China expands trials for cross-border trade, investment

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China's State Administration of Foreign Exchange (SAFE) on Friday announced the expansion of pilot programs of high-level opening-up policies for cross-border trade and investment throughout Shanghai, Jiangsu, Guangdong, Beijing, Zhejiang and Hainan.

The move will facilitate more business entities in their conduct of cross-border trade and investment in a compliant manner and promote high-quality development through high-level opening-up.

SAFE announced eight pilot policies concerning current and capital accounts in the six provincial-level regions.

In 2022, SAFE launched high-level opening-up trials for cross-border trade and investment in some areas of Shanghai, Guangdong, Hainan and Zhejiang.

SAFE said it would continue strengthening high-quality financial services, improving its oversight capacity and safeguarding against key systemic risks.

(Cover via CFP)

Source(s): Xinhua News Agency