China Proposes Easing Foreign Exchange Rules for Trade and Payments

China’s foreign exchange regulator has proposed easing current-account rules to simplify cross-border settlements and expand the range of businesses payment institutions can serve.

The State Administration of Foreign Exchange released a draft notice on Monday outlining nine measures aimed at supporting new forms of trade and reducing companies’ transaction costs. The proposals are part of Beijing’s broader effort to streamline cross-border business, although industry participants say regulatory scrutiny and compliance costs could limit their impact.