The new rule stipulates that domestic listed companies and their foreign employees can directly handle business such as cross-border payment and fund transfer at banks with a registration certificate without applying for prior approval. Photo: AFP

China’s top foreign exchange regulator said on Tuesday that it will actively support foreign employees of domestic listed companies to participate in A share equity incentives, Securities Daily reported.

The People’s Bank of China and the State Administration of Foreign Exchange co-released a new policy to deal with the foreign fund management issues when foreign employees get involved in A share equity incentives.

The new rule stipulates that domestic listed companies and their foreign employees can directly handle business such as cross-border payment and fund transfer at banks with a registration certificate without applying for prior approval.

Also, foreign employees of domestic listed companies who participate in equity incentives may use funds derived from their legal income in the territory or funds transferred overseas.

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