How are the policies to be relaxed in the Shanghai Free Trade Zone (FTZ) for cross-border usage of RMB?

The Notice Concerning Support to Further Expand the Cross-Border Usage of RMB in the Shanghai FTZ (The Notice) simplifies the procedures for cross-border RMB usage under current account and direct investment items within the Shanghai FTZ. Commercial banks in the Shanghai FTZ may directly process these transactions. The Notice also specifies some innovative services that will be offered in the Shanghai FTZ, such as cross-border e-commerce settlement and RMB exchange services.