The branches of the State Administration of Foreign Exchange in all provinces, autonomous regions, municipalities directly under the Central Government and cities separately listed on the State plan, and all national Chinese-funded banks:

In order to support the stable development of foreign trade and effectively improve the quality and efficiency of foreign exchange services for the real economy, the State Administration of Foreign Exchange has decided to further deepen the reform of trade and foreign exchange management to facilitate market operators to handle cross-border trade business. The relevant matters are hereby notified as follows:

1. expanding cross-border trade high-level open pilot areas in

the

supports regions with real needs, good compliance status of business entities and in line with the national strategic development direction. After completing the relevant reporting procedures, the pilot project of high-level opening of cross-border trade will be implemented in accordance with the regulations.

to 2. broaden cross-border trade high-level open pilot netting business types.

When high-quality enterprises in the pilot areas of high-level opening of cross-border trade carry out current account foreign exchange business with the same overseas counterparty, eligible prudential compliance banks in the pilot areas can handle netting settlement for high-quality enterprises under controllable risks, and declare actual receipt and payment data and restored data in accordance with relevant regulations on foreign-related revenue and expenditure management information declaration.

(I) the net settlement of the general trade balance between domestic and foreign related enterprises.

The net settlement of income and expenditure on (II) payment for goods and the costs related to trade and transportation of goods, storage costs, maintenance costs, compensation and other current expenses.

The net settlement of income and expenditure between the (III) sales payment and the related sales rebate.

(IV) the net settlement of income and expenditure between transportation-related expenses such as freight, premiums, customs clearance fees, dispatch fees, demurrage fees, etc.

(V) other circumstances as prescribed by the SAFE.

3. simplification of

high-quality TNC current account funds centralized collection and netting procedures.

The

Prudential Compliance Bank is the host enterprise and member enterprise of the capital pool of multinational companies. When handling the centralized collection and payment of current account funds and the net settlement of the margin, if the following conditions are met, the high-quality enterprise trade foreign exchange balance facilitation policy (Hereinafter referred to as the trade facilitation policy) or the high-level opening pilot measures for cross-border trade (hereinafter referred to as the high-level opening pilot) may be applied:

(I) banks may carry out trade facilitation policies or high-level open pilot projects after filing.

(II) TNC pool sponsors have registered for current account concentration and rolling settlement of income and expenditure. In principle, the host enterprise is a high-quality enterprise with a trade facilitation policy or a high-level open pilot (if the host enterprise is a financial company or has no trade-related foreign income and expenditure, it may not be a high-quality enterprise as mentioned above).

The member enterprises of the

(III) TNC pool are, in principle, high-quality enterprises with trade facilitation policies or high-level open pilot projects.

When handling the above-mentioned business,

multinational companies shall abide by the relevant provisions of the trade facilitation policy or the high-level opening pilot, and indicate "trade facilitation pilot" or "high-level facilitation pilot" in the postscript of foreign-related income and expenditure declaration transactions ". When a multinational company handles the netting of current account rolling, in principle, the netting of the current account is not less than once per natural month.

4. convenience high-quality enterprises foreign-related employee compensation in foreign exchange

the

allows prudential compliance banks to approve the amount of exemption documents for foreign-related employees identified by enterprises in accordance with the trade facilitation policy or the remuneration-related materials provided by high-quality enterprises with high-level open pilot projects, and individual foreign-related employees can purchase and pay or collect and settle foreign exchange at the bank within the approved amount without submitting documents. Banks should mark "pilot remuneration for trade facilitation" or "pilot remuneration for high-level facilitation" in the remarks column for purchase/settlement of foreign exchange ".

banks should formulate exclusive plans for supporting enterprises, clarify the scope of applicable foreign-related employees and their salary payment arrangements, do a good job in the dynamic management of the amount of foreign exchange purchase and payment or settlement, and establish a relevant management mechanism after the event.

5. encourages more new trade formats to be included in the facilitation policy scope in

supports prudential and compliant banks to include honest and trustworthy cross-border e-commerce platforms and foreign trade integrated service enterprises with good compliance operations, as well as honest customers served by the cross-border e-commerce platform (foreign trade integrated service enterprises) and recommended by them, into trade facilitation policies or high-level open pilot projects.

When handling cross-border e-commerce, market procurement trade, foreign trade comprehensive services and other related trade foreign-related income and expenditure,

banks shall indicate "cross-border e-commerce", "market procurement trade" or "foreign trade comprehensive services" in the postscript of foreign-related income and expenditure declaration transactions ".

6. optimization of foreign trade comprehensive service enterprise foreign exchange fund settlement

banks can use the transaction electronic information pushed by foreign trade comprehensive service enterprises to handle cross-border e-commerce collection and settlement of foreign exchange for foreign trade comprehensive service enterprises and their entrusted customers, and to pay for warehousing, logistics, taxation and other related expenses incurred in the export of goods abroad; also The above-mentioned storage, logistics, taxation and other related expenses can be settled with the export payment, at the same time, the actual receipt and payment data and the restoration data shall be declared in accordance with the relevant provisions on the declaration of foreign-related income and expenditure management information. The relevant entities shall meet the following requirements:

(I) banks meet the conditions of customer identification, transaction electronic information collection, authenticity verification, etc., and register current account income and expenditure with the foreign exchange bureau in accordance with regulations.

(II) foreign trade comprehensive service enterprises sign comprehensive service contracts (agreements) with entrusted customers to provide comprehensive services such as customs declaration and inspection, logistics, tax refund, settlement, credit insurance and so on.

(III) foreign trade comprehensive service enterprise risk control system is sound, with "transaction marks, risk control" and other technical conditions.

(IV) foreign trade comprehensive service enterprises shall clearly indicate the actual transaction exchange rate to the entrusted customers, and shall not make illegal profits by using the exchange rate difference.

foreign trade comprehensive service enterprises shall apply the above provisions to the business of collecting and paying foreign exchange on behalf of their clients.

7. Relaxation of Service Trade Forwarding Business Management in

after verifying the authenticity and reasonableness of the business, the

bank can handle the following trade-related service fees for domestic institutions:

(I) the transportation, warehousing, maintenance, customs declaration, inspection, taxation, insurance and other expenses of goods between domestic and foreign institutions with trade.

(II) domestic international delivery companies, logistics companies, and cross-border e-commerce platform companies to prepay customers for overseas warehousing, logistics, and taxation related to cross-border e-commerce.

In principle, the above-mentioned expenses shall not exceed 12 months, and more than 12 months shall be reported to the local foreign exchange bureau. The bank shall indicate in the postscript of the foreign-related income and expenditure declaration transaction "the advance of trade-related service expenses".

8. Convenient Contracting Enterprises Overseas Funds Centralized Management in

Domestic enterprises that carry out contracted engineering projects in multiple countries (or regions) may open a centralized fund management account overseas after the local foreign exchange bureau has handled the overseas registration of foreign exchange deposits for trade in services, for cross-border and cross-regional centralized management and deployment Overseas contracted project funds. Among them, the income scope of the centralized management account of overseas funds for contracted projects is the transfer of relevant project funds from overseas owners or domestic, the transfer of funds from the accounts of overseas contracted projects, and other income that meets the regulations of the Foreign Exchange Bureau; the scope of expenditure is the transfer of project funds to domestic projects, the expenditure of relevant overseas projects, the transfer of funds to the accounts of overseas contracted projects, and other expenditures that meet the regulations of the Foreign Exchange Bureau.

enterprises shall formulate internal norms for the centralized management of funds as required, and report to the local foreign exchange bureau within 5 working days after each quarter the main income and expenditure information and account balance of the centralized management account of overseas funds, as well as the use of funds for related foreign contracted projects.

9.Improving the Disposal Mechanism for Special Foreign Exchange Business under Current Account

banks shall establish a system for the disposal of special foreign exchange operations under current account and report in writing to the local foreign exchange bureau in advance. For current account foreign exchange business of domestic institutions with real and legal trading background, banks should adhere to the audit principle of "substance over form", handle it in accordance with the current account special foreign exchange business disposal system, and indicate "special foreign exchange business disposal of domestic institutions" in the postscript of foreign-related income and expenditure declaration transactions ".

When handling foreign exchange business as stipulated in this circular,

banks shall strictly implement the responsibility of the exhibition industry, carry out the examination of the authenticity of transactions, screen and intercept abnormal transactions through the event, and report in a timely manner. The State Administration of Foreign Exchange and its branches shall supervise and manage the foreign exchange business of banks in accordance with the provisions of this Circular, and carry out monitoring and verification of the authenticity and compliance of current account foreign exchange receipts and payments.

This Notice shall be implemented as of the date of promulgation. The Notice of the State Administration of Foreign Exchange on Supporting the Development of New Trade Formats (No. 11 [2020] of the State Administration of Foreign Exchange) shall be repealed simultaneously. If the previous provisions are inconsistent with this notice, this notice shall prevail. Upon receipt of this Circular, the branches of the State Administration of Foreign Exchange shall promptly transmit it to the branches of the mainland (city), urban commercial banks, rural commercial banks, foreign-funded banks and rural cooperative banks under their jurisdiction. All national Chinese-funded banks shall promptly forward them to their subordinate branches. In case of any problems in the implementation, please give feedback to the State Administration of Foreign Exchange in a timely manner.

is hereby notified.

State Administration of Foreign Exchange
October 28, 2025