Measures for the Administration of Renminbi Settlement Matters Relating to Foreign Direct Investment
These Measures govern the handling of renminbi settlement matters relating to foreign direct investment by banks.
Issue: November 2011
CLP Reference: 2300/11.10.13
PRC Reference: 人民银行公告  第23号
Promulgated: 13 October 2011
Effective: 13 October 2011
Keywords (click to search):
foreign direct investment
renminbi settlement account
(Issued by the People’s Bank of China on, and effective as of, October 13 2011.)
Announcement of the PBOC  No. 23
Part One: General provisions
Article 1: These Measures have been formulated pursuant to relevant laws, administrative regulations and rules such as the PRC People’s Bank of China Law and the Measures for the Administration of Renminbi Settlement Accounts (issued with Order of the People’s Bank of China  No.5) in order to further expand the scope of use of the renminbi in cross-border trade and investment, and regulate the handling of renminbi settlement matters relating to foreign direct investment by financial institutions of the banking sector (Banks).
Register with China Law & Practice to unlock our premium content for the next 14 days.
**Full text translations are only available for individual purchase or as part of a subscription.**