Core Viewpoint - The People's Bank of China and the State Administration of Foreign Exchange have issued a notification to facilitate domestic enterprises in raising funds efficiently in overseas financial markets, aligning with the spirit of the 20th Central Committee's Fourth Plenary Session of the Communist Party of China [1][2][3] Summary by Sections Unified Foreign Currency Management Policy - The notification standardizes foreign currency management policies, allowing funds raised from overseas listings, share reductions, or transfers to be repatriated in either foreign currency or RMB. Dividends for H-share "full circulation" listed entities must be distributed in RMB within the domestic market [1][3] Facilitation of Fund Usage and Risk Management - It clarifies that funds raised from overseas listings can be repatriated in foreign currency for autonomous use, and listed entities can independently choose methods for managing exchange rate risks [1][3] Simplification of Management Procedures - The notification simplifies management procedures and relaxes registration time limits, enabling banks to directly assist enterprises with overseas listing registrations and easing the timelines for issuance, additional offerings, and share reductions [1][3] Regulation of Fund Management - It specifies that funds raised from overseas listings and proceeds from share reductions or transfers should generally be repatriated to the domestic market. Any surplus funds from shareholders due to increased holdings or failed transactions should be promptly returned to the domestic market. Certain qualifying enterprises are allowed to retain raised funds for use abroad [1][3] Future Financial Support - The People's Bank of China and the State Administration of Foreign Exchange will continue to enhance financial support for the real economy, optimize cross-border fund management policies, and improve the convenience of cross-border investment and financing to support high-quality economic development [2][3]