China expands opening-up in cross-border trade, investment in pilot zones
China has adopted high-level opening-up measures in cross-border trade and investment in several pilot zones, while stepping up risk prevention, control and oversight, said China's foreign exchange regulator on Tuesday.
The country will expand cross-border investment and financing channels for companies in designated pilot zones in Shanghai, Guangdong, Hainan and Zhejiang, according to the State Administration of Foreign Exchange (SAFE).
Micro, small and medium-sized high-tech companies will be granted a quota to borrow money from overseas, and the country will steadily and prudently experiment with cross-border asset transfer businesses, said the SAFE.
In terms of risk prevention and control, China will strengthen monitoring and early warning of cross-border capital-flow risks, carry out counter-cyclical adjustment and crack down on illegal activities to maintain stability and order in the country's foreign-exchange market, it said.
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