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外汇管理改革
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【金融街发布】国家外汇局:积极推进跨境投融资便利化 推动取消外商投资企业境内再投资登记落地见效
Xin Hua Cai Jing· 2025-08-01 13:59
Core Viewpoint - The State Administration of Foreign Exchange (SAFE) held a video conference to discuss foreign exchange management work for the second half of 2025, emphasizing the importance of risk prevention, strong regulation, and promoting development in the foreign exchange sector [1][2]. Group 1: Key Points from the Meeting - Since 2025, the foreign exchange management department has focused on implementing the central economic work conference's spirit, enhancing support for the real economy's high-quality development, and facilitating foreign trade [2]. - The department has introduced policies to ease foreign exchange settlement for quality enterprises and expanded cross-border trade pilot programs [2]. - A total of $30.8 billion in new investment quotas has been allocated to Qualified Domestic Institutional Investors (QDII) [2]. Group 2: Future Work Plans - The meeting outlined plans to deepen foreign exchange reform and support stable foreign trade, including optimizing foreign exchange management for new trade entities and facilitating overseas funding for engineering companies [3]. - There will be a push to cancel registration for reinvestment by foreign-invested enterprises and to facilitate cross-border financing for technology companies [3]. - The focus will also be on enhancing the regulatory capacity under open conditions, improving legal frameworks for foreign exchange management, and utilizing technology to increase regulatory efficiency [3].
国家外汇局:适时开展逆周期调节 维护外汇市场稳定和国家经济金融安全
智通财经网· 2025-08-01 13:20
Core Points - The State Administration of Foreign Exchange (SAFE) held a video conference on August 1 to discuss foreign exchange management work for the second half of 2025, emphasizing the need to prevent and mitigate external shock risks [1][3] - The meeting highlighted the importance of deepening reforms and opening up in the foreign exchange sector to support stable foreign trade and facilitate cross-border financing [1][4] Group 1: Key Highlights from the Meeting - The meeting underscored the need for enhanced monitoring and analysis of foreign exchange conditions, as well as macro-prudential management of cross-border capital flows [1][6] - SAFE reported that since the beginning of 2025, it has made significant progress in supporting the real economy, including facilitating foreign exchange settlement for quality enterprises and expanding cross-border trade [4][6] - The foreign exchange market has shown resilience amid complex conditions, with the management maintaining a flexible RMB exchange rate [4][6] Group 2: Focus Areas for the Second Half of 2025 - The meeting outlined key tasks, including strengthening the Party's leadership in financial and foreign exchange work and modernizing governance capabilities in the foreign exchange sector [5][6] - Specific measures include optimizing foreign exchange management for new foreign trade entities, facilitating overseas fund management for engineering companies, and promoting cross-border financing for technology enterprises [1][6] - The meeting also emphasized the need to enhance regulatory capabilities under open conditions and improve the legal framework for foreign exchange management [6][7]
金融高水平开放驶入快车道
Jing Ji Ri Bao· 2025-06-25 21:58
Group 1: Cross-Border Payment System - The cross-border payment system has officially launched, allowing residents from mainland China and Hong Kong to transfer funds in real-time using just a phone number or account name [1] - The first cross-border payment transaction occurred in Shenzhen, marking a significant step towards the interconnectivity of payment systems between mainland China and Hong Kong [1] Group 2: Digital Renminbi International Operations - The establishment of the Digital Renminbi International Operations Center in Shanghai is a first for China, aimed at enhancing the international competitiveness of the Renminbi [2] - The integration of blockchain and smart contracts in the digital Renminbi allows for real-time settlement and programmable transactions, providing a technological edge in the global digital currency competition [2] - This initiative is expected to improve the Renminbi's status in the international monetary system and facilitate cross-border trade by reducing traditional payment complexities and costs [2] Group 3: Currency Risk Management Tools - The People's Bank of China is exploring the promotion of Renminbi foreign exchange futures trading to address increasing currency risk faced by enterprises due to global market volatility [4] - There has been a notable increase in the number of A-share listed companies engaging in hedging activities, with a 12% rise in related announcements from January to May 2025 compared to the same period in 2024 [4][5] - The demand for more flexible and cost-effective foreign exchange risk management products is growing, particularly among small and medium-sized enterprises [6] Group 4: Cross-Border Investment and Financing - The State Administration of Foreign Exchange has released a draft notice to deepen reforms in cross-border investment and financing, which includes a package of facilitation policies [7] - The notice aims to streamline foreign direct investment processes and enhance the efficiency of capital utilization, thereby accelerating investment implementation [7] - Specific measures include raising the foreign debt facilitation quota for qualified high-tech and specialized small and medium enterprises to the equivalent of 1 million USD and 2 million USD respectively [7]
重磅!外汇局拟施行一揽子新政
Jin Rong Shi Bao· 2025-06-18 08:58
Core Viewpoint - The State Administration of Foreign Exchange (SAFE) has drafted a notice to deepen the reform of foreign exchange management for cross-border investment and financing, aiming to optimize the business environment and support high-quality economic development [1] Group 1: Cross-Border Investment Policies - The notice cancels the registration of basic information for foreign direct investment (FDI) pre-investment expenses, allowing foreign investors to open accounts directly at banks without prior registration [2] - Foreign investment enterprises can now reinvest in China without the need for registration, streamlining the process and improving efficiency [3] - The notice clarifies that foreign exchange profits generated by foreign investment can be reinvested domestically, providing a clear policy basis for foreign enterprises [3] Group 2: Financing for High-Tech and Specialized Enterprises - The notice raises the foreign debt facilitation limit for high-tech, "specialized and innovative," and technology-based small and medium-sized enterprises to the equivalent of $1 million, with certain qualified enterprises able to access up to $2 million [4][5] - The simplification of signing and registration requirements for cross-border financing will reduce financial costs and improve financing efficiency for enterprises [6] Group 3: Real Estate Sector Adjustments - The notice reduces the negative list for capital project income usage, allowing foreign exchange income to be used for purchasing non-self-occupied residential properties [7] - The notice facilitates the process for foreign individuals to exchange funds for property purchases in China, allowing them to complete transactions without prior registration [8]