Regulator relaxes forex controls for outbound investment

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    No more pre-approvals

    The foreign exchange regulator has issued new draft provisions on foreign exchange control for outbound investment which should make it easier for Chinese companies to make investments overseas.

    The Provisions on Foreign Exchange Control in Connection with Outbound Direct Investment of Organisations in China (Draft for Comments) (境内机构境外直接投资外汇管理规定（征求意见稿）) were issued by the State Administration of Foreign Exchange (Safe) on May 18 2009.

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