourage banks in Shanghai to expand cross-border trade credit to reduce the cost of RMB trade financing for enterprises, and promote import and export trade denominated in RMB. 10. Expand two-way financing channels at home and abroad. Support qualified banks to explore and study providing non-resident M&A loan services for "going global" enterprises in the Shanghai Free Trade Zone with reference to international practices, with the loan amount not exceeding 80% of the M&A transaction price and the loan term not exceeding 10 years. Support banks to meet the financing needs of multinational companies' domestic and overseas member units through "overseas direct loans," "domestic guarantees for overseas loans," "overseas guarantees for domestic loans," and other forms under the premise of controllable risk and commercial rationality. Support enterprise group finance companies to carry out "overseas guarantees for domestic loans" business, pool funds from overseas member units and provide financing support, facilitate the overall domestic and overseas financing of enterprise group member units, and reduce financing costs. Improve the development and supervision system of "Yulan Bonds," and further enrich value-added services such as agency interest payment and redemption, and corporate behavior handling. 11. Use blockchain technology to standardize the development of supply chain finance. Leverage the role of key industrial chain leading enterprises, use blockchain, big data, and other technologies to achieve information on key links such as orders, logistics, and warehousing on the chain, carry out carbon footprint certification pilots, gradually build a green and low-carbon supply chain system, implement differentiated credit management for supply chain finance, improve the supply chain finance product system, standardize the development of financing products such as accounts receivable, order financing, and warehouse receipts and inventory pledge, and increase credit support for upstream and downstream enterprises in the industrial chain. Support banks in Shanghai to better serve "going global" enterprises in the Yangtze River Delta and other regions through supply chain finance. Support financial institutions to rely on the landing application of "Shipping and Trade Digital Chain," through the on-chain storage and cross-matching of electronic documents, to provide auxiliary verification for trade settlement, trade financing, cross-border insurance (cargo insurance, ship insurance, etc.) for entities on the chain. Support the Shanghai Clearing House to enrich the participation group and clearing products of the "Clearing Link" for bulk commodities, promote the landing of cross-border RMB clearing and settlement services, and support financial institutions to steadily expand the application scenarios of supply chain finance and extend to areas such as carbon emission rights. 12. Facilitate cross-border financing of financial leasing companies and others. Explore and support financial leasing companies to carry out parent-subsidiary foreign debt quota sharing business. Facilitate the use of foreign currency rents collected by financial leasing companies (including financial leasing companies) in China, allowing them to be used for repaying foreign currency debts, paying overseas rents, and paying for leased goods overseas and other compliant purposes. Support financial leasing companies (including financial leasing companies) and subsidiaries to carry out overseas financial leasing business and serve "going global" enterprises. Support overseas branches of financial institutions to actively provide financing support for overseas sales of automobile groups. (4) Strengthen insurance protection and improve risk management level. 13. Increase insurance support for export enterprises. Increase insurance protection for key export enterprises such as domestic commercial aircraft, new energy vehicles, and large-scale complete equipment, promote cooperation between insurance companies and reinsurance companies, establish insurance communities, and enhance the ability to protect special risks. Support insurance companies to provide insurance services for shipping and other related fields according to China's new export advantages, new trends, and industry characteristics, and continuously optimize insurance products.Support insurance companies in developing overseas clinical trial and high-end medical equipment liability insurance for biopharmaceutical enterprises, and provide support to insured enterprises. Strengthen insurance coverage for cross-border personnel in areas such as accidental injury, medical treatment, and diseases, and support insurance companies in developing cross-border personnel insurance products. Encourage airports, ports, travel agencies, and other units to facilitate the purchase of insurance products for cross-border personnel. The Shanghai Financial Regulatory Bureau will guide relevant institutions to deepen the construction of the "Belt and Road" global inspection service network, enhance network functions, and expand coverage areas. Support the Shanghai Shipping Insurance Association in formulating internationally compliant, globally influential shipping insurance underwriting, claims, and recovery operation guidelines and standardized document templates. 14. Enhance the service level of export credit insurance policies. Support insurance institutions in optimizing and improving export credit insurance products and comprehensive service plans based on enterprise operations, project countries, and financing models, and continuously optimize claims conditions under the premise of meeting risk control standards to better provide risk protection for small and micro enterprises. Rely on the China (Shanghai) International Trade "Single Window" to actively provide "fully online, collateral-free, low-cost" convenient financial services to eligible small and medium-sized enterprises. Upgrade the "credit insurance + guarantee + bank" financing model, optimize the Shanghai foreign trade high-quality development tripartite cooperation list for credit insurance financing services, and provide batch active credit to cross-border e-commerce, service trade, and customs advanced certification enterprises. Encourage banks to dynamically adjust country risk ratings and limits in a timely manner based on the "National Risk Analysis Report" issued by policy export credit insurance institutions. 15. Provide high-quality reinsurance services. Support the establishment of insurance companies, reinsurance companies, and insurance brokerage companies specializing in reinsurance business in the Lingang New Area, and steadily promote online transactions for cross-border reinsurance and domestic reinsurance businesses. Focus on key areas such as the joint construction of the "Belt and Road," aerospace, and green shipping, and study the feasibility of piloting new risk transfer product issuance and trading to enhance the global underwriting capacity for "going global" enterprises and projects. Strengthen central and local support for the Shanghai International Reinsurance Registration and Trading Center, and improve supporting policies such as supervision and local financial support. Support the electronic circulation of VAT invoices for reinsurance through the Shanghai International Reinsurance Registration and Trading Center. Implement cross-border reinsurance premium statistics and release rules, and conduct statistics and release of cross-border reinsurance premium income through the registration and trading center based on the principles of domestic addition and non-repetition. (5) Improve comprehensive financial services and enhance global allocation capabilities. 16. Enhance the function of important financial platforms in allocating global resources. High-level preparation of the international financial asset trading platform, aiming to become an important functional platform for allocating global financial resources and facilitating international investors' deep participation in China's financial market. Support the Shanghai Gold Exchange and other exchanges in conducting product authorization cooperation with overseas exchanges, and expand the application of RMB benchmark prices in international mainstream markets. Explore the internationalization of specific product deliveries at the Shanghai Gold Exchange and set up overseas delivery warehouses. 17. Improve the convenience of global asset management. Support Qualified Domestic Limited Partner (QDLP) pilot enterprises in reasonably improving the efficiency of fund use under the premise of compliance, allowing the subscription of domestic low-risk level (R2 and below) money funds, cash management wealth management products, and time deposits, and subscribing to overseas cash management products based on the characteristics of the main fund's openness. Support QDLP pilot enterprises in completing domestic fund raising and fund establishment, and then remitting funds abroad in batches according to the needs of the main fund. Support the expansion of QDLP fundraising sources and explore raising funds in both local and foreign currencies. 18. Improve the functions of various comprehensive service platforms. Enhance the "online + offline" comprehensive service capabilities, upgrade the "Belt and Road" comprehensive service center, iteratively upgrade the "Silk Road e-Travel" mini-program and financial service functions, promote the integration and docking of bank and enterprise resources, and achieve seamless integration of online traffic and offline professional services. Promote the cross-border sharing and exchange of international trade-related documents, port logistics, and other data between offshore trade service platforms such as Offshore Connect and Cross-border Connect and major trading regions. III. Safeguard Measures (1) Establish a promotion mechanism and jointly promote implementation. The Shanghai Municipal Party Committee Financial Office, the People's Bank of China Shanghai Headquarters, the Shanghai Financial Regulatory Bureau, the Shanghai Securities Regulatory Bureau, the State Administration of Foreign Exchange Shanghai Branch, the Shanghai Development and Reform Commission, the Shanghai Commerce Commission, the Shanghai Economic and Information Commission, the Shanghai State-owned Assets Supervision and Administration Commission, and financial institutions will form a task force to provide a "financial service package" for "going global" enterprises and encourage Shanghai-based financial institutions to "go global." (2) Strengthen publicity and promotion, and refine and implement services. Carry out the "Hundred Parks and Thousand Enterprises Deliver Finance" activity, and comprehensively use network releases, counter guidance, and other methods to promote policies. Relevant departments, key districts, and financial institutions will designate personnel to organize and provide services. Establish an expert database, form professional teams, set up demonstration outlets, and provide integrated services in local and foreign currencies, offshore and onshore, and corporate and individual services. (3) Strengthen the supply of legal services and create a good environment. Improve financial legislation, supervision, and dispute resolution mechanisms, and support Shanghai in exploring the offshore financial system. Focus on the integrated development of finance with data, talent, and technology. People's Bank of China Financial Regulatory Authority State Administration of Foreign Exchange Shanghai Municipal People's Government March 25, 2025