On August 2, 2026, the State Administration of Foreign Exchange clarified the overall deployment of foreign exchange management work in the second half of the year, launching a series of measures in expanding institutional openness, facilitating cross-border trade investment and financing, serving small and medium-sized enterprises, and preventing cross-border financial risks, balancing open innovation and market stability, and consolidating the foundation of foreign-related economic development.

Expansion and opening measures

This deployment focuses on the two-way opening of trade and capital projects, fully implementing policies to facilitate cross-border trade and foreign exchange receipts and payments, supporting the development of new formats such as cross-border e-commerce and intermediate goods trade, and optimizing the service trade foreign exchange settlement system. At the same time, cross-border investment and financing facilitation measures will be launched, and the centralized operation mode of cross-border funds in domestic and foreign currencies of multinational corporations will be promoted nationwide. The management rules for domestic and foreign exchange loans will be improved, and the channels for financial market interconnection will be steadily expanded. In addition, we will continue to optimize the foreign exchange services for science and technology innovation and small and medium-sized enterprises, and reduce the cost of currency hedging for small and micro enterprises. Keywords: open foreign exchange system, cross-border financial risk control

Maintain a stable risk bottom line

The foreign exchange management department will simultaneously strengthen regional empowerment and risk prevention and control, provide targeted support for the construction of the Shanghai International Financial Center, and promote innovative foreign exchange management pilot projects in the pilot free trade zone and Hainan Free Trade Port. At the same time, we will continue to strengthen the dynamic monitoring of cross-border capital flows, improve macro prudential and market expectation management mechanisms, comprehensively resist external market shocks, and maintain the smooth and orderly operation of the foreign exchange market.Editor/Min Jing