Measures to improve foreign debt management have been aimed at making cross-border financing easier for domestic companies. But managers at companies borrowing offshore need to make financing decisions carefully based on actual corporate performance，market demand，development prospects and financing costs. They must refrain from blindly adding leverage by borrowing offshore.

Small and medium sized businesses have long complained of an inability to obtain affordable financing. The slowing economy and the coronavirus outbreak have compounded their problems. Businesses have been gradually opening their doors and restoring operations as the coronavirus comes under control in China. In the months ahead they will be looking for affordable financing resources available domestically and abroad. The People's Bank of China and the State Administration of Foreign Exchange，taking into account the state of the economy and the balance of payments situation，have made proactive adjustments to foreign debt management policy. One policy measure has been to use macro-prudential management of cross-border financing to let more domestic entities — with the exception of real estate companies and local government financing platforms — to benefit from offshore financing. Another has been a pilot program for foreign debt facilitation that makes use of a quota system for cross-border financing of high-tech enterprises，particularly small and medium-sized firms.

Prior to 2014，China had maintained a system of strict management of its foreign debt. Requirements for those companies that could borrow were strict，and many Chinese companies，particularly small and medium-sized ones，were basically excluded from taking advantage of offshore financing. Borrowing levels were also kept low through the use of an approval system. This had a heavy impact on the long-term development of many domestic companies. The Decision on Major Issues Concerning Comprehensively Deepening Reforms，a policy document adopted at the close of the Third Plenary Session of the 18th Central Committee meeting of the Chinese Communist Party，makes a clear call to "establish and improve the foreign debt and capital flow management system within the framework of macro-prudential management."