On September 24, Hunan Pilot Free Trade Zone was officially launched. On the morning of that day, the Bank of China Chenzhou Branch successfully handled the cross-border remittance business for Hunan Xiangchen Aircraft Industry Co., Ltd., which was the first cross-border business provided by the bank to enterprises in Chenzhou Area of China (Hunan) Pilot Free Trade Zone.

Chenzhou City is the "South Gate" of Hunan Province. The Chenzhou Area of the Pilot Free Trade Zone focuses on the construction of Guangdong, Hong Kong and Macao Greater Bay area, highlights the direct connection between Hunan, Hong Kong and Macao, focuses on the development of non-ferrous metal processing, modern logistics, building an important platform for inland regions to undertake industrial transfer and processing trade transformation and upgrading, as well as a demonstration area for cooperation between Hunan, Guangdong, Hong Kong and Macao.

As the bank with the highest degree of internationalization and diversification in China, Bank of China will give full play to its own advantages, actively study the innovation of financial services in the free trade zone, and provide a package of financial services for enterprises in the free trade zone to "go out" through a variety of businesses such as international trade single window, trade financing, foreign exchange preservation and cross-border RMB settlement.

It was reported that Chenzhou Branch of Bank of China has continued to provide step-by-step financial services for import and export enterprises in Chenzhou City since this year, with an international settlement volume of 355 million US dollars, accounting for nearly 50 percent of the local market share.