On July 16, Sichuan officially launched the pilot program for high-standard opening-up of cross-border trade. Reporters learned that on the same day, 15 banking institutions, including Bank of China, Industrial and Commercial Bank of China, China Construction Bank, and Agricultural Bank of China, successfully processed pilot program transactions for enterprises across 19 cities (prefectures) in the province. The transactions covered a range of business scenarios, including facilitation of goods trade receipts and payments, exemption from prior registration for special foreign exchange refunds, and foreign exchange services for the overseas employee salaries of premium enterprises.

Recently, the Sichuan Provincial Branch of the People's Bank of China and the Sichuan Provincial Branch of the State Administration of Foreign Exchange approved Sichuan's 19 financial institutions in the banking industry to qualify for the pilot program of high-standard opening-up of cross-border trade. To ensure the smooth implementation of the pilot program, the Sichuan Branch of the State Administration of Foreign Exchange, together with commercial banks, conducted extensive preparatory work. At the same time, it mobilized foreign exchange bureaus and bank outlets across the province to widely distribute informational materials, step up publicity efforts, and provide targeted briefings and business guidance to key foreign trade enterprises, thereby raising their awareness of and participation in the policy.

Enterprises that have already used the pilot program generally report that the new policy has significantly streamlined cross-border fund settlement procedures, improved capital efficiency, and reduced operating costs.