Qianhai Cooperation Zone in Shenzhen: Plans to strengthen insurance coverage across the entire low-altitude economy industry chain

People’s Finance and Information reported on April 8 that the “Twelve Measures for Financial Empowerment of the Low-Altitude Economy for High-Quality Development of the Industry in the Shenzhen Qianhai Shenzhen-Hong Kong Modern Service Industries Cooperation Zone (Draft for Public Comment)” is publicly soliciting comments. It mentions strengthening insurance coverage across the entire low-altitude economy industry chain. It encourages insurance institutions to promote insurance products covering R&D, property, product, liability, and talent by focusing on new aircraft such as electric vertical takeoff and landing (eVTOL) vehicles, industrial-grade unmanned aerial vehicles, and their key core components such as engines and propellers. It also calls for optimizing cross-border financial services for the low-altitude economy. It supports low-altitude economy companies in opening Qianhai Free Trade accounts (FT accounts). By leveraging the advantages of integrated operation across RMB and foreign currencies, convenient cross-border fund settlement, and the ability to independently choose onshore and offshore exchange rates, it aims to improve the efficiency of cross-border receipt, payment, and financing, and to help companies carry out cross-border R&D cooperation, international procurement and sales of equipment, and overseas market expansion and other cross-border business activities.