Ge Haijiao, chairman of Bank of China, attended and addressed the "Buy Global in Zhejiang, Drive Consumption with Hangzhou" event, a key activity under the "Big Market for All: Export to China" initiative, in Hangzhou on March 15.

In his remarks, Ge said that the "Big Market for All: Export to China" series is a significant step in China's efforts to enhance opening-up. As a leading financial institution supporting high-standard opening-up, BOC handles nearly a quarter of the country's cross-border trade and serves over 320,000 foreign-invested enterprises in China. BOC also holds the top global position in the number of RMB clearing banks and the volume of cross-border RMB clearing and settlement.

Ge said BOC will use this event as an opportunity to boost support for the "Export to China" initiative and promote a balanced development of imports and exports. BOC will capitalize on its extensive global network to provide globally integrated financial services, offering comprehensive services that include settlement, foreign exchange, insurance, and financing for enterprises worldwide. Through its advantages in clearing network, BOC will enhance trade facilitation by providing safe, efficient, and high-quality cross-border RMB services, helping enterprises reduce transaction costs and manage exchange rate risks. By utilizing its channels and platforms, BOC will support the precise matching of supply and demand at home and abroad, strengthen integrated online and offline cross-border matchmaking, and assist in turning exhibits into commodities. BOC is ready to collaborate with global enterprises to further China’s high-standard opening-up and promoting balanced trade development, Ge added.

At the event, BOC unveiled a financial service plan to support the "Export to China" initiative. The plan outlines dedicated financial service solutions focused on three areas: enhancing service quality and efficiency for import enterprises, integrating domestic and international trade, and establishing long-term mechanisms to promote imports. It introduces 10 specific measures, committing to provide at least 5 trillion yuan ($726.5 billion) annually in import settlement support.