In 2024, the Shanxi Bureau of the State Administration of Foreign Exchange promoted the expansion and enhancement of convenience policies for Shanxi province's high-quality enterprises in trade foreign exchange.

By the end of the year, there were 12 pilot banks for trade facilitation in the province, including State-owned, joint-stock, and foreign banks. The pilot high-quality enterprises exceeded 100, achieving full coverage in 11 cities. A total of 39,000 transactions worth $46.8 billion were processed under the pilot program, accounting for over 40 percent of cross-border fund settlements in current accounts.

The bureau created the "convenience+ specialized Town" model, focusing the trade facilitation policy on enterprises in specialized towns. Field visits and telephone consultations were conducted to understand the policy demands of enterprises regarding cross-border settlements.

The convenience policy was extended to specialized and innovative enterprises, providing enterprises with a comprehensive range of value-added services such as financing and exchange rate hedging. In 2024, the pilot banks processed 475 transactions totaling $18.37 million for 11 new high-quality, specialized, and innovative enterprises under the trade facilitation program.

The Shanxi Bureau of the State Administration of Foreign Exchange will continue to optimize the structure of the trade facilitation pilot entities, paving the way for a sustainable, efficient, and high-quality service-oriented path for the province's foreign economic development.