Lates News

Foreign Exchange Administration: By 2025, the quality and efficiency of foreign exchange management services for the real economy have significantly improved. A total of 28 measures were introduced under three "package" policies, and since the implementation of policies in the fourth quarter of last year, over 220 billion US dollars worth of related facilitation services have been processed nationwide. This includes supporting new trade formats such as cross-border e-commerce to facilitate online foreign exchange transactions for a total of over 1 billion transactions, serving over 1.8 million small and micro merchants. Banks participating in foreign exchange exhibition industry reform will be expanded to 30. Including businesses under the exhibition industry reform, cross-border payments and receipts totaling 2.3 trillion US dollars will be processed with a "waiver approval" based on corporate orders by 2025, an increase of 33% compared to 2024. The foreign exchange market transaction volume will reach 42.6 trillion US dollars in 2025, and the corporate foreign exchange hedging ratio will increase to 30%, both reaching historical highs.