Core Points - The State Administration of Foreign Exchange (SAFE) has issued a notice to enhance the facilitation of cross-border trade and foreign exchange services, aiming to support stable foreign trade development [1][2] - The notice includes measures to optimize and expand pilot programs for high-level cross-border trade openness, covering more regions and types of businesses [1][2] - The initiative aims to improve the efficiency of fund usage for service trade enterprises and reduce financial costs for companies involved in international projects [2] Group 1 - The notice promotes the optimization and expansion of cross-border trade facilitation policies, allowing for a broader range of businesses to benefit from simplified foreign exchange procedures [1] - It encourages banks to adopt more convenient trade fund settlement policies for small and medium-sized enterprises involved in new trade formats, leveraging e-commerce platforms [2] - The SAFE emphasizes the importance of enhancing the efficiency of cross-border fund settlements to better serve the high-quality development of the real economy [2] Group 2 - The notice allows for the direct handling of fund collection and payment for transportation, warehousing, and maintenance fees between domestic enterprises and their trading partners [2] - It supports engineering companies in the centralized allocation of funds across countries and regions, effectively utilizing "idle" funds from overseas projects [2] - The SAFE plans to continue deepening foreign exchange management reforms to further facilitate cross-border trade and improve the quality of cross-border fund settlements [2]

Core Viewpoint - The State Administration of Foreign Exchange (SAFE) has announced new measures to facilitate cross-border trade and enhance the efficiency of foreign exchange services to support stable foreign trade development [1][2]. Group 1: Policy Optimization and Expansion - The notification aims to optimize and expand the pilot programs for high-level cross-border trade openness, covering more regions with genuine needs and compliant business entities [1]. - It broadens the types of net settlement for current account funds for pilot enterprises, supporting the net settlement of service fees related to goods trade, thereby reducing settlement costs [1]. - The procedures for high-quality multinational companies regarding centralized payment and net settlement of current account funds will be simplified, enhancing the effectiveness of foreign exchange facilitation policies [1]. Group 2: Support for New Trade Models - The notification emphasizes the role of quality e-commerce platforms and foreign trade service enterprises in recommending and enhancing credit for small and medium-sized enterprises involved in new trade models [2]. - It encourages banks to shift from traditional document review methods to automated batch reviews based on electronic transaction information provided by foreign trade service enterprises [2]. - A special mechanism for handling current account foreign exchange business will be established for domestic institutions with legitimate transaction backgrounds, focusing on efficiency and practicality [2]. Group 3: Enhancing Fund Utilization Efficiency - The management of service trade advance payment business will be relaxed, allowing domestic enterprises to directly handle related fund payments at banks for transportation, storage, and maintenance fees [2]. - Support will be provided for engineering companies to centrally allocate and utilize funds across countries and regions, effectively mobilizing "idle" funds from overseas projects [2]. - The measures aim to lower financial costs for enterprises and contribute to the high-quality development of the Belt and Road Initiative [2].