optimizing foreign exchange management under the capital account and...
title: optimizing foreign exchange management under the capital account and facilitating cross-border investment and financing
general secretary xi jinping has emphasized that finance is one of the matters of national significance and is crucial to achieving chinese modernization. the capital account is an important area of china's financial reform and opening-up, as well as the building of a financially robust country. we should focus on increasing the supply of facilitation policies and services, controlling the pace of opening-up, improving the quality of opening-up, and better serving chinese modernization through the high-quality development of foreign exchange administration. recently, to facilitate enterprises, individuals, and other entities in handling foreign exchange business under the capital account, the state administration of foreign exchange (safe) has widely solicited views and suggestions from market participants. based on their feedback, the safe has revised and released the guidelines for the foreign exchange business under the capital account (2024) (hereinafter referred to as the new version of the guidelines). the new version of the guidelines covers emerging and cross-sector businesses in areas such as direct investment, cross-border financing, and securities investment. it provides important guidance and authoritative references for handling foreign exchange business under the capital account, thereby further facilitating cross-border investment and financing.
