★境内企业境外上市本外币管理政策将统一

Group 1 - The core viewpoint of the news is the release of a draft notification by the People's Bank of China and the State Administration of Foreign Exchange to optimize and unify the management of cross-border funds for domestic enterprises listed overseas [1][2] - The notification consists of 26 articles aimed at standardizing foreign currency management policies and regulating the management of raised funds [1] - It proposes that funds raised from overseas listings, as well as proceeds from share reductions or transfers, can be repatriated in either foreign currency or RMB, with relevant funds allowed to use capital account settlement accounts for inflows and outflows [1] Group 2 - The notification aims to simplify the procedures for domestic enterprises listing overseas and relax registration time limits [2] - It suggests that the handling of registration related to overseas listings will shift from the foreign exchange bureau to banks, and extends the registration time limit for issuance and additional share listings from 15 to 30 working days [2] - The notification also clarifies that funds raised from overseas listings and proceeds from share reductions or transfers should generally be repatriated to the domestic market, while allowing for reasonable overseas business needs if prior approvals are obtained [2]