CCTV News: Recently, the "Circular of the State Administration of Foreign Exchange on Supporting the Development of New Trade Formats" was released. The contents of the "Notice" mainly include: broadening the settlement channels for new trade formats, facilitating the settlement of funds for export business of cross-border e-commerce, and optimizing the cross-border substitution of taxes and fees related to cross-border e-commerce.
The relevant person in charge of the Foreign Exchange Bureau said that the "Notice" optimizes the foreign exchange settlement mode of the new trade format, expands the scope of account receipts and expenditures, promotes more business online processing, and reduces the overall cost of market entities while improving cross-border settlement efficiency.