Seven departments: expand the scale of RMB settlement for cross-border trade and support eligible enterprises to carry out pilot projects for cross-border fund pooling business.

The People's Bank of China and six other departments jointly issued the "Guiding Opinions on Financial Support for the New Industrialization," aiming to improve the convenience of cross-border financial services and expand the space for high-level two-way opening development. The guidance includes optimizing the supply of financial products and services for manufacturing industry foreign trade, launching special actions for small and medium-sized enterprises to go global, enhancing the convenience of current account transactions, ensuring enterprise safe and efficient cross-border trade settlement, expanding the scale of RMB settlement in cross-border trade, promoting high-quality enterprise trade facilitation policies, supporting eligible enterprises to conduct pilot cross-border cash pooling business, facilitating the transfer and use of domestic and foreign funds, increasing export credit insurance and credit allocation in the field of foreign trade, promoting the publicity and policy support for foreign exchange hedging business, enhancing the risk management capabilities of enterprises going global in terms of exchange rate risk, expanding the scope of pilot facilitation of cross-border financing for high-tech enterprises, specialized and new small and medium-sized enterprises, and technology-based small and medium-sized enterprises, expanding the scope of pilot projects for reinvestment of foreign-funded enterprises without registration, facilitating foreign-funded enterprises to conduct domestic equity investment, optimizing and improving the trial operation rules for qualified overseas limited partners, improving the negative list for the use of capital project income, and enhancing the efficiency of enterprises in utilizing foreign investment.