(Yicai) Nov. 3 -- Financial services for the China International Import Expo have undergone continuous upgrades over the event’s nine editions, from starting as basic support to ensure exhibits can enter the country and payments can be settled to covering customs clearance guarantees, exchange rate risk hedging, offshore accounts, supply chain financing, cross-border Chinese yuan settlement, and end-to-end solutions for new trade formats.

The comprehensive financial service package for the ninth CIIE, running from Nov. 5 to 10 in Shanghai, is built around four service pillars: Connect Global Capital, Link Business Opportunities, Innovate for the Future, and Deliver Seamless Experiences, the city branch of Bank of China told Yicai.

This year’s expo will integrate one-stop cross-border financial tools, including cross-border settlement, credit enhancement for financing, cash management, and exchange rate risk hedging, to underpin efficient global capital connectivity. It will also deliver a closed-loop matching service spanning pre-expo exhibitor and buyer recruitment, on-site trade matchmaking, and post-show contract execution follow-up to precisely align supply with demand.

Leveraging a suite of digital, smart cross-border products and full-cycle sci-tech finance support, the latest system empowers new foreign trade models and industrial innovation. It is further backed by end-to-end service guarantees, multi-scenario convenient payments, tax refunds for overseas visitors, and other auxiliary offerings, creating a hassle-free experience for all participants.

Cross-border payments were still technically cumbersome at the inaugural CIIE in 2018, with exhibitors having to apply in advance to banks or payment service providers for foreign-currency Point of Sale terminals, facing lengthy settlement cycles, inconsistent transaction success rates, and some vendors resorting to cash transactions. A cross-border sale struck at an exhibition booth was tantamount to an ad hoc stress test for payment infrastructure.

Many improvements unfolded edition after edition. For example, a Malaysian buyer scanned a QR code presented by an Australian exhibitor and wrapped up a cross-border transaction in three seconds at last year’s CIIE. While streamlined payments may look like a minor tweak, they rest on an entire framework of financial infrastructure, foreign exchange regulatory policies, and cross-border capital flow oversight.

To facilitate smooth customs clearance for exhibits at this year’s expo, Bank of China Shanghai Branch has issued a customs duty guarantee letter worth CNY30 million (USD4.5 million) for temporarily imported exhibition goods.

The bank has issued nearly CNY1 billion (USD150.4 million) in customs tax guarantee letters for CIIE exhibits, ranging from machinery and equipment to fine artworks, creating a mature, streamlined workflow that covers optimized guarantee structures and real-time tracking of exhibit shipments. The arrangement removes the requirement for companies to deposit the full tax sum upfront, substantially easing exhibitors’ capital pressure and enabling smooth entry and on-site setup of exhibits.

Financial demands for the CIIE have grown more sophisticated. Services are needed for pre-show matchmaking, on-site customs guarantees, cross-border settlement, payments and tax refunds, and post-show contract oversight and sales conversion.

Cross-border payments and full-lifecycle financial support sit at the core of this ecosystem. Greater collaboration among financial institutions is required to turn exhibits into tradable goods, exhibitors into investors, and opportunities unlocked at the CIIE into capacity that serves high-standard opening-up.

Editor: Martin Kadiev