New regulations make it easier for Chinese individuals and companies to invest abroad
China’s State Administration of Foreign Exchange (SAFE) has announced reforms to its foreign exchange administration in order to make it easier for Chinese individuals and companies to invest abroad.
SAFE’s ‘Notice on Certain Issues Relating to Foreign Exchange Administration for Overseas Investment and Financing as well as Roundtrip Investment by Domestic Residents through Special Purpose Companies’ (Decree 37) reflects the growing popularity of China’s ‘going abroad’ strategy, with more Chinese enterprises and individuals using ‘special-purpose vehicles’ (SPVs) for overseas financing and investment.
It repeals and replaces SAFE’s ‘Notice on Certain Issues Relating to Foreign Exchange Administration for Financing and Roundtrip Investment by Domestic Residents through Overseas Special Purpose Companies’ (Decree 75), under which foreign exchange registration was one of the key steps for establishing a valid round-trip investment structure…
Click on the link below to read the rest of the Minter Ellison briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Minter Ellison
News from The Lawyer
Briefings from Minter Ellison
China plans new pilot free trade zones (FTZs) for Guangdong, Tianjin and Fujian
The ASX has amended its operating rules to enhance disclosure requirements and facilitate the expansion of exchange traded funds.