Chengdu-chongqing foreign debt facilitation trial was officially launched

2022-05-04 0 By

On March 14, the Chengdu branch of People’s Bank of China (PBOC) learned that the Sichuan Branch of the State Administration of Foreign Exchange (SAFE) and the Chongqing Foreign Exchange Management Bureau jointly formulated and printed the Operation Guidelines for the Chengdu-Chongqing Foreign Debt Facilitation Pilot Business (Trial)(Draft), which officially launched the pilot business.The foreign debt facilitation pilot includes the following four main contents: first, the qualified non-financial enterprises in Chengdu-Chongqing region are allowed to carry out the one-off foreign debt registration management reform pilot according to the operation guidelines for the foreign debt registration management reform pilot business of non-financial enterprises;The second is to allow transnational corporations registered by Sichuan Branch or Chongqing Foreign Exchange Administration Department to choose qualified banks as cooperative banks for centralized cross-border capital operation in Different places of Chengdu and Chongqing.Third, the qualified enterprises registered in Chengdu-Chongqing area are allowed to sign, change and cancel foreign debt registration in chengdu-Chongqing;Fourth, qualified enterprises registered in Chengdu-Chongqing region are allowed to handle foreign debt non-capital transfer foreign debt withdrawal and principal and interest repayment record in other places of Chengdu-Chongqing.The pilot program of foreign debt facilitation in Chengdu-Chongqing region is an important measure taken by safe to support the construction of twin-city economic circle in Chengdu-Chongqing region and promote the rapid development of foreign-related economy in chengdu-Chongqing region. It is the first cross-regional foreign debt facilitation program implemented in China and an important innovative measure to explore the integration of regional foreign exchange management.The implementation of the above pilot policies will greatly facilitate qualified enterprises in Chengdu-Chongqing to transregional cross-border financing and centralized operation of cross-border funds of multinational companies in Chengdu-Chongqing region, which is conducive to promoting enterprises in Chengdu-Chongqing region to deeply integrate into both international and domestic markets and make full use of low-cost capital at home and abroad to serve the real economy.It is conducive to the establishment of capital centers, financing centers and settlement centers in Chengdu-Chongqing by qualified multinational companies, providing effective support for the construction of western financial centers.Next, the State Administration of Foreign Exchange bureau of sichuan province and chongqing foreign exchange management department in accordance with requirements of the State Administration of Foreign Exchange, strengthen policy propaganda promotion, well coordinated supervision, actively promote the pilot policies to speed up the ground, fully release the dividend policy, promote foreign exchange management better service Yu Chengyu area construction of shuangcheng economic circle.