The pilot content of financial reform involving the responsibilities of the central bank and the State Administration of Foreign Exchange mainly includes four aspects. These include creating conditions in the Pilot Free Trade Zone to expand the cross-border use of RMB. According to the overall plan, in order to serve the real economy of the Pilot Free Trade Zone, the business processes and procedures for cross-border RMB settlement under the current account will be further simplified; In terms of interest rate marketization, the interest rate marketization in the Pilot Free Trade Zone will be steadily promoted within the framework of macro-prudential financial management according to the development needs of the real economy in the service area, the cultivation objectives of financial market players, and the construction of market environment.
At the same time, under the premise of controllable risks, the pilot project of RMB capital account convertibility in the region will be promoted in an orderly manner to further support enterprises to go global and improve their international competitiveness; Establish a foreign exchange management system suitable for the Pilot Free Trade Zone, and encourage enterprises to make full use of both domestic and foreign resources and markets to realize cross-border financing liberalization; Deepen the reform of foreign debt management methods and promote the facilitation of cross-border financing; Deepen the pilot project of centralized operation and management of foreign exchange funds at the headquarters of multinational corporations, and promote the establishment of regional or national fund management centers by multinational corporations.