Core Points - The State Administration of Foreign Exchange (SAFE) has issued a notice to deepen the reform of cross-border investment and financing foreign exchange management, aiming to facilitate cross-border investment and financing, expand high-level openness, and support high-quality economic development [1][2] Group 1: Cross-Border Investment Reforms - The notice cancels the basic information registration for foreign direct investment (FDI) pre-expenses [1] - It eliminates the registration requirement for domestic reinvestment by foreign-invested enterprises, expanding the pilot policy to nationwide implementation [1] - Foreign exchange profits from foreign direct investment are now allowed for reinvestment within the country [1] - The policy allowing non-enterprise research institutions to receive foreign funds will be expanded nationwide [1] Group 2: Cross-Border Financing Reforms - The facilitation limit for cross-border financing for high-tech, "specialized and innovative," and technology-based small and medium-sized enterprises has been unified to the equivalent of $10 million [2] - For selected enterprises under the "innovation points system," the cross-border financing facilitation limit can be further increased to the equivalent of $20 million [2] - The registration management process for cross-border financing has been simplified, removing the requirement for audited financial reports from the previous year [2] Group 3: Capital Project Income Payment Optimization - The negative list for capital project income usage has been reduced, removing restrictions on purchasing non-self-used residential properties [2][3] - Banks are allowed to determine the frequency and proportion of post-event random checks for facilitation services based on clients' compliance and risk levels [2] - Foreign individuals can now process foreign exchange settlement for real estate purchases before obtaining the purchase registration certificate, provided they meet local purchasing qualifications [2][4] Group 4: Real Estate Market Context - The adjustments in foreign exchange management measures are in response to changes in the domestic real estate market and aim to support stable development [3] - The new policy facilitates foreign individuals' reasonable housing needs in the country, promoting regional integration and talent mobility [4]