State Administration of Foreign Exchange, Circular on Further Improving and Revising the Policy for Control of Foreign Exchange on the Capital Account

Main contents: The Circular simplifies and further liberalises exchange control on the capital account for matters such as foreign claims of lease financing companies, acquisitions of non-performing assets in China by foreign investors, startup costs of organisations in China in connection with overseas direct investments, extension of loans abroad and outward remittance of profits by enterprises in China and transfers of personal property.