China News Service, January 4th. On the 4th, the State Administration of Foreign Exchange held the 2023 National Foreign Exchange Management Work Conference in the form of video, summarizing the 2022 foreign exchange management work, analyzing the current financial and foreign exchange situation, and studying and deploying key tasks in 2023.

The meeting requested that in 2023, it is necessary to steadily and orderly promote the high-level opening of the capital account, and improve the pilot project of the integrated capital pool of local and foreign currencies for multinational companies.

  The meeting emphasized that in 2023, foreign exchange management work must adhere to the principle of seeking progress while maintaining stability, maintaining integrity and innovation, fully implementing the new development concept, accelerating the construction of a new development pattern, and deepening the reform and opening up of the foreign exchange field to promote high-quality development in accordance with the requirements of "six better overall plans". , prevent external shocks and risks, keep the bottom line of safety, ensure the safety, flow, and value preservation and appreciation of foreign exchange reserve assets, and provide strong support for the comprehensive construction of a socialist modern country to start a good start.

  The meeting deployed the key tasks of foreign exchange management in 2023.

One is to persevere in promoting comprehensive and strict governance of the party.

Deeply understand the decisive significance of the "two establishments", resolutely implement the decision-making and deployment of the Party Central Committee, continue to consolidate and deepen the results of the central inspection and rectification, persevere in implementing the spirit of the eight central regulations, and continue to deepen the rectification of the "four winds".

Strengthen the construction of grassroots party organizations and build a team of loyal, clean, responsible and professional cadres.

  The second is to deepen reform and opening up in the field of foreign exchange.

Steadily and orderly promote the high-level opening up of capital accounts, and improve the pilot project of the integration of local and foreign currency capital pools for multinational companies.

Expand the coverage of high-quality enterprises' trade foreign exchange receipts and payments facilitation policies, and support the innovative and standardized development of new trade formats.

Optimize the exchange rate hedging services for small, medium and micro enterprises, and explore and enrich the application scenarios of cross-border financial service platforms.

Innovate and optimize foreign exchange management policies, and actively serve the country's major regional development strategies.

  The third is to prevent the risk of cross-border capital flow.

Strengthen the monitoring and analysis of the foreign exchange situation, strengthen macro-prudential management and guidance of expectations, and enrich the macro-prudential policy toolbox.

Improve the micro-supervision of the foreign exchange market, and accelerate the establishment of an authenticity management mechanism that is "authentic in substance, diverse in methods, conscientious and exempt from responsibility, safe and efficient."

Strengthen off-site capacity building, and severely crack down on illegal foreign exchange activities.

  The fourth is to improve the operation and management of foreign exchange reserves.

Promote the construction of professional investment capabilities, technological operation capabilities, and market-oriented institutional governance capabilities to ensure the safety, flow, and value preservation and appreciation of foreign exchange reserve assets.

  The fifth is to consolidate the basic work of foreign exchange management.

Strengthen the legal construction of foreign exchange management, build a high-level balance of payments statistical system, deepen the construction of "digital foreign exchange management" and "safe foreign exchange management", and improve the level of foreign exchange research.

(China New Finance and Economics)