SAFE has relaxed its control over foreign exchange for cross-border security. Yun Chen believes the new rules are an important breakthrough for onshore and offshore financing
Issued: May 20 2014Main contents: The Guidelines require commercial banks to conduct assessments of the internal controls of institutions subject to consolidated…
Carmen Kan, general counsel at Bank of China (Hong Kong) Limited, spoke to China Law & Practice on relaxing foreign exchange and Hong Kong's role as the global hub for offshore renminbi
The Measures specify that, among the promoters, at least one is to be a qualified commercial bank, manufacturer or foreign lease financing company and its capital contribution is to account for not less than 30% of the share capital.
New Measures have opened up investment opportunities for aircraft and vessel lease financing companies. But Xin Zhang and Miller Wang believe more clarity and support is needed before companies can start to set up offshore and tap into the global leasing market
An insurance company is required to manage bank deposits other than the current deposits required to maintain its day-to-day operations in investment accounts.
