两部门出台境内企业境外上市资金管理新规

Core Viewpoint - The People's Bank of China and the State Administration of Foreign Exchange have issued a notice to facilitate domestic companies in raising funds efficiently in overseas financial markets [1] Group 1: Currency Management - The notice 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] - Companies participating in H-shares "full circulation" must distribute dividends to domestic shareholders in RMB [1] Group 2: Fund Utilization and Risk Management - Companies can autonomously settle and use foreign currency funds raised from overseas listings, with the option to choose their own methods for managing exchange rate risks [1] Group 3: Administrative Simplification - The notice simplifies management procedures, allowing banks to directly handle the registration of domestic companies for overseas listings and easing the time limits for registration related to issuance, additional issuance, and share reductions [1] Group 4: Fund Management Regulation - Funds raised from overseas listings, as well as proceeds from share reductions or transfers, should generally be repatriated to the domestic market, with any surplus or uncompleted transactions needing to be returned promptly [1] - Certain qualified companies are permitted 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 plan to enhance financial support for the real economy and continue optimizing cross-border fund management policies to improve the convenience of cross-border investment and financing [1]