Recently, Shougang Finance Company has gotten the green light from China Banking Regulatory Commission and been approved as the sponsor of the centralized operation management business of foreign exchange funds of Shougang Group to carry out the related business such as the centralized operation management of the group company’s foreign exchange funds.

Since its establishment, Shougang Finance Company has taken “improving efficiency, benefit and value” as the goal, fully utilized the functional orientation of four great platforms: the fund concentration platform, fund settlement platform, fund monitoring platform and financial service platform, continuously improved the construction of “cash pooling” and “bill pooling" and actively promoted the work of “foreign exchange pooling” of Shougang Group. According to the approval of China Banking Regulatory Commission, authorized by Shougang Group, Shougang Finance Company will be qualified to carry out the domestic collection of overseas foreign exchange funds, centralized management of domestic foreign exchange funds, centralized management of domestic foreign exchange funds, centralized allocation of foreign debts and foreign lending sums, and regular payment and collection of foreign exchange payments. This will not only help broaden the scope and depth of centralized capital management of Shougang Group, strengthen the coordination and coordination functions of Shougang Group's foreign exchange funds, promote the intensive management of offshore funds, but also help enrich the international financial services function of Shougang Group at a new starting point and accelerate the Group's The pace of “going global” with member companies helped Shougang Group to improve its international operation capabilities and level.

It is reported that in order to thoroughly implement the strategy of integration of industry and finance and effectively improve the operating ability of domestic and foreign currencies and cross-market funds, Shougang Finance Company is accelerating the research and development of centralized management plan of Shougang Group’s foreign exchange funds so as to effectively make use of the platform advantages of the non-bank financial institutions of Shougang Finance Company, give full play to the role of the new policies of national foreign exchange management and comprehensively upgrade the integrated management level of domestic and offshore funds of Shougang Group.