SAFE Issues New Rules to Deepen China Forex Reform Regarding Cross-Border Investment & Financing

The State Administration of Foreign Exchange (SAFE), China's foreign exchange regulator, yesterday issued the Notice on deepening the administration reform of foreign exchange regarding cross-border investment and financing (in Chinese: 国家外汇管理局关于深化跨境投融资外汇管理改革有关事宜的通知) which took effect from September 15, 2025. The Notice has introduced a variety of measures to further relax regulatory controls over foreign exchange income and payment in respect of current account transactions, and foreign nationals could settle foreign exchange in banks to pay for houses by showing house purchase contracts or agreements and later provide house purchase filing documents to the banks.