High-level opening of cross-border trade and investment pilots
Beijing, January 4th (Reporter Ge Mengchao) The reporter learned from the State Administration of Foreign Exchange on the 4th: Recently, with the approval of the State Council, the foreign exchange bureau is located in the Lingang New Area of the Shanghai Pilot Free Trade Zone and the Nansha New Area of the Guangdong Pilot Free Trade Zone. , Hainan Free Trade Port Yangpu Economic Development Zone, Beilun District, Ningbo City, Zhejiang Province, and other regions to carry out high-level open-up pilots for cross-border trade and investment.
It is understood that the pilot policy covers 9 capital account reform measures, 4 current account facilitation measures, and 2 related requirements to strengthen risk prevention and control and supervisory capacity building.
Regarding capital account reforms, first, broaden corporate cross-border investment and financing channels, support small, medium and micro high-tech enterprises to independently borrow foreign debts within a certain amount, and carry out pilot projects for qualified foreign limited partners (QFLP) and qualified domestic limited partners (QDLP) to ensure stability Open up cross-border asset transfer business, and launch pilot projects for multinational companies' integrated domestic and foreign currency fund pools.
The second is to enhance the level of cross-border investment and financing facilitation. Foreign-invested enterprises are exempt from registration for domestic reinvestment. Qualified non-financial enterprises’ foreign exchange registration for capital projects is directly handled by banks. This expands the scope of capital project income funds and allows qualified enterprises to choose independently. Cross-border investment and financing currencies, and moderately increase the upper limit of non-financial enterprises' overseas lending scale.
In terms of current account facilitation, it facilitates the collection and payment of current account funds of high-quality enterprises, supports banks in optimizing new international trade settlements, and orderly expands the scope of trade netting net settlement companies, and special foreign exchange returns for trade in goods are exempt from registration.