The current foreign exchange administration of direct investment is perceived as strict and complex, which requires cumbersome examination and verification procedure. For promoting trade and investment, the State Administration of Foreign Exchange (“SAFE“) of the People’s Republic of China (“PRC“) recently issued Huifa [2012] No. 59 (“Circular 59” or “Circular“), further simplifying the foreign exchange administration of inbound and outbound investment. Circular 59 will take effect on December 17, 2012. More…
Foreign Exchange Administration of Direct Investment Relaxed by State Administration of Foreign Exchange
By Zhong Lun Law Firm on January 11th, 2013
