Shanghai Lin-gang Special Area Released Measures to Support Exchange Rate Risk Management for Companies in the Area

On October 11, 2022, the Management Committee of the Shanghai Lin-gang Special Area (“Area”) released Measures on Further Supporting Businesses in the Lin-gang Special Area to Manage Exchange Rate Risk (“Measures”) together with the Shanghai Branch of the State Administration of Foreign Exchange. The Measures mainly aim to support micro, small and medium enterprises in the Area to cope with the two-way fluctuation of CNY exchange rate. Specific measures include free training on exchange rate risk management, low-cost guarantees and rewarding for certain exchange rate hedging business, active guidance towards exchange rate risk exposure analysis and anti-risk measures, and establishment of exchange rate risk management service evaluation system for banks and financial institutions in the Area.