国家外汇局召开下半年外汇管理工作交流会 适时开展逆周期调节 维护外汇市场稳定

Core Viewpoint - The National Foreign Exchange Administration emphasizes the modernization of foreign exchange governance and the establishment of a more convenient, open, secure, and intelligent foreign exchange management system to support high-quality economic development and the construction of Chinese-style modernization [1]. Group 1: Key Work Deployment for H2 2025 - Strengthening Party Construction: The meeting highlights the importance of implementing the spirit of the financial system's Party construction work meeting and enhancing the quality and effectiveness of Party building within the system [1]. - Deepening Reform and Opening Up in Foreign Exchange: The meeting proposes a comprehensive policy package to support foreign trade stability, including optimizing foreign exchange fund settlement for new foreign trade entities and facilitating overseas fund management for contracting enterprises [1][2]. - Promoting Cross-Border Investment and Financing Facilitation: The meeting calls for the removal of registration for reinvestment by foreign-invested enterprises and the facilitation of cross-border financing for technology enterprises, along with the implementation of multinational corporate cash pool management policies [1][2]. Group 2: Risk Management and Regulatory Enhancements - Preventing External Shock Risks: The meeting emphasizes the need for enhanced monitoring and analysis of foreign exchange conditions, macro-prudential management of cross-border capital flows, and timely counter-cyclical adjustments to maintain market stability [2]. - Improving Regulatory Capacity: The meeting stresses the importance of strengthening the legal framework for foreign exchange management, enhancing real-time supervision, and utilizing technology to improve regulatory efficiency while combating illegal cross-border financial activities [2]. Group 3: Enhancements in Foreign Exchange Management - Improving Foreign Exchange Reserve Management: The meeting outlines the need to ensure the safety, liquidity, and value preservation of foreign exchange reserve assets [3]. - Advancing International Balance of Payments Statistics: The meeting discusses the development of an implementation plan for the seventh edition of the "Balance of Payments and International Investment Position Manual" [4]. - Elevating Foreign Exchange Management Standards: The meeting calls for improved evaluation and tracking of policies before and after implementation, as well as the exploration of "smart foreign exchange management" [4].