Your question is specific to Beijing. I have compiled some information to share with you. The foreign exchange management policy of the Pilot Free Trade Zone is not limited to Beijing. SAFE has been conscientiously implementing the requirements of the CPC Central Committee and the State Council on the development of free trade zones. We have grasped the direction of the construction of the free trade zone and promulgated a series of policies, including: First, in the free trade zone, banks can go through the procedures of purchasing, paying and receiving foreign exchange under the current account in accordance with the three principles of exhibition industry. Second, if FTZ's foreign exchange management classification level of goods trade is Class A enterprise, there is no need to open an account for export income to be written off, and foreign exchange income from goods trade can directly enter the current account foreign exchange account. The third is to relax the examination conditions of electronic documents for trade in goods. Enterprises registered in FTZ can choose banks in the region to check electronic documents when handling foreign exchange receipts and payments of goods trade. Since 20 19, the foreign exchange bureau has introduced a number of measures to optimize business handling or simplify processes to improve the efficiency of cross-border trade fund settlement.
Foreign exchange management policies in pilot areas for innovative development of service trade. We adhere to the management principles of authenticity, convenience and risk prevention, adhere to the concept of small convenience and large standardization, and effectively facilitate the handling of foreign exchange business in areas with innovative development of service trade. Under normal circumstances, foreign exchange receipts and payments of service trade in various regions can be handled directly in banks, and there are no policy obstacles in the field of foreign exchange management.
As for the innovative measures you mentioned about the Beijing Free Trade Zone, first of all, in terms of cross-border trade, support the facilitation of foreign exchange receipts and payments in cross-border trade in the Beijing Free Trade Zone. Support qualified foreign trade comprehensive service enterprises to provide comprehensive foreign exchange services for cross-border electronic commerce. Study and explore the on-site foreign exchange settlement mode of cross-border transfer of physical assets to improve the settlement efficiency of foreign exchange funds. In addition, it provides support for talents, including facilitating the salary settlement of overseas employees of Chinese-funded institutions in Beijing, and facilitating the purchase of foreign exchange and settlement of foreign exchange for high-end overseas talents' personal family support and children's schooling. Secondly, in terms of direct investment, we will promote the facilitation of overseas investment by domestic institutions. We are studying the pilot program of QFLP reform, further expanding the scope of investment, simplifying the registration procedures, facilitating the flow of funds, exploring the cross-border investment and financing management mode of private equity funds, and continuing to support Beijing in attracting more world-class investment institutions to settle down. Third, in terms of foreign debt, we will continue to promote the implementation of foreign debt facilitation measures. Further upgrade the pilot policy of foreign debt facilitation in Zhongguancun National Independent Innovation Demonstration Zone to help the construction of Beijing Science and Technology Innovation Center. Relevant implementation rules have been issued, and qualified high-tech enterprises in the region can enjoy a foreign debt facilitation quota of 5 million US dollars. On this basis, the foreign debt facilitation quota of non-financial enterprises in Haidian Park was specially expanded, from $5 million to $6,543,800+million. At present, 654.38+09 high-tech enterprises enjoy the policy dividend. Innovative enterprise foreign debt management model. The transaction links were merged, a one-time foreign debt registration pilot was carried out, and the management requirements for the registration of pilot enterprises one by one were cancelled. We will carry out a pilot project of cross-border transfer of non-performing assets in Beijing, allowing the Beijing Financial Assets Exchange to carry out cross-border transfer of non-performing assets of banks, further revitalizing non-performing assets of banks and better supporting the development of the real economy. Thank you.