China will sim­plify currency rules and step up credit sup­port for firms investing overseas, the cabinet said on Wednesday.
It was the government?s latest move to encourage use of excess factory ca­pacity at home and help local firms grow globally.
The government will allow firms investing abroad to exchange mon­ey directly at banks with­out first registering with the authorities.
It will also help firms to ?go out? to expand abroad with more bank support for major equipment makers, the cabinet said, calling for ?diversified use of foreign exchange reserves?.


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