On Dec 15, the People's Bank of China launched a pilot bank settlement account system in Guangxi in domestic and foreign currencies. The Industrial and Commercial Bank of China, the Bank of China and China Construction Bank are the first financial institutions to participate in this pilot in Guangxi. There are 16 branches of the three banks in Nanning and Qinzhou.

The Nanning branches of the Industrial and Commercial Bank, the Bank of China and China Construction Bank located in the China (Guangxi) Pilot Free Trade Zone (FTZ), will become the pilot financial institutions, and enterprises and individuals of the Nanning area of the Guangxi FTZ in need can go to them for related business.

Bank settlement accounts in local and foreign currencies have the advantages of supporting multi-currency settlement, simplifying the account opening process and facilitating account management. Nowadays, enterprises can manage funds in different currencies through one account, which improves the efficiency of enterprise account management and settlement in both local and foreign currencies.

The Nanning area of the Guangxi FTZ. [Photo/WeChat account: gh_df8bc987e060]