In 2019, the SAFE began to issue documents to promote cross-border investment facilitation policies. In 2023, 17 departments including the Ministry of Commerce issued documents to support trade foreign exchange receipts and payments facilitation policies. From a small-scale pilot policy to vigorous promotion and support by various ministries and commissions, the key points Promotion, what have you experienced in the facilitation of foreign exchange business in the past three years?
Judging from China's foreign exchange policies in the past three years, under the current international trade background, the SAFE has begun to relax some foreign exchange control policies, and has begun to improve the business environment of enterprises, providing targeted policies for enterprises' cross-border investment and financing , Promote the flow and integration of corporate funds. In the context of deepening the reform of "decentralization, regulation and service", enterprises have gradually become accustomed to online working methods due to the impact of the epidemic. Against this background, the implementation of the foreign exchange facilitation policy has a broad market and mass base.
From the facilitation under the current account to the comprehensive promotion of the facilitation under the capital account, the facilitation policy has become the focus of the SAFE’s future work. The SAFE’s "Foreign Exchange Over the Past Decade : Continue to Promote the New Development of Trade and Foreign Exchange Facilitation Services" The Pattern” pointed out that SAFE will focus on serving entities and increase the supply of foreign exchange facilitation policies. At the same time, the foreign exchange facilitation policy has also been warmly welcomed by enterprises and banks. By carrying out the foreign exchange facilitation business, the bank has improved the efficiency of business processing and improved customer satisfaction with the bank's foreign exchange business. Corporate customers have also improved the financing efficiency of funds. In the past, a collection of foreign exchange required document preparation, stamping, and submission of materials for bank review. It often took more than a day, but now it only takes a few minutes.
Foreign exchange customer revenue and expenditure risk management system helps banks identify honest customers and compliant transactions
However, it is not easy for banks to carry out facilitation business. According to the policy requirements of the SAFE, banks need to meet the basic conditions that "the compliance and prudent operation evaluation of banks' foreign exchange business in the past three years are all B+ (inclusive) or above in principle " . Banks are required to have a complete risk management and control system to identify honest customers and compliant transactions, so as to achieve "the more honest, more independent, more compliant, and more convenient". Judging from the investigation of banks and enterprises conducted by China Electronics Financial Trust’s Trade Finance Division, after the facilitation process, some transactions need to be subject to subsequent spot checks in accordance with the requirements of foreign exchange management. For banks, there are cases where the customer cooperation is not high after the business has been completed; for enterprises, the receipt and payment of foreign exchange is indeed convenient, but frequent spot checks lead to the need to continue to submit materials to cooperate with the review after receiving and paying foreign exchange, and the business processing time is not as fast as it is. It's never been different!
Banks must meet the requirements for convenient handling, improve the level of foreign exchange business handling and strengthen risk control, identify foreign exchange business risks during handling, and avoid spot checks afterwards to reduce corporate experience. The key is to build a risk management system for foreign exchange customer receipts and payments. In this way, the identification of honest customers and risky transactions can be realized, and at the same time, policy requirements can be met, and some transactions can be randomly checked after the event and relevant data can be submitted. Relying on the accumulation of more than 20 years of foreign exchange business, combined with the practical experience of experts in the field of regulatory risk, China Electronics Financial Trust has carried out systematic iterative optimization in existing landing projects, and is the first to launch a foreign exchange customer receipt and payment risk management system to meet the foreign exchange risk management of banks. , Facilitation of business handling demands.
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Customer model + risk model to create a "assessment + monitoring" double-drive risk management system
The system identifies honest customers through the customer risk model, analyzes internal customer data and external procurement data sources, and adjusts and builds a customer risk model that conforms to the internal data on the basis of the risk model constructed through the AHP method and consistency matrix. Support the construction of customer risk scoring models from 6 dimensions including credit reputation, capital situation, and operating conditions, and more than 40 detailed items, to meet the needs of dynamic adjustments and real-time calculation of customer risk scores after docking data sources.
The system identifies compliant transactions through the transaction risk model, and constructs a transaction risk model from three dimensions of the customer itself, the transaction itself, and the counterparty, and more than 14 transaction risk factors such as transaction amount, transaction frequency, common counterparties, and counterparty countries. , risk rules are combined by different risk factors, and the execution process and triggering of risk factors are realized through the rule configurator to realize risk transaction identification, which can meet the foreign exchange risk control in addition to the need for convenience.
The foreign exchange customer revenue and expenditure risk management system launched by China Electronics Financial Trust is the first in the market to realize the whole-process systematic foreign exchange customer revenue and expenditure risk management system that realizes pre-assessment and access, risk control during the event, and post-event spot check monitoring. Bank customers land. During the implementation process, DJT can provide banks with professional consulting services, local implementation support, Xinchuang adaptation and related system training to ensure the successful implementation of the project, help banks quickly carry out foreign exchange facilitation business and strengthen the management and control of foreign exchange risks .
In the future, China Electronics Financial Trust will continue to work in the field of foreign exchange regulatory risks, and continue to launch regulatory reporting and regulatory risk products that meet policy requirements and meet customer needs.