Six new policies were recently issued by the Zhejiang branch of the State Administration of Foreign Exchange – designed to boost the cross-border business in the China (Zhejiang) Pilot Free Trade Zone (FTZ) in Zhoushan.

Officials said this is the third time since 2017 that the State Administration of Foreign Exchange has issued related policies in order to drive the development of Zhoushan.

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These policies aim at simplifying the registration procedures for foreign exchange, improving the convenience of the cross-border investment and financing and help companies minimize exchange rate risks, said Zhou Yan, director of the foreign exchange management department in the Zhoushan branch of the People's Bank of China.

He said the policies will facilitate payments of foreign exchange currency, as well as the registration, alteration and cancellation of foreign-funded companies.

In addition, foreign-invested enterprises engaged in non-investment business can directly make equity investments in China, added Zhou.