Zhongtong Payment, as a benchmark enterprise in the cross-border payment field in Guangxi, has recently ushered in a major breakthrough.
Its member company Zhongtong Digital (Hong Kong) Co., Ltd. successfully obtained the Hong Kong MSO license and became the first legal person payment institution in Guangxi to complete the cross-border RMB payment registration and obtain this license. This achievement has injected new momentum into ASEAN cross-border trade settlement and laid a solid foundation for its own global compliance layout.
The Hong Kong MSO license is a money service operator license, which is issued by the Hong Kong Customs in accordance with the “Anti-Money Laundering and Counter-Terrorist Financing Ordinance” and is a core compliance qualification in the cross-border financial field.
After obtaining the license, ZTO Payment officially opened up a compliance channel linking domestic and overseas financial markets, and obtained core capabilities such as cross-border remittance, currency exchange, multi-currency cross-border settlement and offshore RMB clearing in accordance with the law.
Moreover, its business operations are subject to strict supervision by Hong Kong Customs throughout the entire process, which gives ZTO Payment’s compliance level and professional capabilities an authoritative endorsement.
Deeply cultivating in Guangxi and establishing a foothold in Nanning is the core development foundation of Zhongtong Payment.
The company will set up its registration place and operational headquarters in Nanning, and invest approximately 240 million yuan to build a new retail smart industrial park in Wuxiang New District, deeply integrating into Nanning’s urban development and industrial layout.
Relying on the strong logistics ecological resources of ZTO Express Group, ZTO Pay has built a logistics fund settlement network covering Vietnam, Thailand, Cambodia and other core ASEAN countries, forming the unique advantage of the coordinated development of “logistics + payment” and accurately solving the difficulties and blockages in cross-border trade settlement.
The implementation of the MSO license has further strengthened Zhongtong Payment’s comprehensive ability to serve ASEAN cross-border trade.
In cross-border trade, the payment and settlement link is crucial, and with this license, ZTO Payment can provide services to enterprises more efficiently and compliantly.
For Nanning, this provides important support for accelerating the construction of a financial open door to ASEAN.
As economic and trade cooperation between China and the ASEAN region becomes increasingly closer, the demand for cross-border payments is also growing.
After ZTO Payment obtains the license, it will be able to better meet market demand and promote smooth trade.
In the future, ZTO Payment will continue to leverage its license, location and ecological advantages to deeply explore the ASEAN cross-border payment market.
It will empower the high-quality development of cross-border trade with professional financial services and contribute solid force to Nanning’s high-level opening up and China-ASEAN regional economic and trade cooperation.
In the context of globalization, this breakthrough of ZTO Payment will not only help its own development and growth, but will also provide more powerful payment support for Chinese goods to go global, and promote economic exchanges and cooperation between China and the ASEAN region to new heights.
