最新发布！事关境内企业境外上市资金管理

Core Viewpoint - The People's Bank of China and the State Administration of Foreign Exchange have issued a notification to facilitate domestic enterprises in raising funds efficiently in overseas financial markets, effective from April 1, 2026 [1] Group 1: Fund Management Policies - Domestic enterprises can use both overseas and domestic funds to repurchase their overseas shares [5] - Funds raised from overseas listings, share reductions, or transfers can be returned to China in either foreign currency or RMB, with dividends to domestic shareholders distributed in RMB [3][4] - The notification standardizes foreign currency fund management policies for overseas listings and allows for self-managed foreign exchange risk [3][4] Group 2: Simplification of Procedures - The notification simplifies management procedures and relaxes registration time limits for issuing, increasing, or reducing shares [4] - Banks are encouraged to assist enterprises in directly handling registration for overseas listings [4] Group 3: Regulations on Fund Usage - Funds raised from overseas listings should generally be returned to China, with specific conditions allowing certain enterprises to retain funds abroad for direct investments or other approved activities [5] - Any surplus funds from share repurchases must be returned to China promptly if the transaction does not occur [5] Group 4: H-share "Full Circulation" Regulations - Funds related to H-share "full circulation" must be transferred through designated accounts managed by China Securities Depository and Clearing Corporation [6] - Dividends for domestic shareholders from companies participating in H-share "full circulation" must be distributed in RMB through domestic channels [6]