Core Viewpoint - The State Administration of Foreign Exchange (SAFE) has released a draft notification aimed at further facilitating foreign exchange fund settlement and supporting stable development in foreign trade, consisting of two main categories of policies [1] Group 1: Expansion of Policies - The notification proposes to expand the scope of high-level open pilot areas for cross-border trade, allowing more regions with actual needs and adequate risk management capabilities to implement these policies [1] - It encourages banks to include more cross-border e-commerce platforms and foreign trade service enterprises, as well as their small and micro e-commerce clients, under the favorable foreign exchange policies for trade [1] - The notification aims to broaden the types of netting settlement businesses in high-level open pilot areas for cross-border trade [1] Group 2: Optimization of Foreign Trade Management - The notification seeks to optimize foreign exchange fund settlement for foreign trade service enterprises, allowing banks to shift from traditional transaction review methods to using electronic information such as orders and logistics for facilitating foreign exchange transactions [1] - It simplifies the procedures for multinational companies regarding the centralized receipt and payment of current account funds and netting settlement [1] - The notification also facilitates the foreign exchange use for salaries of foreign-related employees in quality enterprises [1]

Core Viewpoint - The State Administration of Foreign Exchange (SAFE) has released a draft notice aimed at further facilitating foreign exchange fund settlement to support stable foreign trade development, proposing nine policies across two main areas [1] Group 1: Expansion of Existing Policies - The draft notice proposes to expand the scope of high-level open pilot areas for cross-border trade, allowing implementation in more regions that meet specific needs and risk management capabilities [1] - It encourages banks to include more cross-border e-commerce platforms and foreign trade service enterprises, as well as their small and micro e-commerce clients, under the favorable foreign exchange policies for quality enterprises [1] - The notice aims to broaden the types of net settlement businesses in high-level open pilot areas for cross-border trade [1] Group 2: Optimization of Foreign Trade Foreign Exchange Management - The draft notice seeks to optimize foreign exchange fund settlement for foreign trade service enterprises, allowing banks to shift from traditional transaction review methods to using electronic information such as orders and logistics for easier fund settlement [1] - It simplifies the procedures for multinational companies regarding the centralized receipt and payment of current account funds and net settlement [1] - The notice facilitates the use of foreign exchange for salaries of foreign-related employees in quality enterprises [1]