State Administration of Foreign Exchange: Expanding Pilot Scope of Cross-Border Financial Blockchain Service Platform

According to the State Administration of Foreign Exchange, on December 13, Comrade Pan Gongsheng, Secretary of the Party Leadership Group and Director of the State Administration of Foreign Exchange, presided over an enlarged meeting of the Party Leadership Group, conveyed the spirit of the Central Economic Work Conference, and studied and deployed measures to implement foreign exchange. The meeting called for serving the real economy and opening up to the outside world to further enhance the level of facilitation of cross-border trade and investment. Considering the economic development stage, financial market conditions, and financial stability requirements as a whole, coordinating the transaction and exchange links, orderly promoting the opening of non-convertible items, and improving the facilitation of already convertible items. Earnestly implement the 12 measures reviewed and approved by the State Council Executive Committee to optimize foreign exchange management and promote cross-border trade and investment facilitation. Support the free trade pilot zones, free trade ports, and other open highlands to try out foreign exchange management reform first. Expand the pilot scope of cross-border financial blockchain service platforms to alleviate the financing difficulties and expensive financing problems of SMEs.