Legislation roundup: FDI Provisions, immigration and insurance administration
May 16, 2013 | BY
clpstaff &clp articlesSAFE has released Provisions easing forex controls over foreign direct investment. The Legislative Affairs Office of the State Council has issued Regulations over the exit and entry of foreigners and the CIRC has produced Measures for the scopes of business of insurance companies
Foreign exchange
State Administration of Foreign Exchange, Provisions for the Foreign Exchange Control in Connection with Direct Investment in China by Foreign Investors
SAFE further streamlines the foreign exchange procedures for establishment of foreign-invested enterprises. The Provisions remove the pre-approval requirement of most of the common foreign exchange transactions. Banks mainly rely on the information registered with the State Administration of Foreign Exchange and its branches to carry out cross-border receipts and payments and exchange conversion for enterprises.
See the full translation.
Further reading
Circular on Further Improving and Revising the Foreign Exchange Control Policy on Direct Investment
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