CINA : finanziamenti ed incentivi per il business nelle Free Trade Zones

MAURIZIO ACCINNI

REFERENTE SVILUPPO INTERNAZIONALE

BNL GRUPPO BNP PARIBAS

2

UNA BANCA SOLIDA SU CUI CONTARE

La solidità patrimoniale ci permette di essere al vertice tra i nostri competitor in termini di rating (Standard & Poor's

A+): una garanzia per la continuità della relazione finanziaria.

Una favorevole situazione di liquidità consente di sostenere in modo costante l’economia del paese e lo sviluppo

strategico dei nostri clienti.

UNA BANCA DINAMICA

Una strategia commerciale basata sulla diversificazione dell'offerta: una tra le più complete sul mercato, per

l’operatività corrente e straordinaria. Una capacità di seguire l’evolvere delle esigenze aziendali innovando prodotti

e servizi. Oggi e domani, partner, insieme.

BNL GRUPPO BNP PARIBAS. LA FORZA DI UN’IMPRESA INTERNAZIONALE

Tra i dieci gruppi bancari più grandi al mondo; i nostri clienti italiani possono accedere facilmente ad un network

internazionale presente in più di 80 nazioni, in tutti i continenti. In India da 150 anni, 3.000 dipendenti in Cina.

Leader nel Bacino del Mediterraneo e nel Golfo Persico. 90 Trade Center in 55 paesi, di cui 5 in Italia, con esperti

dedicati al commercio internazionale

BNL. UNA REALTÀ ITALIANA

Distribuzione capillare in tutta l’Italia. Oltre 2,5 milioni di clienti privati, oltre 27.000 imprese e 16.000 enti

Legame solido con il tessuto produttivo italiano e con la Pubblica Amministrazione centrale e locale.

BNL :solidi, dinamici, internazionali, italiani

3

UNA “CORSIA PREFERENZIALE” PER ACCEDERE AI NUOVI MERCATI

• 75 paesi e 188.000 collaboratori

• Più di 1700 gestori di relazione dedicati alle imprese

• Una combinazione «unica» di competenze e soluzioni

per soddisfare le specifiche esigenze del cliente

• Conoscenza qualificata nelle relazioni con il mercato

locale

….. Asia, Africa, Medio Oriente

LA RETE BNP PARIBAS

Austria

Belgio

Bulgaria

Danimarca

Francia

Germania

Ungheria

Irlanda

Italia

Lussemburgo

Norvegia

Olanda

Polonia

Portogallo

Romania

Russia

Regno Unito

Repubblica ceca

Spagna

Svezia

Svizzera

Turchia

Algeria

Tunisia

Marocco

Senegal

Guinea

Burkina Fasi

Mali

Costa d’Avorio

Gabon

Sud Africa

Turchia

Arabia Saudita

Kuwait

Bahrain

Qatar

Emirati Arabi

Canada

USA

Messico*

Colombia*

Venezuela

Brasile

Perù

Cile

Argentina

* Ufficio di rappresentanza

Una forte presenza in Europa …….

…..e sul continente americano

Investire su nuovi mercati: BNL e la rete BNP Paribas

Cina

Hong Kong

India

Giappone

Corea del Sud

Taiwan

Vietnam

Filippine

Thailandia

Malesia

Singapore

Indonesia

Australia

Nuova Zelanda

4

In Italia 4 Trade Center 20 specialisti

Nel mondo 55 paesi, 90 Trade Center, oltre 250 specialisti

Attraverso i Trade Center le aziende possono usfruire di:

Un approccio su misura per i prodotti tradizionali (crediti

documentari, garanzie bancarie internazionali, lettere di

credito stand by, incassi documentari..)

Consulenza sulla gestione dei rischi correlati alle

transazioni commerciali internazionali

Smobilizzo pro-soluto e pro-solvendo di crediti commerciali,

forfaiting, factoring internazionale, rifinanziamento degli

operatori esteri

Operazioni di Export Credit (credito acquirente e fornitore)

Trade Development – consulenza per analisi di mercato,

informazioni commerciali, implementazione di strutture locali

Approccio Globale di un network integrato

Riduzione dei costi

Gestione ottimale dei rischi paese e controparte

Accesso ad informazioni sui paesi esteri d’interesse,

grazie al presidio e alla conoscenza del mercato locale

I VANTAGGI OFFERTI

: una rete globale di strutture dedicate esclusivamente al commercio internazionale, presenti all’interno delle

banche del Gruppo BNP Paribas.

Rendere più sicure le transazioni

commerciali e assicurarsi i mezzi

finanziari per operare sui mercati

internazionali

Esportare per crescere: Trade Centers

5

BNL e BNP Paribas China:

un ponte tra Italia e Cina

6

Stepped into all key economic regions across China

BNP Paribas has been in China for over 150 years. BNP Paribas (China) Ltd was setup in year 2003 and in year 2008 converted the branches of BNP Paribas in Beijing, Tianjin and Guangzhou into branches of BNP Paribas (China) Limited, with registered capital of RMB4.86 billion and an independent S&P rating of A.

BNP Paribas also holds a 16.2% stake in Bank of Nanjing (BoN), a local commercial bank, which provides access to a network of over 100 branches mainly in the Yangtze River Delta area.

Our product offering is one of the most comprehensive in China, covering day-to-day to specific needs of both multinational and local corporates. BNP Paribas (China) Ltd is consistently recognized in the market for its innovative solutions and capability in cash management, foreign exchange, export finance, project advisory and trade finance.

Corporate & Institutional Banking BNP Paribas China Ltd.

4 branches: Shanghai (HQ)

Beijing

Tianjin

Guangzhou

1 sub-branch in Shanghai FTZ

BNP Paribas Chengdu Rep Office

BNP Paribas Commodity Trading (Shanghai) Co Ltd.

Investment Solutions 49% in HFT Investment Management

BNPP Asset Management Asia Rep. Office

BNPP Investment Advisory (Shanghai) Co. Ltd

10% in China Belgium Development Equity Investment

Fund

33% in Haitong Fortis Private Equity Fund Mgt

Cardif

Securities Services team in Beijing

BNP Paribas (China) Limited

assigned independent rating

long term: “A”

short term: “A1”

Local Footprint

Retail Banking 16.2% Stake in Bank of Nanjing(BoN)

Arval China

Arval and Shanghai Ba-shi Car Rental

Service Co Ltd

6.5% in Jiangsu Financing Leasing

Genius (Geely Auto Financing)

Suning Consumer Finance

BNL BNP Paribas Group in China

7

The China Shanghai Pilot Free Trade Zone (Shanghai FTZ) was inaugurated on Sept 29th, 2013. Corporates are now able to open accounts within the SFTZ, which will be regarded as an offshore account and they are allowed to participate in cash-pooling structures offshore.

3 BNPP entities are established in the SFTZ:

BNPP Commodities Trading (Shanghai) Co. Ltd. to cover all trading activities permitted by the Chinese Ministry of Commerce, with a focus on base metals.

BNPP China Ltd, SFTZ sub branch serving both PRC and foreign clients and offering cross-border financing, guarantees, transaction banking, fixed income, commodity trade, hedging for commodity derivatives.

BNPP Investment Partners advisory to distribute products to onshore clients.

On Dec 28th 2014, China National People’s Congress Standing Committee approved the establishment of three new Free Trade Zone and the expansion of Shanghai Free Trade Zone in Fujian, Tianjin and Guangdong.

Free Trade

Account

For Payment to PRC account held by the same entity For Payment to PRC account held by different entities Offshore FI hedging/settlement product & price FTAs are for the moment only denominated in RMB.

Special

Account

Management

RMB

Cross-Border

Cash Pool

A member company of the corporate group registered in SFTZ should open a special RMB account as the cash pool header RMB funds can be transferred between members within a corporate group with no quota Source of the funds must come from the proceeds from business operation.

BNP Paribas SFTZ Business

Capital conversion on willingness basis Offshore financing (Syndication or bilateral facilities )

Recent Development in China – Shanghai Free Trade

Zone – SUMMARY / SEE ALSO FOCUS FROM PAG 13

8

Partnership

Global

Transaction

Banking

Investment Banking Activities

Financing Global

Markets

Media & Telecom

KEY

PRODUCT

OFFERINGS

We create a virtuous circle for our clients by integrating products and services teams to cater to

their needs in order to meet their strategic objectives as well as partnering

for their day to day business growth.

Our capabilities in China

9

Advisory & Capital

Markets

•M&A Advisory

•Project Debt Advisory

•Equity Capital Markets

•Debt Capital Markets

Structured

Financing

Solutions

•Acquisition Financing

•Project Financing

•Leverage Financing

•Other Structured

Solutions

Risk Management

•Structured Hedging

Solutions

‘One stop shop’

with complete

product suite

and strong

synergies with

Flow Banking

Flow Business

•Working Capital

Financing

•Cash and Liquidity

Management

•Trade Financing

Growth, Expansion

& Business

Re-engineering

Sectorial

Knowledge

& Expertise

Strong Global

Network

A Complete Value Chain

Our Capabilities – Investment Banking Activities

10

BNP Paribas in China: partnership with Bank of Nanjing

11

Bank of Nanjing Capabilities

From

day-to-day needs...

To

specialized offers…

AR / AP Reconciliation

LC forfaiting

Supply Chain Solutions/ AR discount/ AP

financing

Structured Deposit

FX Forward

Interest Rate Swap

Leasing

Bond issuing / underwriting

Payroll Service

Debit Card

Credit Card (Individual)

Individual Wealth Management

Settlement

Management

Liquidity

Management

Risk Management

Managing

Business Growth

Retail Banking

Business

Payments and collections

E-banking

LC issuance

Deposits

Entrust loan

FX spot/ Forward

Capital injection

Shareholder loan

RMB bank accepted draft discount

Working capital loans

Micro credit loans

Loan syndication

Factoring

Retail Banking Products

12

GRAZIE DELLA VOSTRA ATTENZIONE

Le informazioni contenute in questo documento sono elaborate da BNL o tratte da fonti ritenute attendibili ma non vi è alcuna garanzia o dichiarazione sulla loro accuratezza,

completezza o correttezza.

BNL declina qualsiasi responsabilità per danni diretti o conseguenti danni derivanti da qualsiasi utilizzo del presente elaborato o del suo contenuto. Questo documento, pubblicato

per l'assistenza dei destinatari, è strettamente confidenziale e non può essere riprodotto, pubblicato o diffuso per alcuno scopo.

m.accinni@bnlmail.com

+39 338.9305157

13

Focus: China (Shanghai) Free Trade Zone

| 00/00/0000 | Titolo della presentazione 14

Table of Contents

1. A glance at Shanghai Free Trade Zone (上海自贸区简介）

2. Insight of Shanghai FTZ favorable policies （自贸区的优

惠政策）

3. BNP Paribas (China) Co., Ltd. SH FTZ Sub-branch （我行

自贸区支行及业务）

15

A glance at Shanghai Free Trade Zone 1 上海自贸区简介

16

16

China (Shanghai) Pilot Free Trade Zone

Shanghai FTZ was inaugurated on September 29th, 2013 and covered 28.78 square km in Pudong new

area. （中国（上海）自由贸易试验区于2013年9月29日成立，位于上海浦东，起初占地28.78平方公里）

On December 28th ,2014,China National People’s Congress Standing Committee approved the extension of

Shanghai FTZ to cover a total area of 120.72 square km （2014年12月28日，国务院决定并宣布扩展上海自

贸区范围至120.72平方公里）

As the unique testing ground to trial further deregulation in areas: （作为中国独一

无二的试验区，先行先试一系列可复制可推广的改革措施。改革措施只要涵盖四个

方面）

International trade （国际贸易）

Administrative governance （行政管理）

Cross-border investment （跨境投资）

Financial sector （金融服务）

1

| 00/00/0000 | Titolo della presentazione 17

Insight of Shanghai FTZ favorable policies 2 （自贸区的优惠政策）

18

Favorable Policies

18

International Trade （国际贸易）

Flexible trade payment procedures

（更加简便的国际收支流程）

Relaxed customs policies

（宽松的海关申报手续）

Administrative Governance (行政管理）

Simplified process for company setup

（更加简便快捷的企业设立流程）

No pre-approval for FDI, ODI and overseas guarantee

（外商直接投资，海外直投及对外担保无须事先审批）

Favourable tax treatment for some sectors

（某些领域的税收优惠）

Legal system closer to international standards

（更贴近国际化的法务流程）

Cross Border Investment （跨境投资）

Six sectors are open for foreign investment: Financial services,

transportation services, trading services, professional services,

cultural services and social services

（六大领域对境外投资者开放：金融；航运；贸易；专业服务；文化及社会服务领域）

Foreign investments are allowed unless they are listed as prohibited

or restricted in the “Negative List”

（除在“负面清单”内限制或禁止的投资项目，其他皆对外开放）

Financial Sector （金融服务）

RMB Offshore Borrowing

（人民币跨境融资）

Capital Conversion on Willingness basis

（资本金意愿结汇）

X-border Cash Pool

（人民币跨境资金池）

FTU/FTA credential (offshore financing, FT loan, FTA Mgt, CNH

hedging)

（自由贸易账户项下的：离岸融资，自由贸易账户融资，自由贸易账户，离岸价格保值产品）

2

19

SFTZ Corporates in FTZ could choose one of the following mechanisms for their offshore financing

administration, and when decided, they should do filing to PBOC through the bank:

（上海自贸区企业可任选以下一种方式进行境外融资）

1, Country wide Foreign Debt control (for Foreign Invested Enterprise, it’s borrowing gap; for PRC need

case by case approval by SAFE)

（全国性适用的外债额度，主要适用于外资企业，中资企业需逐笔审批）

2, Offshore borrowing rule applies to all FTZ corporates- quota will be 1 time of the capital and limited to

RMB only

（人民币离岸融资，额度为实缴资本的一倍）

3, Offshore borrowing through FTA –quota will be 2 times of the capital (paid in capital + capital reserve)

（通过自贸账户进行离岸融资，额度为实缴资本及资本共积的两倍）

其中，2和3是上海自贸区特有的金融政策。

2 Favorable Policies

20

2 RMB Offshore Borrowing- 人民币跨境融资

21

Corporates (Branch not applicable) registered in SFTZ is allowed to borrow from offshore through free trade account (FTA) opened at qualified bank’s FTU for

FTZ company own business and project in Free Trade Zone or offshore.

（区内法人企业（分支机构不适用）可通过在具有资质的结算银行开立自贸账户，并通过该账户向境外融资，所得资金需用于自身经营，区内及境外项目建设）

Key take-away (要点）

-No pre-approval and revolving nature Vs country wide FDQ （免事前审批，可循环使用）

-Applied to SFTZ corporates defined by SAIC （适用于上海市工商管理局认定的上海自贸区企业）

-Applied to all currencies (FCY and RMB proceeds Vs. RMB offshore financing) （融资币种包括人民币及外币）

-Increased quota (2*capital) Vs. RMB offshore financing（额度增加至2倍实缴资本及资本公积总合）

-Quota assumption (outstanding transferred to quota) calculation is complex (tenor, ccy, type factors applied)

(额度占用以实际提款为准，并且额度使用取决于融资期限，币种，类型等要素）

-Encourage RMB offshore financing Vs FCY

（鼓励人民币融资）

-Encourage medium/long tenor financing Vs short term

（鼓励中长期融资）

-Encourage trade finance (i.e.RMB trade financing doesn’t occupy any quota)

（鼓励贸易融资）

-No impact on X-border Cash Pooling / panda bond utilized in SFTZ

(跨境资金池及用于自贸区建设的熊猫债不占用额度）

FTU Offshore financing-自由贸易账户境外融资 2

22

FT Loan– 自由贸易账户贷款

Granted facility to SFTZ corporates through its FT Accounts by sourcing funding from offshore by

the Bank

由我行直接向海外拆入离岸人民币或外币,通过自贸区账户直接借给上海自贸区企业客户

Key features:

Full currencies applied for FT loan

全币种

Free conversion for FCY FT loan

外币贷款可以自由结汇

Loan disbursement follow FT account management mechanism by PBOC

贷款资金的使用遵照人民银行有关规定, 由开户行实施监管及报送.

2

23

FT account type Account holder definition

FTE entity in SFTZ

FTN Non-PRC resident entity

FTU Bank and finance company with Free Trade Account Unit or non-resident bank and finance company

FTI PRC individual working in SFTZ for at least 1 year

FTF Non-PRC individual working in SFTZ for at least 1 year

SFTZ entities can open FT Account with FTU licensed banks.

（上海自贸区企业可以在通过分账核算验收的银行开立自由贸易账户（特殊账户）

With FT Account opened, Corporate is allowed to access (设立自贸账户之后，企业可以：）

1, offshore funding (FTU offshore financing and FT loan), （获取境外资金的融资，直接境外融资以及自贸账户融资）

2, CNH hedging pricing (FX spot, option and forward) （用离岸价格进行保值业务）

Account management mechanism follows PBOC No.46 regulation.（自由贸易账户管理遵循人民银行46

号文）

FT Account – 自由贸易账户 2

24

2 FT Account – 自由贸易账户

25

2 Capital conversion on willingness basis-资本金意愿结汇

26

2 RMB cross border cash pool-人民币跨境资金池

27

BNP Paribas (China) Co., Ltd. SH FTZ Sub-branch 3 （我行自贸区支行及业务）

28

BNPP is among the 2nd batch in China to establish SFTZ Sub-branch （第二批被批准设立的自贸区支行）

BNPP is among the top 10 foreign banks to obtain FTU license （我行是前10家获批分账核算单元的外资银行）

We are able to offer you General Banking Service plus FTU Products/Services（我行提供普通商业银行服务

以及FTU项下的其他银行产品及服务）

Location wise: both SWFC office in Lujiazui and XinMao office in WGQ are acceptable（我们可以接受在自贸

区以及陆家嘴办公室办理开户及其他银行业务）

15/F XinMao Building,

No. 55 Jilong Rd.,

Waigaoqiao free

trade zone, Shanghai

25/F SWFC No. 100

Century Ave. Pudong.

Shanghai

BNPP Shanghai Free Trade Zone Sub-branch-法国巴黎银行上海自贸区支行 3

29

What BNPP can offer through FTZ sub-branch 3

30

BNP Paribas is incorporated in France with Limited Liability. Registered Office 16 boulevard des Italiens, 75009 Paris. BNP PARIBAS HONG

KONG BRANCH, 63/F, Two International Finance Centre, 8 Finance Street, Central, Hong Kong This presentation has been prepared by BNP

Paribas HK branch for informational purposes only. This presentation does not constitute a prospectus and is not intended to provide the sole

basis for any evaluation of the securities discussed herein. All estimates and opinions included in this presentation constitute our judgment as

of the date of the presentation and may be subject to change without notice. Changes to assumptions may have a material impact on any

recommendations made herein. Any prices or examples of possible transactions contained in this document are set out for illustrative purposes

only and do not constitute any form of offer from BNP Paribas HK branch to trade on such terms or constitute an indication that it is possible to

trade on those precise terms. Actual prices will depend on market conditions at the time the transaction is concluded. BNP Paribas HK branch

or their affiliates may, from time to time, have a position or make a market in the securities mentioned in this presentation, or in derivative

instruments based thereon, may solicit, perform or have performed investment banking, underwriting or other services (including acting as

adviser, manager or lender) for any company, institution or person referred to in this presentation and may, to the extent permitted by law, have

used the information herein contained, or the research or analysis upon which it is based, before its publication. Neither BNP Paribas HK

branch nor any of its affiliates makes any representation or warranty as to the accuracy or completeness of the information set out herein and

neither BNP Paribas HK branch nor any of its affiliates shall be responsible for any consequences of any reliance upon any opinion or

statement contained herein nor for any omission. The information contained in this document is provided to you by BNP Paribas HK branch on

a strictly confidential basis. It is being sent to you for your reference alone and it may not be circulated, distributed, reproduced or disclosed (in

whole or in part and in any manner whatsoever) to any other person without the prior written consent of BNP Paribas HK branch. Any U.S.

person receiving this presentation and wishing to effect a transaction in any security discussed herein must do so through a U.S. registered

broker dealer. © BNP Paribas (2014). All rights reserved.

Disclaimer