The State Administration of Foreign Exchange recently issued the policy "Further Facilitating Foreign Exchange Fund Settlement to Support Stable Foreign Trade Development" which has been first implemented in Beijing E-Town. This initiative aims to enhance cross-border trade facilitation and foster new momentum in foreign trade.

In Beijing E-Town, the policy has enabled the efficient settlement of a net amount of $6 million for a national high-tech and specialized "little giant" enterprise. This has significantly reduced the company's financial costs and operational complexity, marking the first such foreign exchange settlement for a foreign trade enterprise in Beijing. The Industrial and Commercial Bank of China Beijing E-Town Branch, facilitated the transaction.

In recent years, Beijing E-Town has optimized its foreign trade service system to help enterprises expand into international markets and cultivate new trade momentum. Initiatives include the "New Eight Foreign Trade Measures," the development of foreign trade product manual showcasing local high-quality products and services, and the establishment of the E-Town International Service Trade Cooperation Center. This centre features dedicated cross-border data corridors and AEO service windows, creating a "one-stop" platform for international ventures.

The implementation of this new foreign exchange settlement policy is expected to further enhance trade facilitation in the region, contributing to high-quality foreign trade development.

With the new policy allowing net settlement of offsets, enterprises need to process only a single net settlement. This approach significantly reduces the number of cross-border fund transfers and transaction fees, effectively lowers the risk of exchange rate fluctuations, and improves the efficiency of fund usage and the flexibility of financial management.

Looking ahead, Beijing E-Town plans to continue leading with institutional openness, piloting innovative and pioneering policies to provide a more efficient and convenient international business environment for enterprises looking to expand abroad and attract foreign investment.