China's  State Administration of Foreign Exchange (SAFE) issued a policy document (SAFE Document No. 8 [2020]) aimed at improving foreign exchange regulation，easing regulatory controls over businesses and streamlining administrative measures. The SAFE Circular on Optimizing Foreign Exchange Administration to Support Foreign-related Business Growth，which was formally announced on April 10，sets out eight measures to attain these goals.

01 Making domestic payments from foreign exchange revenue under the capital account and renminbi funds from related foreign exchange settlements

For companies included in the reform program

There was no need for examination of transaction documents by banks in advance on a case-by-case basis; Formalities could be completed  directly with payment instructions.