On June 4th, the Shenzhen Municipal Bureau of Commerce and the Shenzhen Municipal Development and Reform Commission jointly issued the “Implementation Plan for Promoting High – Quality Development of Service Trade and Digital Trade in Shenzhen” . This plan outlines several measures to enhance cross – border financial and insurance services.
Key Measures in the Implementation Plan
Support for Hong Kong Insurers: The plan emphasizes supporting qualified Hong Kong insurance companies in setting up subsidiaries in Shenzhen. This move aims to strengthen the cross – border insurance market and provide more options for consumers .
Optimizing Export Credit and Insurance Services: The plan also calls for optimizing export credit and export credit insurance services. This includes expanding business coverage and increasing support in the service trade sector to help enterprises enhance their international operation capabilities .
Cross – Border E – Commerce Support: The plan proposes accelerating the development of digital ordering trade and building a high – standard comprehensive pilot area for cross – border e – commerce. It also encourages traditional manufacturing enterprises to use e – commerce platforms to expand the M2C (Manufacturer – to – Consumer) model and develop new business formats .
Broader Context and Implications
These measures are part of Shenzhen’s broader strategy to promote high – quality development of service trade and digital trade. By supporting Hong Kong insurers and optimizing financial services, Shenzhen aims to enhance its position as a global financial hub and foster deeper integration with the Greater Bay Area . This initiative is expected to boost the region’s financial competitiveness and provide more efficient and diverse financial services for both local and international businesses.
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