央行、外汇局，最新发文！

Core Viewpoint - The People's Bank of China and the State Administration of Foreign Exchange have issued a draft notification to optimize the management of funds for domestic enterprises listed abroad, aiming to enhance the convenience of cross-border financing for these enterprises [1][2]. Group 1: Policy Optimization - The draft notification consists of 26 articles aimed at standardizing foreign currency management policies and regulating the management of raised funds [2]. - Current policies for cross-border management of RMB and foreign currency for domestic enterprises going public abroad are inconsistent, necessitating further optimization [2]. - The existing management framework, established over 10 years ago, requires updates to improve convenience in registration, account usage, and fund exchange [2][3]. Group 2: Fund Management and Flexibility - The notification proposes that funds raised from overseas listings, as well as proceeds from share reductions or transfers, can be repatriated in either foreign currency or RMB, using capital account settlement accounts [3]. - Companies can autonomously choose foreign exchange risk management methods, allowing for more flexible use of raised funds [3]. - The notification aims to simplify the procedures for managing overseas listings, extending registration timelines and allowing banks to handle certain registrations directly [3][4]. Group 3: Regulatory Requirements - The notification stipulates that funds raised from overseas listings should generally be repatriated to the domestic market, with specific provisions for excess funds from shareholder contributions [4]. - It clarifies management requirements for convertible bonds issued abroad and allows for reasonable overseas business operations if prior approvals are obtained [4].