Xinhua News Agency, Beijing, December 8 (Reporter Liu Kaixiong) The State Administration of Foreign Exchange issued a notice on the 8th, focusing on promoting high-level financial opening-up and promoting cross-border investment and financing facilitation. The circular includes a total of 9 policy measures, including 4 current account policy measures and 5 capital account policy measures.
Screenshot of the State Administration of Foreign Exchange**.
With the vigorous development of new forms and models of foreign trade and the increasing diversification of cross-border investment and financing activities, market operators have new and more demands for foreign exchange facilitation. Wang Chunying, deputy director and spokesman of the State Administration of Foreign Exchange, said that the State Administration of Foreign Exchange summarized the experience of the previous pilot, systematically sorted out the relevant foreign exchange management policies such as foreign exchange receipts and payments, cross-border financing of technology-based enterprises, and foreign direct investment, and on this basis, formulated and issued the notice, and launched 9 policy measures to further deepen the reform of foreign exchange management and promote cross-border investment facilitation.
Wang Chunying introduced that the main policy ideas of the notice are: at the macro level, strengthen and improve the policy supply in the field of foreign exchange, enhance the system integration of policies, deepen reform and opening up around the facilitation of the current account and capital account, and constantly improve the two-in-one management framework of "macro-prudential + micro-supervision" in the foreign exchange market, so as to help build a modern financial system with Chinese characteristics. At the micro level, we will actively promote the stabilization of foreign trade and foreign investment, further optimize the management process, simplify the operation links, facilitate the compliance of market operators to handle cross-border ** and investment and financing business, effectively stimulate market vitality, and better serve the high-quality development of the real economy.
In the next step, the State Administration of Foreign Exchange will optimize foreign exchange services with a focus on supporting scientific and technological innovation and micro, small and medium-sized enterprises, increase policy implementation and work promotion, continue to improve the level of cross-border investment and financing facilitation, promote the stabilization of foreign trade and foreign investment, and better serve the high-quality development of the real economy. Wang Chunying said.