China's forex regulator expands overseas borrowing pilot nationwide

State Administration of Foreign Exchange enhances support for foreign businesses

20231212 Caixin State Administration of Foreign Exchange

The State Administration of Foreign Exchange: The forex regulator on Dec. 9 raised the ceiling on overseas borrowing by Chinese companies to encourage more foreign investment in the country. © Reuters

ZHANG YUKUN, Caixin

December 13, 2023 10:50 JST

China's forex regulator has expanded a trial program nationwide to encourage eligible domestic businesses to borrow overseas.

The expansion is part of new measures released by the State Administration of Foreign Exchange (SAFE) on Friday aimed at facilitating cross-border trade and investment, some five months after a draft version of the measures was published for public comment.