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Foreign exchange bureau expands foreign debt facil
Published:3/20/2020 3:04:24 PMViews: 74
The reporter learned from the State Administration of foreign exchange on March 19 that in order to further implement the requirements of the 19th National Congress of the Communist Party of China on accelerating the construction of a new open economic system with a higher level and promoting high-quality economic development, and further facilitate small and medium-sized micro high-tech enterprises to make full use of two markets and two kinds of resources at home and abroad, the foreign exchange bureau decided to expand the foreign debt facilitation test point from Beijing to Shanghai and Hubei Guangdong and Shenzhen.
In 2016, the people's Bank of China and the State Administration of foreign exchange established a full caliber macro Prudential management policy framework for cross-border financing and cancelled the prior approval of foreign debts, greatly facilitating cross-border financing of domestic institutions. In recent years, with the further implementation of the new development concept, a large number of innovative enterprises with independent intellectual property rights, advanced technology and technology, and good market prospects have emerged. Some innovative enterprises, especially small and medium-sized micro invasive new enterprises, have small net assets at the early stage of growth, and the upper limit of cross-border financing line is low, so some financing needs are difficult to be fully met. In order to encourage innovation and support the healthy development of small and medium-sized high-tech enterprises, in 2018, the Foreign Exchange Bureau launched a foreign debt facilitation pilot in Zhongguancun national independent innovation demonstration zone of Beijing, allowing small and medium-sized high-tech enterprises that meet certain conditions to independently borrow foreign debt within a certain amount. This pilot policy better meets the overseas financing needs of some small and medium-sized micro high-tech enterprises in Zhongguancun, and reduces the financial cost of enterprises.
It is understood that the above foreign debt facilitation pilot area will be expanded to Shanghai (free trade pilot area), Hubei (free trade pilot area and Wuhan East Lake New Technology Development Zone), Guangdong and Shenzhen (Guangdong, Hong Kong and Macao Bay Area), etc. At the same time, further improve the foreign debt facilitation level of Haidian Park, Zhongguancun Science City, Beijing.
Next, the safe will continue to follow the decision-making and deployment of the CPC Central Committee and the State Council, stabilize the basic foreign trade and foreign capital market, launch more foreign exchange facilitation businesses, continue to optimize the foreign exchange business environment, and promote stable and healthy economic and social development. At the same time, we will further improve the two in one management framework of "macro Prudential + micro regulatory" in the foreign exchange market, actively prevent cross-border capital flow risks, and keep the bottom line of no systemic financial risks.