2. The group headquarters shall designate an operating or investing member enterprise (including a financial management company) which is incorporated in the PFTZ, and choose a bank to open one RMB dedicated deposit account for centralized payment and receipt of cross-border RMB under current account on behalf of its domestic and overseas related parties.

3. The enterprise in the PFTZ shall enter into agreements of centralized payment and receipts under current account with each party that is making such arrangement with them, defining respective responsibilities in respect of the trade authenticity.

VII. Cross-border E-Business RMB Settlement

1. Banks in Shanghai are encouraged to directly provide cross-border RMB settlement services for actual e-Business transactions to the PFTZ-registered institutions that are engaged in cross-border e-Business.

2. Banks in Shanghai are supported to cooperate with the PFTZ-based payment service institutions (and their branches) holding an Internet Payment Business Permit, to provide cross-border RMB settlement services for actual e-Business transactions, including transactions by individuals and entities engaged in cross-border e-Business exports.

3. Banks shall enter into agreements with payment service institutions in respect of processing cross-border e-Business RMB settlement, and shall file the agreement with PBC Shanghai. The banks shall verify the authenticity and compliance status of the underlying transaction of the cross-border RMB settlement business processed through payment service institutions. The cross-border RMB settlement business forwarded to the banks by the payment service institutions shall have a cross-border e-Business transaction background, and shall be in accordance with the relevant state laws and regulations. The payment service institutions shall perform verification duties concerning anti-money laundering, counter-terrorist financing and keep corresponding transaction record, and shall coordinate with relevant state authorities to conduct inspections.

4. Payment service institutions shall conform to the Administrative Measures for the Payment Services Provided by Non-financial Institutions (The People’s Bank of China Decree [2010] No. 2), the Measures for the Custody of the Reserves of Payment Institutions' Clients (The People’s Bank of China Announcement [2013] No. 6) and other relevant regulations.