Issued by: Standing Committee of Shanghai Municipal People's Congress
Release Date: March 27, 2025
Effective Date: May 1, 2025
Links: https://www.pudong.gov.cn/zwgk/pdxqfg2025/2025/87/339608.html

The Provisions, comprising 20 articles, summarize and consolidate the successful experience from over a decade of pilot operations of the Shanghai Free Trade Account and further enhance its functionalities. The specific innovative measures include:
1. Banking institutions are allowed to provide integrated RMB and foreign currency financial services for cross-border treasury management of multinational enterprise groups through Free Trade Accounts;
2. Banking institutions may appropriately relax restrictions on loan-to-value ratio and repayment term when providing non-resident merger and acquisition loans through their branches in Lingang Area; 
3. Banking institutions are permitted to provide eligible overseas individuals with tailored cross-border financial services for domestic direct investments in high-tech and strategic emerging industries through Free Trade Accounts.  
4. Banking institutions are allowed to provide the following services to overseas individuals with Free Trade Accounts: 1) free fund transfer between non-resident accounts; 2) convenient settlement services for work/life-related transactions with resident accounts in the FTZ; 3) other approved cross-border payment facilities authorized by relevant authorities