温江勇表示，"十五五"时期，国家外汇管理局重庆市分局将锚定建立健全"更加便利、更加开放、更加 安全、更加智慧"的外汇管理体制机制，推进外汇领域深层次改革和高水平开放。(完) 国家外汇管理局重庆市分局副局长温江勇介绍，重庆做好西部陆海新通道等重大开放战略金融外汇服 务，凝聚沿线各方合力，共同提升通道金融服务能力。同时，加强"智慧外管"建设，通过数智赋能优化 外汇业务办理流程，提升外汇管理的有效性、外汇服务的体验感和友好度。 温江勇称，重庆坚持"放得活"又"管得好"，保持外汇市场稳健运行。一方面，进一步完善汇率风险管 理，推动构建政银担(政府、银行、担保机构)联动避险成本分摊模式，建立健全服务企业汇率风险管理 长效机制，降低中小微企业汇率避险成本。另一方面，则提升开放条件下外汇监管能力和水平，强化跨 境资金流动的监测预警，加强异常渠道和线索分析。 此外，重庆还在不断优化重点领域外汇服务，支持区域开放发展。 中新网重庆1月22日电 (张旭)中国人民银行重庆市分行副行长侯崴22日在重庆市政府新闻办举行的新闻 发布会上介绍，2025年，重庆在国家外汇管理局跨境金融服务平台上线场景10个，服务全市1800余家企 业便利化 ...

Core Viewpoint - The 2026 National Foreign Exchange Management Work Conference highlighted the achievements and future goals of foreign exchange management in China, focusing on supporting trade and enhancing the foreign exchange market [1] Group 1: Achievements in 2025 - In 2025, over 1 billion cross-border e-commerce foreign exchange transactions were processed online, serving more than 1.8 million small and micro businesses [1] - The foreign exchange management department strengthened policy integration and market construction, achieving historical highs in foreign exchange market trading volume and corporate foreign exchange hedging ratios [1] - Banks processed foreign exchange transactions worth $440 billion based on customer instructions throughout the year [1] Group 2: Goals for 2026 - The foreign exchange management work in 2026 aims to better balance development and security, creating a more convenient, open, secure, and intelligent foreign exchange management system [1] - There will be a focus on deepening reforms and high-level openness in the foreign exchange sector, ensuring that various entities' foreign exchange needs are met while mitigating external risks [1] - Enhanced supervision during and after transactions will be emphasized to foster a foreign exchange policy environment that is both flexible and well-regulated, contributing to the successful start of the 14th Five-Year Plan [1]

Core Viewpoint - The 2026 National Foreign Exchange Management Work Conference highlighted the achievements and future goals of foreign exchange management in China, focusing on supporting new trade formats and enhancing the regulatory framework for foreign exchange activities [1] Group 1: Achievements in 2025 - In 2025, over 1 billion online cross-border e-commerce foreign exchange transactions were processed, serving more than 1.8 million small and micro enterprises [1] - The foreign exchange management department strengthened policy integration and market construction, achieving historical highs in foreign exchange market transaction volume and corporate foreign exchange hedging ratios [1] - Banks processed foreign exchange transactions worth $440 billion based on customer instructions throughout the year [1] Group 2: Goals for 2026 - The foreign exchange management work in 2026 aims to better balance development and security, creating a more convenient, open, secure, and intelligent foreign exchange management system [1] - The focus will be on deepening reforms and high-level opening in the foreign exchange sector, effectively meeting the foreign exchange needs of various entities while mitigating external risks [1] - There will be an emphasis on enhancing supervision during and after transactions to foster a foreign exchange policy environment that is both flexible and well-regulated, contributing to the successful start of the 14th Five-Year Plan [1]

Core Viewpoint - The 2026 National Foreign Exchange Management Work Conference emphasizes the need for a more convenient, open, secure, and intelligent foreign exchange management system, aiming to promote deep reforms and high-level openness in the foreign exchange sector while ensuring the needs of various entities for foreign exchange are met and external risks are mitigated [1][2] Group 1: Key Focus Areas for Foreign Exchange Management - The conference highlights the importance of strengthening the Party's leadership over financial work and advancing strict governance within the Party [1] - It calls for the optimization of trade foreign exchange business management and the expansion of high-level open pilot programs for cross-border trade [1] - The meeting stresses the need to enhance the vitality of high-quality development through foreign exchange facilitation reforms, including support for new trade formats like cross-border e-commerce [1] Group 2: Institutional Opening and Cooperation - The conference proposes a steady and orderly advancement of bank foreign exchange business reforms, encouraging more banks to initiate reforms and integrate facilitation policies [2] - It emphasizes the implementation of policies for overseas lending and domestic foreign exchange loan fund management, as well as the management of cross-border capital for multinational companies [2] - The meeting supports the integrated reform and innovation of foreign exchange policies in free trade pilot zones, particularly in Shanghai, Hong Kong, Hainan Free Trade Port, and the Guangdong-Hong Kong-Macao Greater Bay Area [2] Group 3: Risk Management and Regulatory Measures - The conference underscores the importance of strengthening foreign exchange market analysis and enhancing macro-prudential and expectation management to maintain stable market operations [2] - It calls for the reinforcement of foreign exchange regulation and the improvement of regulatory capabilities and standards [2] - The meeting highlights the need for continuous efforts to combat illegal cross-border financial activities and enhance the supervision of foreign exchange market trading behaviors [2]

Core Viewpoint - The 2026 National Foreign Exchange Management Work Conference emphasized the need for a more convenient, open, secure, and intelligent foreign exchange management system, aiming to enhance the quality and efficiency of foreign exchange management while balancing development and security [1]. Group 1: Key Work Areas for 2026 - The conference outlined seven key areas for foreign exchange management in 2026, including strict governance, deepening foreign exchange facilitation reforms, and advancing high-level institutional openness in the foreign exchange sector [1]. - It highlighted the importance of strengthening foreign exchange market defenses and enhancing regulatory capabilities to ensure a stable foreign exchange policy environment [1]. Group 2: Foreign Exchange Facilitation Reforms - The meeting called for optimizing trade foreign exchange business management and expanding cross-border trade pilot programs, particularly supporting the development of new trade formats like cross-border e-commerce [2]. - It emphasized the need for financial institutions to develop user-friendly foreign exchange hedging products to lower costs for small and medium-sized enterprises [2]. Group 3: Strengthening Foreign Exchange Regulation - The conference stressed the importance of strict and fair law enforcement in foreign exchange regulation, enhancing non-site supervision capabilities, and monitoring trading behaviors in the foreign exchange market [3]. - It also highlighted the ongoing efforts to combat illegal cross-border financial activities [3].

Core Viewpoint - The 2026 National Foreign Exchange Management Work Conference emphasized the importance of implementing the spirit of the 20th National Congress and the Central Economic Work Conference, focusing on enhancing the foreign exchange management system and ensuring the stability of foreign exchange reserves [1][2]. Summary by Sections 2025 Achievements - The foreign exchange management department effectively implemented the decisions of the Central Committee and the State Council, achieving new results in various areas, including promoting high-quality development through strong party leadership, enhancing foreign exchange services for the real economy, deepening reforms, and maintaining stable foreign exchange reserves [1]. 2026 Key Work Focus - The foreign exchange management work in 2026 will be guided by Xi Jinping's thoughts, aiming to create a more convenient, open, secure, and intelligent foreign exchange management system, while effectively safeguarding the foreign exchange needs of various entities and mitigating external risks [2]. Specific Initiatives - Strengthening party leadership in financial work and promoting strict governance within the party [3] - Deepening foreign exchange facilitation reforms to enhance high-quality development, including optimizing trade foreign exchange management and supporting new trade formats like cross-border e-commerce [3] - Gradually advancing high-level institutional opening in the foreign exchange sector, including reforms in bank foreign exchange operations and policies for cross-border capital management [3] - Enhancing macro-prudential management and maintaining stable operation of the foreign exchange market through improved analysis and management [4] - Strengthening foreign exchange regulation and enforcement, including non现场监管 and combating illegal cross-border financial activities [4] - Ensuring the safety, liquidity, and value appreciation of foreign exchange reserve assets [5] - Promoting the revision of the Foreign Exchange Management Regulations and exploring the construction of a "smart foreign exchange management" system [5]

Core Viewpoint - The 2026 National Foreign Exchange Management Work Conference was held in Beijing, focusing on enhancing the vitality of high-quality development through reforms in foreign exchange management and optimizing trade foreign exchange business management [3][4]. Group 1: Key Work Areas for 2026 - Strengthening the Party's leadership over financial work and promoting strict governance within the Party [6]. - Deepening foreign exchange facilitation reforms to enhance high-quality development, including optimizing trade foreign exchange management and supporting new trade formats like cross-border e-commerce [6][7]. - Promoting high-level institutional opening in the foreign exchange sector to facilitate multi-field cooperation and win-win outcomes [7]. Group 2: Achievements in 2025 - The foreign exchange management department implemented policies to support stable foreign trade and investment, processing over 1 billion cross-border e-commerce foreign exchange transactions [4]. - The foreign exchange market saw record trading volumes and a historical high in the foreign exchange hedging ratio for enterprises [4]. - A total of $440 billion in foreign exchange business was handled by banks under customer instructions throughout the year [4]. Group 3: Regulatory Enhancements - Strengthening macro-prudential management and expectation management to maintain a stable foreign exchange market [7]. - Enhancing regulatory coverage in the foreign exchange sector, including strict enforcement against illegal activities and improving non-site supervision capabilities [7]. - Ensuring the safety, liquidity, and value preservation of foreign exchange reserve assets [7].

Core Viewpoint - The 2026 National Foreign Exchange Management Work Conference emphasized the importance of implementing the spirit of the 20th National Congress and the Central Economic Work Conference, focusing on enhancing the foreign exchange management system to ensure stability and security while promoting high-quality development [1][3][8]. Summary by Relevant Sections 2025 Achievements - The foreign exchange management department effectively implemented the decisions of the Central Committee and the State Council, achieving new results in various areas, including enhancing foreign exchange services for the real economy and supporting over 1 billion online foreign exchange transactions for new trade formats [2][7]. - The foreign exchange market saw record highs in trading volume and corporate foreign exchange hedging ratios, with banks handling foreign exchange business worth $440 billion based on client instructions [2][7]. 2026 Key Work Deployment - The focus for 2026 includes strengthening the Party's leadership over financial work, promoting comprehensive and strict governance, and enhancing the quality of party building [4][9]. - There will be a push for foreign exchange facilitation reforms, optimizing trade foreign exchange management, and expanding high-level openness in cross-border trade [4][9]. - The conference highlighted the need for robust macro-prudential management and regulatory measures to maintain a stable foreign exchange market, alongside efforts to combat illegal cross-border financial activities [4][9]. Future Directions - The foreign exchange management work will be guided by Xi Jinping's thoughts, aiming to create a more convenient, open, secure, and intelligent foreign exchange management system [3][8]. - The conference outlined plans to enhance the regulatory framework, improve the safety and liquidity of foreign exchange reserves, and revise the Foreign Exchange Management Regulations to establish a higher standard for international balance of payments statistics [4][9].

Core Insights - The State Administration of Foreign Exchange (SAFE) is set to introduce nine new policies aimed at enhancing trade facilitation, expanding the scope of high-level cross-border trade openness pilot programs, and optimizing foreign exchange fund settlement for new trade entities [1][2] Group 1: Trade Facilitation Policies - The new policies will include expanding the types of netting settlement businesses and relaxing management of service trade advance payment [1] - SAFE aims to deepen foreign exchange reform and maintain systemic risk prevention while promoting a more convenient, open, secure, and intelligent foreign exchange management system [1][2] Group 2: Global Trade Growth - Despite challenges such as the pandemic and geopolitical tensions, global trade has shown resilience, with the World Bank projecting an average annual growth of 5.4% in global trade from 2019 to 2024, an increase of 4.6 percentage points compared to the previous five years [1] - The United Nations forecasts that global trade will exceed $33 trillion this year, setting a new historical record [1] Group 3: Beijing's Role in Trade - Beijing has consistently surpassed a total goods trade volume of 3.6 trillion yuan over the past three years, with service trade growing at an average annual rate of nearly 10% [3] - SAFE will continue to support innovative foreign exchange policies in Beijing, enhancing cross-border trade and investment pilot programs to better serve the city's development as a global economic hub [3]

Core Points - The speech by Zhu Hexin at the 2025 Financial Street Forum emphasized the resilience of global trade and China's contributions to it [1] Group 1: Foreign Exchange Reform - Continuous deepening of foreign exchange reform and opening up is planned, with a focus on maintaining systemic risk prevention [1] - Aiming to build a foreign exchange management system that is "more convenient, more open, safer, and smarter" [1] - Improvement of the foreign exchange policy system based on the principle of "more integrity, more convenience" [1] Group 2: Trade Facilitation - Significant growth in the number of enterprises that can conduct business with instructions, increasing over five times compared to the end of 2020 [1] - Introduction of nine new policy measures aimed at expanding high-level openness in cross-border trade and optimizing foreign exchange fund settlement for new trade entities [1] - Enhanced management of service trade advance payment and a stronger push for trade innovation and development [1]