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国家外汇管理局:稳步扩大金融市场制度型开放,支持中长期资本入市

The State Administration of Foreign Exchange: Steadily expanding the institutional opening of the financial market, supporting medium- and long-term capital entering the market.

Breakings ·  20:39

The Director of the State Administration of Foreign Exchange, Zhu Hexin, presided over a meeting of the Party Committee (expanded) to convey and study the spirit of the Central Economic Work Meeting, in conjunction with the requirements of the National Financial System Work Meeting, to research and deploy implementation measures. The meeting pointed out that by 2025, the foreign exchange management department should focus on the following work:

First, continuously improve the quality and efficiency of foreign exchange services for the real economy. Promote the reform of banks' foreign exchange operations, creating a foreign exchange policy environment where 'the more honest, the more convenient.' Focus on the financial 'five major articles' centred on scientific and technological innovation enterprises. Support the innovative development of new trade models such as cross-border e-commerce and overseas warehouses, deepen the reform of foreign exchange management for foreign direct investment, and help stabilize foreign trade and foreign investment.

Second, promote deep-level reforms and high-level openness in the foreign exchange sector. Steadily expand the institutional opening of the financial market, supporting the entry of medium to long-term capital. Innovate and optimize foreign exchange management policies in free trade pilot zones, encouraging pioneering and integrated exploration. Actively support the implementation of regional strategies and support the construction of Shanghai and Hong Kong as international financial centers.

Third, prevent and mitigate external shock risks. Improve the 'macro-prudential + micro-regulation' dual management of the foreign exchange market, maintaining the basic stability of the RMB exchange rate at a reasonable and balanced level, and ensuring basic balance in international payments.

Fourth, strengthen and improve foreign exchange regulation. Enhance non-site supervision capabilities, severely crack down on illegal activities such as underground banks in the foreign exchange market, and maintain a healthy order in the foreign exchange market.

Fifth, improve the management of foreign exchange reserves, ensuring the safety, liquidity, and preservation of value of foreign exchange reserve assets.

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