外汇局九箭齐发！促进跨境贸易收支便利化，支持外贸稳定发展

Core Viewpoint - The State Administration of Foreign Exchange (SAFE) has issued a notification to further facilitate foreign exchange settlement and support stable development of foreign trade through nine policy measures aimed at optimizing convenience, supporting new trade business models, and enhancing the efficiency of fund usage for trade enterprises [1] Group 1: Expansion of Cross-Border Trade High-Level Open Pilot - The pilot program for high-level open cross-border trade will be expanded to more regions, with 11 areas currently covered, facilitating approximately $1.7 trillion in pilot business since 2022 [2] - The notification allows for net settlement of trade receipts between domestic and foreign subsidiaries, potentially releasing over 1 billion RMB in operational funds for companies like Yangtze Optical Fibre and Cable Joint Stock Limited Company [2] - The types of net settlement for cross-border trade will be broadened to include service fees related to transportation, warehousing, and repairs, reducing transaction costs for enterprises [3] Group 2: Simplification of Procedures for Multinational Corporations - The notification simplifies the procedures for multinational corporations to centralize the collection and payment of foreign exchange for current account transactions, integrating the benefits of existing policies [3] - It facilitates the payment of salaries for foreign employees by allowing banks to determine the amount based on salary lists provided by quality enterprises, significantly improving processing efficiency [4] Group 3: Support for New Trade Business Models - The notification encourages the inclusion of more new trade business entities, particularly small and micro enterprises, into the scope of convenience policies, leveraging e-commerce platforms for better access [5] - It optimizes foreign exchange fund settlement for comprehensive foreign trade service enterprises, allowing for online automatic processing of cross-border e-commerce transactions based on electronic trading information [6] - A special mechanism for handling complex foreign exchange transactions will be established to ensure that banks can efficiently process legitimate and compliant foreign exchange needs of enterprises [6] Group 4: Enhancing Efficiency of Service Trade Fund Usage - The notification relaxes management of service trade advance payments, allowing direct processing of related service fees between domestic and foreign entities [7] - It supports overseas engineering companies in managing funds centrally across different projects and regions, which can reduce capital pressure by approximately 500 million RMB and decrease foreign exchange losses by about 30 million RMB annually [8]