Investment Side - The notice cancels the registration requirement for foreign-invested enterprises' domestic reinvestment and expands the pilot program for this exemption nationwide [2] - Since 2022, the State Administration of Foreign Exchange has conducted pilot programs in 12 regions, including Shanghai, Jiangsu, and Guangdong, for direct bank handling of foreign debt registration [2] - The pilot program for foreign-invested enterprises' domestic reinvestment exemption and direct foreign debt registration will be expanded to Tianjin, Anhui, Shandong (including Qingdao), Hubei, and Sichuan [2] Financing Side - The notice allows foreign exchange profits from direct foreign investment to be reinvested domestically and promotes the "Kehuitong" policy for non-enterprise research institutions to receive foreign funds nationwide [4] - The cross-border financing facilitation limit for high-tech, "specialized and innovative," and technology-based SMEs is raised to a maximum of USD 10 million, while the limit for selected enterprises under the "innovation points system" is increased to USD 20 million [4] - The notice simplifies the registration management for cross-border financing, allowing participating enterprises to skip providing the last audited financial report during the signing and registration phase [4] Payment Facilitation - The notice reduces the negative list for capital project income usage and removes restrictions on using foreign exchange income for purchasing non-self-use residential properties [5] - This policy is part of macro-control measures to stabilize the real estate market amid overheating concerns [5] - The notice optimizes the capital project foreign exchange income payment facilitation, allowing banks to determine the frequency and proportion of post-event random checks based on client compliance and risk levels [5] - The notice promotes the facilitation of foreign individuals' property purchase payment in mainland China, allowing them to exchange foreign currency for property purchases before obtaining the necessary registration documents [5]