State Administration of Foreign Exchange: Facilitate foreign individuals to make payments for domestic real estate purchases.

The State Administration of Foreign Exchange issued a notice regarding the deepening of reforms in cross-border investment and financing foreign exchange management. The notice proposes facilitating foreign individuals to make payments for purchasing homes within the country. Foreign individuals who meet the qualifications set by the real estate regulatory authorities and local purchasing requirements can, before obtaining the filing proof of purchase from the real estate regulatory authorities, first handle the foreign exchange payment for purchasing a home at a bank with the purchase contract or agreement and later submit the filing proof of purchase to the bank. The facilitation of foreign individuals making payments for purchasing homes within the country does not change the policy for foreign individuals purchasing homes domestically.