State Administration of Foreign Exchange: Over 700 billion US dollars of related business transactions for facilitating the trade foreign exchange receipts and payments of high-quality enterprises were processed in the first half of the year.

On July 22, at the State Council Information Office press conference, Li Bin, deputy director of the State Administration of Foreign Exchange, stated that in the first half of the year, over 700 billion US dollars of facilitation business was processed, representing an 11% increase compared to the same period last year. Encouraging more banks and payment institutions to use technology to automate the review of electronic orders in bulk, providing efficient, convenient, and secure foreign exchange settlement services for small and medium-sized cross-border e-commerce enterprises. In the first half of the year, the country processed 510 million related transactions. Expanding the pilot program for the integration of foreign and domestic currency funds of multinational companies, some facilitation measures have reduced processing time by 50%. Steadily expanding the reform of foreign exchange business, banks have processed over 200 billion US dollars of cross-border receipts and payments for customers this year based on instructions, with the average processing time reduced by more than 50%.