Four provinces such as Guangdong can store some of their export income abroad

This is a major breakthrough in China's easing of foreign exchange controls, this in the convenience of enterprises, but also conducive to the balance of payments adjustment "Caixin Network" (reporter Horon) from October 1 onwards, Beijing, Guangdong (including Shenzhen), Shandong (including Qingdao), Jiangsu Province, four provinces and cities of the export enterprises can choose to deposit part of the export income abroad.　　August 27, the State administration of Foreign Exchange (hereinafter referred to as safe) issued the "Foreign policy on the export of exports in some areas of the pilot notice" provisions, four provinces and cities export enterprises to deposit overseas pilot period of one year. This is a major breakthrough in China's easing of foreign exchange controls.　　Prior to this, the safe management of export enterprises, without the approval of foreign exchange regulatory authorities, the domestic institutions will be the foreign exchange of income privately stored outside, is regarded as "evasion".　　Safe is of the opinion that for enterprises with more frequent cross-border trade, export income can help to reduce cross-border transfer costs and exchange cost of foreign exchange funds, promote the efficiency of capital use, reduce the cost of financing abroad, and also enrich the balance of payments adjustment means. August 27 issued at the same time, "goods trade export income storage overseas Management pilot measures" (hereinafter referred to as "the pilot Scheme"), the qualification of the pilot enterprises to make strict requirements, the enterprise import and export scale, with export income to store the real demand outside, and the financial situation and good faith records.　　A willing and qualified enterprise, with the approval of the local Foreign Exchange Administration Branch, may participate in the pilot. The foreign authority manages the scale of the total amount of foreign capital deposited by domestic enterprises.　　During the pilot period, the total number of pilot enterprises approved by each pilot branch shall not exceed 10, and the total annual income of each enterprise shall not exceed a certain proportion of its total annual export income, which is determined and adjusted according to the actual situation of the pilot branch in accordance with the relevant provisions of the pilot scheme. Income deposited abroad may be used for trade in goods and for foreign payment of part of the service trade, and for capital items approved or registered by the Exchange office.