State Administration of Foreign Exchange: Simplify registration and management requirements for facilitating cross-border financing operations.

The State Administration of Foreign Exchange issued a notice on deepening the reform of cross-border investment and financing foreign exchange management. The notice proposes simplifying the registration and management requirements for cross-border financing facilitation services. Enterprises participating in cross-border financing facilitation services will no longer be required to provide financial statements audited for the previous year or the most recent period during the contract registration process.