State Administration of Foreign Exchange: We will continue to steadily expand institutional opening-up in the foreign exchange field

Xinhua News Agency, Beijing, August 2 (Reporter Liu Kaixiong) On August 2, it was learned from the State Administration of Foreign Exchange that in the second half of this year, the foreign exchange management department will continue to steadily expand the institutional opening-up in the foreign exchange field.

At the exchange meeting on foreign exchange management in the second half of 2026 recently held by the State Administration of Foreign Exchange, it was clarified that it will promote trade facilitation reform, introduce a package of measures to optimize current account foreign exchange management, comprehensively promote high-level opening up of foreign exchange revenue and expenditure facilitation policies for cross-border trade, support the development of new trade forms such as cross-border e-commerce, optimize the settlement of foreign exchange funds for service trade, and do a good job in supporting the development of intermediate goods trade.

In order to promote high-level opening up of capital accounts in an orderly manner, the foreign exchange management department will launch a package of cross-border investment and financing facilitation policies, promote the centralized operation of domestic and foreign currency cross-border funds of multinational corporations nationwide, issue regulations on foreign exchange management of domestic and foreign exchange loans, and prudently expand the interconnection of financial markets.

In the second half of the year, the foreign exchange management department will continue to optimize foreign exchange services for technology enterprises and small and medium-sized enterprises, continue to promote the reform of bank foreign exchange expansion, deepen the development of the foreign exchange market, and promote multi-party cooperation to reduce the cost of currency hedging for small and medium-sized enterprises.

In terms of supporting regional open development, the conference explicitly supports the construction of the Shanghai International Financial Center, improves foreign exchange management, implements the strategy plan for upgrading the pilot free trade zone, and supports innovation in foreign exchange management in regions such as Hainan Free Trade Port.

In terms of preventing external risks, the meeting emphasized the need to build strong external impact "breakwaters" and "wave barriers". Strengthen monitoring of cross-border capital flows, continuously improve macro prudential management and expectation management, and implement comprehensive measures to maintain stability in the foreign exchange market.