The overseas fund centralized management account shall comply with the laws and regulations of the country (or region) where the overseas account is located. RMB Cross-border Trade Settlement. The Alataw Pass, a major rail port at the China-Kazakhstan border in Xinjiang, has shown great market potential in cross-border e-commerce trade since the business was launched in January. China Cross-border e-commerce platforms have been expanding rapidly and have gradually been replacing the traditional models such as haitao or daigou (people buying a product tax-free overseas and then re-selling it in the local market). China’s crackdown on daigou is part of its moves to strengthen e-commerce regulation and better control the rapidly expanding sector. Cross-border, on the other hand, is defined as the direct import of goods from outside China through special cross-border e-commerce platforms and the preferential policies of special economic zones or warehouses (free trade zones). China’s foreign exchange control regime concerns all cross-border transactions to a greater or less extent and often plays an important role in driving transaction structures and financing arrangements for … If businesses choose not to open such an account, the income arising from trade in goods will be subject to bank review, and then be able to have direct access to the foreign exchange account. Trade volume of China's export cross-border e-commerce players 2011-2019 Number of cross-border online shoppers in China 2016-2020 Growth rate of cross-border online shoppers in China 2014-2017 Under the new rules, the channels, types of domestic credit assets, and scope of persons able to participate in the overseas transfer will be expanded in the pilot area within the Hainan Province and the Guangdong-Hong Kong-Macao Greater Bay Area.Foreign investors will now be able to carry out cross-border transfers of non-performing assets and can use foreign capital to directly participate in China’s non-performing asset market – changes that will undoubtedly enrich the investment channel available to them. The contracted engineering enterprises can manage and allocate the funds of different overseas engineering projects in a centralized way to facilitate the cash flow efficiency and develop in overseas markets. Non-bank debtors can now go directly to the bank to cancel their foreign debt registration, instead of dealing with SAFE, thereby reducing the overall time needed for foreign debt deregistration. Foreign firms engaged in non-investment businesses will be allowed to make equity investments on the mainland with their capital funds. "There is a trend towards more direct shipping out of China through digital cross-border shopping channels, which helps alleviate some of the downtrend in Chinese exports driven by the trade … and grow their operations. The new rules reduce the processing time of transactions using the capital fund as it is no longer necessary to provide information before the settlement of the capital. Most of the provisions of this article will take effect on the issuing date, except the new online foreign exchange reporting system for businesses engaged in the trade of goods, which will take effect from January 1, 2020. The firm assists foreign investors throughout Asia and maintains offices in China, Hong Kong, Indonesia, Singapore, Russia, and Vietnam. The reform will expand the scope of the pilot scheme to cover six new free trade zones established in 2019 and the whole jurisdiction of Shanghai. At present, this pilot scheme has been carried out in 12 free trade zones, and several provinces and cities, such as Fujian, Zhejiang, Jiangsu, Shenzhen. The announcement states that foreign investment enterprises that do not engage in investment activities are allowed to make domestic equity investment with capital fund on the premise of not violating the current special administrative measures for foreign investment access (2019 Negative List) and that the projects invested in China are verified and compliant. The cross-border RMB income obtained from foreign direct investment (FDI), cross-border financing, and overseas listing may also be directly used for payment within China. There will also be an easing of restrictions surrounding the use of foreign investors’ deposit account. Another 141,000 got newly registered, up by 7.7 percent year-on-year. Small and micro cross-border e-commerce enterprises that handle the collection or payment of foreign exchange of trade of goods less than US$200,000 accumulated per year, are exempt from the registration of “list of enterprises engaged in foreign exchange trade receipt and expenditure.”. Most Pakistani traders in Xinjiang cannot afford to ship containers through the Khunjerab Pass and rather carry the goods purchased in China with them on the daily buses to Sost, Pakistan, thus avoiding customs duties. China's cross-border e-commerce market has grown remarkably since 2014, with the import proportion of total e-commerce sales soaring to 10.2% in 2017 from 1.6% in 2014. Located on the border of China and Kazakhstan, the China-Kazakhstan Horgos International Border Cooperation Center is the only cross-border trade center in the world. The Alataw Pass, a major rail port at the China-Kazakhstan border in Xinjiang, has shown great market potential in cross-border e-commerce trade since the business was launched in January. BEIJING, Nov. 4 (Xinhua) -- Chinese President Xi Jinping said Wednesday that the country will introduce a negative list for cross-border services trade. Regarding the scope of the pilot scheme, no specific cities were mentioned; instead, the application of the policy will depend on the actual needs of the locality to be decided and announced later by the government bureau. Micro regulation, '' Li said of increasing imports to facilitate innovation in imports and china cross border trade requirements be carried where... Of various products that are popular for cross border purchases are the fastest growing ecommerce with... 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