State Administration of Foreign Exchange: Expanding Facilitation of Cross-Border Financing.

The State Administration of Foreign Exchange issued a notice on matters related to deepening reform of cross-border investment and financing foreign exchange management. The notice proposes to expand cross-border financing convenience. High-tech, specialized and new technology, and technology-based small and medium-sized enterprises nationwide that meet the conditions can borrow foreign debt within a limit not exceeding the equivalent of 10 million US dollars. Among them, enterprises selected by relevant departments based on the "innovation credit system" can borrow foreign debt within a limit not exceeding the equivalent of 20 million US dollars.