外汇局深化跨境投融资外汇管理改革

Core Viewpoint - The State Administration of Foreign Exchange (SAFE) has issued a notification to deepen the reform of cross-border investment and financing foreign exchange management, introducing nine measures aimed at enhancing the convenience of cross-border investment and financing, attracting foreign investment, and promoting high-quality development of the real economy [1][2]. Group 1: Cross-Border Investment - The notification cancels the basic information registration for preliminary expenses of Foreign Direct Investment (FDI), allowing foreign investors to directly open accounts and remit funds without prior registration [1]. - The policy of exempting registration for domestic reinvestment by FDI enterprises, previously piloted in certain provinces, is now expanded nationwide, facilitating reinvestment without the need for registration [2]. Group 2: Cross-Border Financing - The notification increases the cross-border financing convenience limit for high-tech, specialized, and innovative small and medium-sized enterprises to the equivalent of $10 million, with some selected enterprises receiving an increased limit of $20 million [2]. - Simplification of cross-border financing registration management is introduced, eliminating the requirement for audited financial reports during the signing and registration process for participating enterprises [2]. Group 3: Payment Convenience - The negative list for the use of foreign exchange income and its converted RMB for domestic payments is reduced, removing restrictions on purchasing non-self-use residential properties [2]. - The notification promotes a "pay first, supplement later" approach for foreign individuals purchasing property in China, allowing them to exchange foreign currency for property payments before obtaining the necessary purchase registration documents [3].