On April 29, the Guangdong Pilot Free Trade Zone Nansha Branch of the Agricultural Bank of China was officially established as the first branch-level bank in Nansha Free Trade Zone (FTZ). According to the cooperation intention on the cross-border e-commerce payment business reached between the Agricultural Bank of China and Guangdong R&J Trading Co. Ltd. – a pilot company of cross-border e-commerce of Nanshan FTZ, both parties will be dedicated to developing the cross-border e-commerce payment platform to meet the requirement of real-time cancel after verification of “information flow, payment flow and logistics” of the merchants and the relevant regulator, and realize the sales and distribution purposes of e-commerce of “outside of the customs and within the territory”. It is said that the bank has also reached the cooperation intention with the first Audi 4S shop in the FTZ on the innovation services of parallel import of automobile. It will work with the Customs and automobile distributors to promote the “easy Customs clearance” financial services for the automobile import of the FTZ.

 

Source: Guangzhou Daily, April 30, 2015