Shaanxi Expands Cross-Border Financial Innovation to Support Inland Opening-Up
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Shaanxi Province is accelerating financial reform and cross-border service innovation to support the higher-level development of its Free Trade Zone (FTZ), reinforcing its ambition to become a leading inland hub for reform and opening-up.
At a recent press briefing, Li Baoqing, head of the Balance of Payments Division at the People’s Bank of China (PBOC) Shaanxi Branch, outlined key measures undertaken in 2025 to enhance cross-border financial facilitation and foreign exchange management.
Shaanxi has actively implemented pilot policies aimed at improving cross-border trade and invest
The province has further leveraged the Qualified Foreign Limited Partner (QFLP) pilot program to attract overseas capital into strategic sectors. In 2025, Shaanxi completed its second QFLP pilot fund, which notably linked foreign capital participation with a renminbi-denominated fund structure — a first-of-its-kind model nationally.
A third QFLP pilot fund has already been approved and will focus on new energy, advanced materials, and intelligent mining equipment manufacturing. These initiatives aim to channel cross-border capital toward high-value industrial upgrading and technological innovation.
THREE
Authorities have introduced supportive measures for new forms of foreign trade, including offshore international trade, cross-border e-commerce, and overseas warehousing. Six offshore trade enterprises have received streamlined financial support policies, while several foreign trade service providers and overseas warehouse operators have been granted targeted development backing.
At the same time, Shaanxi has expanded application scenarios under the Cross-Border Financial Service Platform. A newly introduced verification tool for offshore trade transactions has enabled more efficient background checks and payment processing. In one case, the Agricultural Bank of China's Shaanxi branch facilitated an offshore payment of approximately USD 880,000 using the platform's enhanced verification functions. To date, eight pilot application scenarios have been implemented locally.
FOUR
Looking ahead, regulators in Shaanxi plan to refine a foreign exchange management framework that is more convenient, open, secure, and digitally enabled. Efforts will continue to integrate trade corridors, industrial chains, and financial services, while encouraging banks to develop region-specific financial products.
Special emphasis will be placed on supporting China-Europe (Asia) freight train operations, cross-border e-commerce ecosystems, and trade settlement facilitation. Further optimization of trade-related payment policies and risk management tools, including exchange rate hedging services, is also expected.
Through these initiatives, Shaanxi aims to strengthen its role as a dynamic inland gateway, enhancing its capacity to connect domestic industries with global markets while fostering sustainable, high-quality outward-oriented growth.
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