The People's Bank of China and the State Administration of Foreign Exchange jointly issued a package of measures to strengthen financial support for Fujian as it explores a new path for integrated development across the Taiwan Strait and builds a cross-strait integrated development demonstration zone. The measures set out 12 policy actions spanning cross-border payment and banking services, trade and capital account facilitation pilots, and tighter monitoring and control of cross-border financial risks. Key steps include allowing Fujian banks to process cross-border renminbi receipts and payments for Taiwanese individuals linked to compliant commodity housing transactions, and piloting improved domestic payment services for overseas visitors in Fujian, including easier account opening and upgraded cash withdrawal and currency exchange services. For cross-border trade pilots in Fuzhou, Xiamen and Quanzhou, qualified “prudential and compliant banks” may handle current account foreign exchange receipts and payments for pilot “high-quality enterprises” under customer and transaction due diligence, with post-transaction verification of tax filing documentation for service-trade foreign exchange payments above USD 50,000 equivalent; banks are also encouraged to support new forms of trade settlement, expand netting settlement, exempt certain special goods-trade refunds from pre-registration, and streamline handling of service-trade advances or cost-sharing transactions. On capital account facilitation, Taiwan-funded enterprises in Fujian receive simplified treatment for domestic reinvestment and certain foreign debt and overseas listing foreign exchange registrations can be handled directly by banks; eligible Fujian firms may also use integrated renminbi and foreign-currency cash pools, alongside initiatives to develop multi-level cross-strait financial markets including upgrading the “Taiwan-funded board” at the Haixia Equity Exchange Center and supporting eligible Taiwan-funded firms in Fujian to list on mainland markets. Implementation will be pushed through with ongoing monitoring of pilot banks and pilot enterprises and strengthened surveillance of foreign exchange conditions and cross-border capital flows, alongside tools such as on-site checks and risk alerts to address emerging risks.
Central Bank of the Republic of China 2025-06-01
People's Bank of China and State Administration of Foreign Exchange issue 12 measures to support Fujian cross-strait financial integration pilots
The People's Bank of China and the State Administration of Foreign Exchange have introduced measures to bolster financial support for Fujian's cross-strait development, including 12 policy actions on cross-border payments, trade facilitation, and risk control. Key initiatives involve allowing Fujian banks to process cross-border renminbi transactions for Taiwanese individuals and piloting enhanced payment services for overseas visitors. The measures simplify foreign exchange processes for Taiwan-funded enterprises and promote multi-level cross-strait financial markets.