On October 19, at the opening ceremony of the 2026 Financial Street Forum, Zhu Hexin, deputy governor of the People's Bank of China and director of the State Administration of Foreign Exchange, said that in recent years, foreign exchange management has incorporated “autonomous enterprise cross-border operation” and “open ecological construction” into the same governance framework, insisting on liberalizing players, improving ecology, expanding openness, improving governance, and better serving the new development pattern. On the one hand, revitalize the main players and make it more autonomous and convenient for enterprises to use foreign exchange. Starting from the comprehensive management needs of enterprises, strengthen the integration of various foreign exchange policies such as trade, investment, and financing, and comprehensively support enterprises to efficiently allocate domestic and foreign capital and carry out cross-border operations. By the end of June this year, there were more than 50,000 companies with excellent credit and exempt from review across the country. In the first half of the year, the foreign exchange business was handled by more than 580 billion US dollars, and the average processing time was reduced by more than half. On the other hand, improve the ecology and create better conditions for enterprises to operate across borders. Pay more attention to efficient collaboration with financial institutions and local governments, improve incentives and restrictions, and exert a “multiplier effect.” Establish a “policy-ecology” dual evaluation mechanism to support regions with mature conditions to try first, promote good experiences throughout the country, and achieve joint optimization of policies and ecology.
Zhitongcaijing · 5d ago
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On October 19, at the opening ceremony of the 2026 Financial Street Forum, Zhu Hexin, deputy governor of the People's Bank of China and director of the State Administration of Foreign Exchange, said that in recent years, foreign exchange management has incorporated “autonomous enterprise cross-border operation” and “open ecological construction” into the same governance framework, insisting on liberalizing players, improving ecology, expanding openness, improving governance, and better serving the new development pattern. On the one hand, revitalize the main players and make it more autonomous and convenient for enterprises to use foreign exchange. Starting from the comprehensive management needs of enterprises, strengthen the integration of various foreign exchange policies such as trade, investment, and financing, and comprehensively support enterprises to efficiently allocate domestic and foreign capital and carry out cross-border operations. By the end of June this year, there were more than 50,000 companies with excellent credit and exempt from review across the country. In the first half of the year, the foreign exchange business was handled by more than 580 billion US dollars, and the average processing time was reduced by more than half. On the other hand, improve the ecology and create better conditions for enterprises to operate across borders. Pay more attention to efficient collaboration with financial institutions and local governments, improve incentives and restrictions, and exert a “multiplier effect.” Establish a “policy-ecology” dual evaluation mechanism to support regions with mature conditions to try first, promote good experiences throughout the country, and achieve joint optimization of policies and ecology.
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