On the 31st, the State Administration of Foreign Exchange issued the "Guidelines for Current Account Foreign Exchange Business (2020 Edition)" to effectively facilitate market entities to handle current account foreign exchange business, so that market entities "understand, use and run smoothly."
This is the first time that my country has systematically sorted out current account foreign exchange policies, and it is also the integration of the achievements of my country's reform and innovation, system improvement, and technological upgrading in the foreign exchange field.
Liu Bin, Pengarah of the Current Account Management Department of the State Administration of Foreign Exchange, introduced that the guidelines cover all current foreign exchange businesses such as trade in goods, trade in services, and individuals, insurance institutions, and payment institutions. 29 regulatory documents have been abolished serentak, and non-essential business processes and materials have been streamlined. , Aims to make market entities "understand, use and run smoothly".
"The guidelines adhere to the principle of convertibility of current accounts, facilitate the handling of true and compliant foreign exchange businesses, and not involve substantial changes or major adjustments to existing policies, and are conducive to creating a long-term stable and predictable institutional environment. " Liu Bin said, the guidelines fully integrate current account foreign exchange Existing business laws and regulations, to realize the current account foreign exchange policy "one book, one text, and clear at a glance" to ensure that the policies and regulations are unified, transparent, concise and clear.
The relevant person in charge of the foreign exchange bureau stated that the foreign exchange bureau will continue to deepen the reform and opening up of the foreign exchange field, revise and update the guidelines in a timely manner according to the progress of foreign exchange management reform, continue to optimize the business environment, stimulate the vitality of market entities, and promote high-quality economic development.
Sumber: Xinhuanet