Liaoning’s foreign exchange authority published final pilot rules for the Shenyang and Yingkou areas of the Liaoning pilot free trade zone on 27 October 2026. Signed on 14 October, the rules take effect on 17 November 2026.
The Liaoning Branch of the State Administration of Foreign Exchange sets out arrangements for banks and other participants in the two areas. Eligible non-financial enterprises may register external borrowings directly with banks.
Appropriately qualified banks may provide permitted renminbi–foreign currency derivatives to overseas institutions eligible for spot currency conversion. The bank must be registered and have its place of business within the pilot zone.
An annex governs conversion of funds in overseas institutions’ onshore foreign currency accounts. The resulting renminbi must be used domestically; transfers abroad, into free trade accounts or into overseas institutions’ onshore renminbi accounts are prohibited.
The rules retain transaction authenticity and legality checks, bank scrutiny, supervision and reporting. Access to these facilities therefore depends on eligibility and the servicing bank’s review of the specific transaction.