The PBOC and multiple ministries released guidance to financially support building international science-and-tech innovation hubs in Beijing (Jing‑Jin‑Ji), Shanghai (Yangtze River Delta) and the Guangdong‑Hong Kong‑Macao Greater Bay Area. Key market measures: pilot facilitation of cross‑border trade financing for tech firms; faster, more efficient cross‑border settlement services for exporters of R&D, IP, software and compute services; permission for domestic tech firms’ offshore R&D centers, of

The PBOC and multiple ministries released guidance to financially support building international science-and-tech innovation hubs in Beijing (Jing‑Jin‑Ji), Shanghai (Yangtze River Delta) and the Guangdong‑Hong Kong‑Macao Greater Bay Area. Key market measures: pilot facilitation of cross‑border trade financing for tech firms; faster, more efficient cross‑border settlement services for exporters of R&D, IP, software and compute services; permission for domestic tech firms’ offshore R&D centers, offshore innovation platforms and overseas tech subsidiaries to open onshore FX accounts to ease cross‑border allocation of R&D funds; creation of streamlined cross‑border receipts/payments services for priority tech sectors; optimization of domestic banks’ overseas loan management and broadening of offshore financing channels for Chinese tech firms. The guidance also allows domestic non‑enterprise research institutes to receive and use foreign funding under FX remittance procedures aligned with foreign direct investment rules.