国家外汇管理局深化跨境投融资改革 多举措服务实体经济高质量发展

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, aiming to enhance the convenience of cross-border investment and financing, attract foreign investment, and promote high-quality economic development [1][2]. Group 1: Cross-Border Investment Management Reform - The notification cancels the basic information registration for pre-investment expenses of foreign direct investment (FDI) [1]. - It eliminates the registration requirement for domestic reinvestment by foreign-invested enterprises, expanding the pilot policy to nationwide [1]. - Foreign exchange profits from foreign direct investment are now allowed to be reinvested domestically [1]. - The "Science and Technology Exchange" policy for non-enterprise research institutions receiving foreign funds will be expanded nationwide, facilitating foreign investment attraction [1]. Group 2: Cross-Border Financing Management Reform - The notification increases the cross-border financing convenience limit for high-tech, "specialized and innovative," and technology-based small and medium-sized enterprises to the equivalent of $10 million [2]. - For selected eligible enterprises under the "innovation points system," the cross-border financing limit is raised to the equivalent of $20 million [2]. - The signing and registration management requirements for enterprises participating in cross-border financing have been simplified, removing the need for audited financial reports from the previous year [2][3]. Group 3: Capital Project Income Payment Policy Optimization - The policy reduces the negative list for the use of foreign exchange income and its converted RMB for domestic payments, particularly lifting restrictions on purchasing non-self-use residential properties [3]. - This change indicates a relaxation of restrictions on foreign investment in the domestic real estate market, providing more convenience for foreign capital to enter [3].