State Administration of Foreign Exchange: Optimizing Trade Foreign Exchange Business Management and Improving the Quality and Efficiency of Serving the Real Economy

On April 7th, the State Administration of Foreign Exchange recently issued a notice on further optimizing the management of trade foreign exchange business, optimizing foreign exchange business processes, further promoting cross-border trade facilitation, and effectively improving the quality and efficiency of serving the real economy. The notice will be implemented from June 1, 2024. The Notice consists of six policy measures, mainly including three aspects: firstly, optimizing the registration management of foreign trade enterprise directories. The second is to facilitate the settlement of cross-border trade foreign exchange receipts and payments for enterprises. The third is to clean up and integrate the foreign exchange management regulations for goods trade.