人民银行、外汇局：参与H股“全流通”的上市主体对境内股东的分红款应在境内以人民币形式派发

Core Viewpoint - The People's Bank of China and the State Administration of Foreign Exchange have issued a notification to facilitate domestic companies in raising funds efficiently in overseas financial markets [1] Group 1: Unified Currency Management Policies - The notification standardizes foreign currency fund management policies, allowing funds raised from overseas listings, share reductions, or transfers to be repatriated in either foreign currency or RMB [1] - For H-share companies, dividends to domestic shareholders must be distributed in RMB within the domestic market [1] Group 2: Fund Utilization and Risk Management - Companies can autonomously settle foreign currency for funds raised overseas, and they have the flexibility to choose methods for managing exchange rate risks [1] Group 3: Simplified Management Procedures - The notification simplifies management procedures and relaxes registration time limits, enabling banks to directly handle the registration for domestic companies listing abroad [1] - It also eases the registration time limits for issuance, additional issuance, and share reductions [1] Group 4: Fund Management Regulations - Funds raised from overseas listings and proceeds from share reductions or transfers are generally required to be repatriated to the domestic market [1] - If shareholders have surplus funds from additional share purchases or if transactions do not materialize, these funds should be promptly returned to the domestic market [1] - Certain qualified companies are allowed to retain raised funds for use outside of China [1] Group 5: Future Financial Support - The People's Bank of China and the State Administration of Foreign Exchange will continue to enhance financial support for the real economy and optimize cross-border fund management policies [2] - The aim is to improve the convenience of cross-border investment and financing, providing strong support for high-quality economic development [2]