Group 1 - The core viewpoint of the article emphasizes the need for efficient cross-border fund management solutions as traditional settlement models face challenges in complexity and timeliness [1] - Financial institutions are responding to market demands by innovating technology and optimizing processes to create more convenient cross-border fund "highways" for enterprises [1] Group 2 - The reform of foreign exchange operations has become a key focus for banks to enhance the quality and efficiency of cross-border financial services [3] - Several commercial banks have upgraded their foreign exchange business processes, replacing traditional models with a single instruction system, significantly reducing operational costs and improving fund flow channels for enterprises [3] - A cross-border logistics company benefited from a bank's premium enterprise recognition, allowing direct handling of cross-border freight payment business, saving considerable time in document preparation [3] Group 3 - The demand for cross-border fund management is becoming increasingly diversified as multinational companies expand globally [4] - There is a growing need for centralized management of funds scattered worldwide, leading to the development of a "one point access to the globe" management model [4] - Banks are providing personalized services to meet the differentiated needs of clients, enhancing the effectiveness and security of fund management for multinational corporations [4]

企业有需求，金融机构有响应。《上海国际金融中心进一步提升跨境金融服务便利化行动方案》（下 称"行动方案"）提出，提高跨境结算效率，便利企业全球资金管理。金融机构也以此为契机，持续推进 业务流程优化和技术改造，在兼顾"促便利"与"防风险"的基础上，提升跨境金融服务便利化。 对于企业出海来说，高效畅通的资金结算至关重要，一笔入账不及时就可能影响资金周转。 对于跨境收付需求大、频率高的企业来说，这节省了不少"脚底成本"与财务成本。以某跨境物流企业为 例，中信银行上海分行根据模型和人工将其认定为优质企业，可凭指令办理跨境运费收支，极大节省了 企业单据整理和传递的时间。同时，该行还为其定制了API直连解决方案，将企业内部管理系统与行内 业务处理系统通过接口一键直连，满足了客户跨境业务直连办理的需求。 目前，系统可自动抓取提单、报关单、税务备案表等电子信息，实现从指令发送到资金出入账的全自动 处理。效率的提升直接反映在业务流转中——单笔业务耗时缩短至10分钟以内，实现单据准备时间减少 70%，财务人力投入下降70%，到账时效提升70%。 当流程简化至"指尖"、时间压缩至分秒，跨境资金"轻装上阵"。据悉，自外汇展业改革试点 ...

Core Insights - The establishment of the EF account in Hainan Free Trade Port has significantly facilitated cross-border capital flow, with over 330 accounts opened and a transaction volume exceeding 120 billion RMB as of early May 2023 [4][5] - The EF account allows for more convenient and cost-effective foreign exchange operations for enterprises, saving approximately 300 RMB per $10,000 in transaction costs [3][4] - The QFLP and QDLP policies are enhancing cross-border investment opportunities, attracting foreign capital into Hainan and allowing domestic funds to invest abroad [5][6] Financial Innovations - The EF account serves as a "currency bridge" between Hainan and foreign markets, enabling seamless cross-border transactions [4] - As of May 2023, 19 countries and regions have opened EF accounts in Hainan, with funds flowing to and from 48 countries [2][5] - The total foreign exchange revenue and expenditure in Hainan is projected to reach $108.63 billion in 2024, marking a significant milestone for the region [2] Policy Developments - The Hainan Free Trade Port has implemented a series of financial policies aimed at enhancing cross-border capital flow, including the expansion of the cross-border trade and investment pilot program [8] - The establishment of a cross-border capital centralized operation center is expected to further streamline financial operations and enhance the region's attractiveness for foreign investment [8] - The financial policies in Hainan are designed to create a secure and efficient environment for both domestic and international businesses, promoting a robust financial ecosystem [5][8]

长江商报消息 ●长江商报记者 李璟 《通知》共26条内容，包括回应市场诉求，拟对现行境内企业境外上市资金管理有关政策进行优化，统 一本外币管理政策，规范募集资金管理，支持境内企业在国际金融市场高效融资。 近年来，监管部门持续推进资本市场高水平双向开放，提升外资参与境内市场的便利性，鼓励符合条件 的境内企业依法依规赴境外上市，增强全球市场拓展能力。证监会近日披露的数据显示，自2023年境外 上市新规正式实施以来，备案管理机制运行平稳。截至今年4月底，已有242家境内企业完成了境外上市 备案。 发行上市登记时限延至30个工作日 近年来，金融监管部门持续推进金融高水平开放，完善本外币一体化的跨境资金管理，跨境贸易和投融 资便利化水平不断提升。 然而，目前境内企业赴境外上市的人民币和外币跨境管理政策不统一，有必要对境内企业赴境外上市资 金管理政策需要进一步优化完善。中国证监会对境内企业赴境外上市以及H股"全流通"的管理由审批制 变为备案制后，也有必要同步更新汇兑环节的资金管理政策。同时，国家外汇局在2014年发布的《关于 境外上市外汇管理有关问题的通知》实施已逾10年，现有管理在登记时间要求、账户使用、资金汇兑等 方 ...

Core Viewpoint - The recent draft notification by the People's Bank of China and the State Administration of Foreign Exchange aims to streamline the process for domestic companies to raise funds through overseas listings, enhancing the flexibility and efficiency of cross-border financing [1][3]. Group 1: Policy Objectives - The notification seeks to unify the management of domestic and foreign currency, addressing inconsistencies in cross-border management policies for companies going public abroad [3]. - It aims to provide more flexibility in the use of funds raised overseas and improve foreign exchange risk management for companies [4]. - The management procedures for overseas listings will be simplified, with extended registration timelines and reduced bureaucratic hurdles [4]. Group 2: Key Provisions - Companies can now repatriate funds raised from overseas listings in either foreign currency or RMB, using capital project settlement accounts for transactions [3]. - The notification allows companies to autonomously manage foreign exchange risks and conduct spot foreign exchange transactions and hedging through banks or brokers [4]. - Registration timelines for issuing, increasing, and reducing shares have been extended, with specific adjustments made to the registration process to facilitate easier compliance [4]. Group 3: Impact on Companies - The notification is expected to create a more favorable policy environment for companies seeking to list abroad, thereby enhancing their competitiveness in international capital markets [5]. - It supports the broader goal of advancing high-level financial openness and integration within the global economy [5].

企业募集资金境内使用和外汇风险管理也更加灵活便利。境外上市募集资金以外币调回的，企业可自主 结汇使用；上市主体可自主选择通过银行或券商办理即期结售汇及套期保值交易等外汇风险管理途径。 近日，中国人民银行、国家外汇局共同起草并发布《关于境内企业境外上市资金管理有关问题的通知 （公开征求意见稿）》（下称《通知》），旨在进一步推进金融高水平开放，完善本外币一体化的跨境 资金管理，支持境内企业在国际金融市场高效融资。 第一财经记者采访获悉，近年来，随着金融高水平开放的持续推进，境内企业赴境外上市的人民币和外 币跨境管理政策不统一问题逐渐凸显。同时，中国证监会对境内企业赴境外上市以及H股"全流通"的管 理由审批制变为备案制，汇兑环节的资金管理政策也亟需同步更新。 此外，现行相关通知已实施逾10年，在登记时间要求、账户使用、资金汇兑等方面难以满足经营主体日 益增长的便利化需求。为回应市场需求，结合前期在北京、上海、广东等12地开展的银行办理境外上市 登记业务试点情况，《通知》落地。 《通知》共二十六条，涵盖多方面重要内容。在统一本外币管理政策方面，境外上市募集资金、减持或 转让股份等所得既可以外币也可以人民币调回，相关资 ...

Core Points - The People's Bank of China and the State Administration of Foreign Exchange have drafted a notice to improve and unify the management of cross-border funds for domestic enterprises listed abroad, aiming to enhance the convenience of cross-border financing for these enterprises [1][2] - The notice allows for the return of funds raised from overseas listings in either foreign currency or RMB, with provisions for using capital project settlement accounts for fund transfers [1] - Companies participating in H-shares "full circulation" can distribute dividends to domestic shareholders in RMB, making the management of raised funds and foreign exchange risks more flexible [1] Group 1 - The management procedures for domestic enterprises listing abroad have been simplified, allowing banks to handle registration instead of the foreign exchange bureau [2] - The registration time limit for issuing listings and additional share issuance has been extended from 15 to 30 working days [2] - The time limit for reducing share registration has been adjusted from 20 working days before the intended reduction to 30 working days after the reduction [2] Group 2 - The management of raised funds has been further standardized, with a principle that funds from overseas listings should generally be returned to the domestic market [2] - Companies are allowed to retain funds for reasonable overseas investments if they have obtained prior approvals or filings from relevant authorities before listing abroad [2] - Clear management requirements have been established for overseas issuance of convertible bonds and the conversion of these bonds into stocks [2]

Core Viewpoint - In April, despite extreme tariff pressures, the RMB exchange rate quickly stabilized and rebounded after a brief adjustment, while the multilateral exchange rate continued to weaken. The passive appreciation of the RMB under a weak dollar index should not be overly concerning [3][5][6]. Group 1: RMB Exchange Rate Dynamics - In April, the RMB exchange rate initially fell due to the impact of Trump's tariffs but rebounded quickly, with the onshore RMB rate at 7.2632 and offshore RMB rate at 7.2689 by the end of the month, reflecting a depreciation of 0.2% and 0.1% respectively compared to the previous month [5][6]. - The RMB nominal effective exchange rate index fell by 2.2% in April, which was greater than the 1.4% decline in the dollar index, indicating a broader weakening of the RMB against other currencies [6][7]. - The RMB's actual effective exchange rate weakened due to inflation differentials, which helps maintain the price competitiveness of Chinese exports [7]. Group 2: Cross-Border Capital Flows - Cross-border capital continued to show net inflows, with a historical high of $630 billion in goods trade surplus in April, despite pressures in securities investment [10][11]. - In April, foreign investment in domestic bonds increased by $109 billion, indicating a strong interest in RMB-denominated assets, supported by effective government measures [11][12]. - The net outflow in securities investment was $125 billion, but this was less than the average monthly outflow of $284 billion from October 2024 to January 2025, suggesting limited pressure on cross-border capital outflows [11][12]. Group 3: Market Responses and Government Actions - The Chinese government implemented a series of financial support policies and counter-tariff measures, which helped stabilize market expectations and maintain foreign investment interest in RMB assets [12][10]. - The Central Huijin Investment Company announced plans to increase holdings in ETFs and quality stocks, reinforcing market confidence [12]. - The willingness of market participants to settle foreign exchange transactions increased, with a surplus in bank foreign exchange settlements rising from $63 billion to $166 billion in April [16][17].

智通财经5月20日早间新闻精选 1、5月20日早间，多家国有大行及部分股份行再度下调人民币存款挂牌利率。其中，中国工商银行、中 国建设银行、中国银行、招商银行活期利率均下调5个基点至0.05%；定期整存整取三个月期、半年 期、一年期、二年期均下调15个基点，分别为0.65%、0.85%、0.95%、1.05%；三年期和五年期均下调 25个基点，分别至1.25%和1.3%。 2、美国商务部网站将"在世界任何地方使用华为昇腾芯片均违反美国出口管制法规"的表述调整为"警告 业界使用中国先进计算机芯片，包括特定华为昇腾芯片的风险"。对此，中国商务部新闻发言人对此表 示，美方以莫须有的罪名对中国芯片产品加严管制，甚至干涉中国公司在中国境内使用中国自己生产的 芯片，是典型的单边霸凌行径，中方坚决反对。 11、万润新能公告，与宁德时代签订132.31万吨磷酸铁锂产品供应协议；弘信电子公告，控股子公司签 署1.77亿元算力技术服务合同和3.85亿元算力硬件采购合同。 12、乐山电力公告，分时电价机制调整，预计减少公司2025年电力业务收益850万元左右。 3、国家外汇管理局副局长、新闻发言人李斌表示，4月，企业、个人等非银行 ...

2025.05. 19 本文字数：736，阅读时长大约2分钟 据外汇局，日前，国家外汇管理局公布了2025年4月银行结售汇和银行代客涉外收付款数据。国家外 汇管理局副局长、新闻发言人李斌就2025年4月外汇收支形势回答了记者提问。 问：2025年4月我国外汇收支形势如何？ 答： 跨境资金总体呈现净流入。 4月，企业、个人等非银行部门跨境资金净流入173亿美元。从主要 渠道看， 一是 我国外贸呈现一定韧性，货物贸易项下跨境资金净流入649亿美元，保持较高规模。 二是 外资配置人民币资产意愿持续向好。4月外资净增持境内债券109亿美元，处于较高水平。4月 下旬外资投资境内股票转为净买入。 三是 主要流出渠道平稳有序。4月服务贸易资金净流出环比基 本持平；外资企业利润汇出季节性增加，但低于去年同期；来华和对外直接投资基本稳定，关联企业 借贷往来跨境资金由净流出转为基本平衡。 市场预期平稳，境内外汇供求基本平衡。 4月银行结汇和售汇环比分别增长12.8%和13.9%，市场交 易保持活跃。结售汇差额基本均衡，市场预期和交易理性有序。4月衡量市场结汇意愿的结汇率为 64.4%，环比上升6.9个百分点，衡量购汇意愿的售汇率 ...