Why does the establishment of a free trade zone lead to cross-border arbitrage that is difficult to supervise? When the 20 13 Free Trade Zone was established, the head of a branch of a joint-stock bank said at the media meeting: "We have investigated many enterprises, and our biggest concern is whether enterprises can obtain low-cost financing from abroad.

Shanghai Headquarters of China People's Bank (Shanghai) Pilot Free Trade Zone issued a notice to banks on February 20th to support the expansion of cross-border use of RMB. With regard to cross-border RMB financing, the highly anticipated policy details have finally come out. Shanghai Free Trade Zone Joint Development Co., Ltd. is one of the "lucky ones" who took the lead in obtaining overseas loans this round. The company is the sole developer of Yangshan Free Trade Zone, and undertakes the development, construction, investment promotion and investment tasks of Yangshan Free Trade Zone. Bank of China officials said that Bank of China Singapore Branch and Macau Branch had lent it a total of 654.38 billion RMB, and the interest rate was between the benchmark lending rates in offshore and onshore RMB markets.

Weng Wei, general manager of the company, said that the loan will be used for two major projects: Yangshan imported food exhibition platform and Yangshan commodity trading platform under construction. Weng Wei said: "This financing method has achieved relatively low-cost financial support and low-cost business start-up. "I believe there will be a demonstration effect, and the manufacturing and emerging industries in the free trade zone can get financial support at low cost."

However, the scale of foreign trade is large but not strong, and a prominent feature is that the development of service trade lags behind. China's service trade accounts for about 15% of the total foreign trade, while the global average is 20%. At present, the world economy has entered a new stage of globalization with service trade as the core. Vigorously developing service trade is an important way for China to deeply integrate into the process of economic globalization and participate in global competition. Therefore, expanding the opening of the service industry is one of the main contents of the construction of the Pilot Free Trade Zone at present and in the future. The Pilot Free Trade Zone should change from focusing on goods trade to vigorously developing service trade.