PBOC issues draft guidelines on imrpoving cross-border yuan policy

Dhwani Mehta FXStreet

The People’s Bank of China (PBOC) issued draft guidelines on improving cross-border yuan policy, stabilizing foreign investment and foreign trade, with the key highlights found below (via Reuters).

Will support banks to provide yuan payment services for cross-border e-commerce companies.

Will relax restrictions on use of yuan income under some capital account categories.

Will remove restrictions on yuan funds reinvestment by some foreign-funded firms.

Will improve overseas yuan borrowing business management by domestic firms.

Will improve overseas yuan lending business management by domestic firms.

Will support individuals to conduct cross-border yuan business.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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