China will streamline its import payment verification systems starting December 1 this year.

Enterprises will no longer have to be present for import payment verification if they are undertaking "regular business," said the State Administration of Foreign Exchange (SAFE).

SAFE will handle import payment verification and share the information so enterprises will not have to complete verification preparation procedures at SAFE facilities.

The reforms are meant to boost foreign trade and simplify enterprises' import payment procedures while cutting their costs.