BEIJING — China has amended its regulations on the capital management of transnational companies, according to the State Administration of Foreign Exchange (SAFE).
The new regulation will help promote the liberalization and facilitation of cross-border trade and investment and better serve the country’s real economy, said the SAFE.
According to the file, China will ease the registration management of foreign debt and offshore loans and launch pilot reforms to facilitate foreign exchange settlement and payment in multinational companies after registration.
China will also cancel restrictions that demanded multinational companies cooperate with only a limited number of banks, the document shows.
While promoting the facilitation, strengthened supervision will also be exerted to prevent risks of cross-border capital flow, according to the regulation.