Chinese FX rules simplified
(18 June 2012 – China) The State Administration of Foreign Exchange has announced that Chinese firms will be allowed to use foreign currency loans they acquire from domestic banks to finance overseas operations from July 1.
The new rules also simplify procedures and eliminate some approval requirements for Chinese firms and their affiliates to transfer foreign currency in and out of the country for the purpose of direct investment.
China is encouraging the use f private capital in domestic companies’ overseas expansion by simplifying and expanding foreign currency financing channels, and by allowing individuals to act as guarantors during fundraising.
China is encouraging the use f private capital in domestic companies’ overseas expansion by simplifying and expanding foreign currency financing channels, and by allowing individuals to act as guarantors during fundraising.
Subscribe