Core Viewpoint - The State Administration of Foreign Exchange (SAFE) has reduced the negative list for the use of capital account income, specifically removing restrictions on the use of foreign exchange income and its converted RMB funds for purchasing non-self-use residential properties [1] Group 1 - The adjustment allows for greater flexibility in the use of foreign exchange income, which may encourage investment in the real estate sector [1] - The removal of restrictions is expected to stimulate demand in the housing market, particularly for non-self-use residential properties [1] - This policy change reflects a broader trend towards liberalizing capital account transactions in China [1]

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]

朱鹤新表示，将统筹发展和安全，坚持深化外汇领域改革开放，推进外汇领域治理体系治理能力现代 化，建立健全"更加便利、更加开放、更加安全、更加智慧"的外汇管理体制机制，坚定不移走中国特色 金融发展之路，为我国经济高质量发展提供更加有力的外汇支持。 新华财经上海6月18日电 6月18日，中国人民银行副行长、国家外汇局局长朱鹤新在2025陆家嘴论坛上 表示，4月以来，我国加大宏观政策逆周期调节力度，有力有效应对外部冲击，外汇市场在复杂严峻形 势下运行总体平稳。未来，我国外汇市场仍有条件保持平稳运行。 第四，在"更加智慧"方面，妥善运用人工智能、大数据等科技手段，提升外汇管理数字化智能化水平。 将加强"智慧外管"建设，为群众和企业提供更加智能高效、安全便捷的外汇服务，同时不断提升风险识 别和业务监管的智能性、精准性、有效性，以先进的科技手段为外汇管理赋能。 第一，在"更加便利"方面，不断完善"越诚信越便利"的外汇政策体系，积极提升外汇服务实体经济质 效。将加强外汇管理改革创新，赋予诚信合规主体更高便利度，持续提升跨境贸易和投融资便利化水 平。 第二，在"更加开放"方面，推动外汇领域高水平制度型开放，助力建设更高水平开放 ...

有人可能不知道美联储是是个什么东西，这么说吧，它是全球一切资产价格波动的发动机。这台发动机有两个主要任务：保证美国物价稳定 （Price Stability），促进国内充分就业(Full Employment)。 美联储这个机构挺起来高大上，运作逻辑也很简单，一帮美国金融学院高材生大佬，没事了坐在一起喝喝咖啡，看看CPI、PCE这些通胀数据 距离2%的目标是不是偏差过大，评估一下国内汽油、楼市、用工成本，另外也会看下非农就业是饱和还是大量萎缩。另外，他们参考ISM、 GDP数据是否健康。 这帮人呢，有一个叫政策工具箱的东西，这玩意可以说是金融市场的"月光宝盒"，能让行情发生瞬移。他们最常见的是常规工具，比如利率 （加息、降息、维稳）、购债（OMO）、贴现窗口（向商业银行提供短期抵押贷款）、存款准备金率等。 如果经济出现红灯或者濒临ICU，美联储会动用一些非常规"核武器"，比如量化宽松（QE）、量化紧缩（QT）、前瞻性指引、紧急贷款工 具。 为什么要跟大家掰扯这些听起来很晦涩的东西?因为这是每次大行情的源头，你们了解一下，就算不参与，能看懂市场，也能获得成就感。接 下来我们重点说下这个利率工具。 最近，中东"千 ...

Core Viewpoint - The People's Bank of China and the State Administration of Foreign Exchange announced a comprehensive package of foreign exchange policies aimed at supporting foreign trade enterprises and facilitating cross-border investment and financing, reflecting a commitment to deepen reforms and serve the real economy [1][7]. Foreign Trade Support - A series of facilitation policies will be implemented to deepen trade foreign exchange business management reform, including optimizing foreign exchange fund settlement for foreign trade comprehensive service enterprises and supporting the centralized management of overseas funds for compliant engineering contracting enterprises [7]. - The new policies will also encourage banks to include more new trade entities in the trade facilitation policy [7]. Cross-Border Investment Facilitation - The package includes measures to support research institutions in attracting foreign investment, expand cross-border financing for technology enterprises, and reduce the negative list for capital project income usage [7]. - The promotion of a cross-border integrated fund pool policy for multinational companies will facilitate the collection and use of funds within the group [7]. QDII Investment Quotas - As of May 31, 2025, the cumulative approved quota for Qualified Domestic Institutional Investors (QDII) reached $167.79 billion, with 189 institutions approved, including banks, securities firms, insurance companies, and trust companies [8]. - A new batch of QDII investment quotas will be issued to meet the reasonable demand for overseas investment by domestic entities [7][8]. Market Resilience - Despite global economic uncertainties, China's foreign exchange market has maintained overall stability, with the RMB appreciating by 1.6% against the USD this year and foreign investment in domestic bonds reaching a net increase of $10.9 billion in April [2][3]. - The foreign exchange market's resilience is attributed to a more mature and rational participation from entities, with the proportion of enterprises using foreign exchange hedging increasing significantly [4]. Regulatory Framework - The foreign exchange management reform emphasizes four key aspects: "more convenient, more open, more secure, and smarter" [4][5]. - The focus on enhancing the foreign exchange policy system will provide stronger support for high-quality economic development [5][6].

宏观日报 | 2025-06-18 关注推动传统制造业转型政策发行 中观事件总览 生产行业：关注推动传统制造业转型相关政策发行。 1）国务院国资委召开国有企业改革深化提升行动2025年第 二次专题推进会。国务院国资委党委委员、副主任李镇在会上表示，国资国企要加大力度推动传统产业高端化智 能化绿色化转型升级。进一步深入应用人工智能、工业互联网、5G等数字技术，推动传统产业转型升级，边远或 技术创新相对滞后的地区，要争取乘势而上，形成后发优势。积极用好国家"两重""两新"有关政策，推动更新升级， 实现"老树发新枝"。2）国家发改委发布消息称，自6月17日24时起，国内汽油价格和柴油价格分别上调260元/吨和 255元/吨。折合升价，92号汽油上调0.20元，95号汽油和0号柴油均上调0.22元。按照油箱容量为50 L的家用轿车为 例，加满一箱92号汽油将多花10元。 服务行业：5月外汇市场稳定。 1）国家外汇管理局副局长、新闻发言人李斌就2025年5月外汇市场形势回答了记 者提问。他表示，5月份企业、个人等非银行部门跨境资金净流入330亿美元。其中，货物贸易资金净流入保持在 较高水平，外资增持境内股票较上月进一步 ...

国家外汇管理局局长朱鹤新6月18日在陆家嘴论坛上表示，将加强外汇管理改革创新，持续提升跨境贸 易和投融资便利化水平；推动银行外汇展业改革，全面优化事前尽职调查、事中差异化审核、事后监测 报告的管理框架；健全外汇管理政策评估机制和外汇生态评估机制，以是否符合国家发展战略定位、是 否符合地方发展实际、是否符合便企利民为标准，不断增强政策含金量。 ...

中国人民银行副行长、国家外汇局局长朱鹤新在2025陆家嘴论坛上表示，国家外汇局将在自贸试验区实 施一揽子外汇创新政策。包括优化新型国际贸易结算、扩大合格境外有限合伙人(QFLP)试点等10项便 利化政策，积极支持自由贸易试验区提升战略。(新华社) ...

一是定位问题对照"靶向"。对标党中央部署要求，结合履行外汇管理职责，全面梳理近年来巡视巡察、 审计监督、调查研究、信访反映的问题，刀刃向内，明确深入查找贯彻中央八项规定及其实施细则精神 方面问题对照清单，为问题查摆工作奠定基础、提供"靶向"。二是推动找准查实问题。对照《违反中央 八项规定及其实施细则精神问题清单》《隐形变异的作风问题清单》及梳理问题，局领导带头从严查摆 问题，通过自我对照检视、听取群众意见等方式，组织各党支部、处级干部及青年党员等认真剖析问题 及具体表现，组织年轻干部对是否存在玩心重、混日子，精神空虚、贪图享乐，社会交往复杂、生活不 检点以及网络言行方面问题进行查摆，形成一揽子问题清单，帮助党员干部清清楚楚掌握"工作差距在 哪里"。三是强化问题整治监督。建立学习教育集中整治台账，明确整改措施和整改责任，推动以点带 面抓实整改。定期督导问题整治情况，避免问题查摆不深不透、集中整治应付了事。聚焦外汇服务重点 领域，持续纠治损害群众利益的不正之风，强化外汇窗口服务高效化、规范化、标准化管理，落实"首 问负责制"，优化服务热线接听、网站留言办理工作流程，更新外汇业务办理指引，进一步提升群众诉 求响应速 ...

Group 1 - The article discusses various forex trading terms and strategies, focusing on automated trading techniques and risk management tools [1][2][4][5][10]. - Auto Split allows traders to break large orders into smaller ones to reduce slippage and avoid platform scrutiny [1]. - Hide Stoploss enables traders to keep their stop-loss levels hidden from the trading platform, preventing manipulation [2]. - Smart TakeProfit dynamically calculates optimal take-profit levels based on various factors, enhancing trading efficiency [4]. - Smart Distance adjusts the distance for adding positions based on market conditions, helping to manage risk effectively [5]. Group 2 - ECN Mode facilitates real market execution by modifying stop-loss and take-profit levels after placing orders, suitable for true ECN accounts [8][10]. - Tick Criterion is a hidden parameter that filters out false breakouts by requiring a certain number of price ticks before executing trades [10]. - Momentum Sell/Buy strategies are employed to capitalize on market movements, entering trades only when significant price action occurs [11][14]. - Prop Firm refers to companies that provide capital for trading, requiring traders to pass assessments under specific conditions [12]. - Strategy Aggressivity adjusts the aggressiveness of trading strategies, impacting trade frequency and risk management [17].