State Administration of Foreign Exchange Introduces Various Facilitation Policies; Experts Interpret

Wang Kai, chief analyst of Guosen Securities Strategy, said that the development of new trade formats such as cross-border e-commerce cannot be separated from the improvement of cross-border fund turnover efficiency. These targeted policies are a concrete manifestation of "facilitation" in the field of cross-border financial services. Detailed policies target various aspects such as fund collection and payment, procedures, exchange, and account management in cross-border trade, helping to further improve the capital utilization and business efficiency of foreign trade enterprises, and expand their business scale. Wang Kai said that as a result, research institutions and technology-based companies will attract international capital and advanced technology more effectively, continuously supporting technological innovation; the fund pool policies of multinational companies will continue to improve fund operation efficiency, providing more convenient financial services for foreign-funded enterprises in China; the issuance of new Qualified Domestic Institutional Investor (QDII) quotas orderly meets the reasonable demand of domestic entities for overseas investment. These policies working together will further stimulate market vitality, promote the depth and breadth of international cooperation, and demonstrate China's firm determination to continuously expand opening up to the outside world.