With a focus on building itself as a new inland hub for opening-up, Shanxi province is set to implement detailed foreign exchange facilitation reforms to enhance the quality and efficiency of foreign exchange services for the real economy.

The province aims to expand and optimize policy support for emerging trade formats, including cross-border e-commerce and intermediate-goods trade, aid enterprises involved in the Belt and Road Initiative in conducting flexible trade settlements, and implement a pilot classification system for service trade entities across the province.

To facilitate cross-border financing, Shanxi plans to improve policies targeting high-tech, specialized, and innovative small and medium-sized enterprises and to promote the implementation of integrated Chinese and foreign-currency cash-pool policies for multinational companies across the province.

In terms of direct investment foreign exchange management, Shanxi will streamline the payment and use of foreign investment funds, optimize management of outbound direct investment, and implement integrated Chinese and foreign currency management for domestic enterprises' offshore lending.

In advancing banking operations reforms, Shanxi will enhance policy promotion and guide banks to expand their services to cover top-tier enterprises, fostering an environment in which the more trustworthy the enterprise, the more convenient foreign exchange use.