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 issuing, increasing, or reducing shares [1] Group 4: Fund Management Regulation - Funds raised from overseas listings or 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 facilitate cross-border investment and financing [1]