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SDIC Finance Starts Cross-border RMB Interbank Lending/borrowing Business

2022-06-20

On June 6th, 2022, the marketing department of SDIC Finance succeeded in borrowing 100 million  RMB yuanfrom the Macao Branch, Bank of China, via the China Foreign Exchange Trade System, with its interest rate 15 basic points lower than the market average and also the lowest rate of all the seven-day interbank borrowings made by SDIC Finance so far this year. Success of this deal indicates the smooth opening of SDIC Finance's cross-border interbank lending/borrowing channels.

SDIC Finance has become one of the first finance companies in Beijing to conduct cross-border RMB interbank lending/borrowing business. Cross-border RMB interbank lending/borrowing and RMB international clearing service are the financing businesses within the current policy framework and capital receipt and payment are completed through the cross-border interbank payment system (CIPS). In the process of conducting such business, the risk management department provided strong support of compliance and the clearing business department provided effective guarantee for capital clearing. In recent years, SDIC Finance has been making great efforts in deepening its business and actively exploring business innovation. Cross-border RMB interbank lending/borrowing business is helpful in broadening financial channels, integrating domestic and overseas resources, cutting down financing costs, improving initiative debt and liquidity management levels and further guaranteeing the security of corporate liquidity.

 

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