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What system does China have regarding foreign exchange (FOREX) control?
6th November, 2014
China’s current FOREX control system was first introduced in 1996. According to this system, all FOREX transactions are classified into two categories: capital account items …
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What does the abbreviation SAFE stand for?
6th November, 2014
SAFE is the State Administration for Foreign Exchange. SAFE creates balance sheets for international payments, recommends exchange rate policies and recommends policies for balancing international …
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How is China reforming its foreign exchange control regulations?
6th November, 2014
Following the relaxation of foreign exchange restrictions in the last decade, the State Administration of Foreign Exchange (SAFE) issued the Administrative Regulations of the People’s …
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How SAFE controls foreign exchange on Current Accounts?
6th November, 2014
Current account foreign exchange income may, in accordance with relevant provisions of the state, be retained or sold to any financial institution engaged in foreign …
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How SAFE controls foreign exchange on Capital Accounts?
6th November, 2014
Any foreign organisation or individual that seeks to make a direct investment in China, must first obtain approval from the relevant competent department prior to …
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What is the requirement for SAFE registration to open a Capital Account?
6th November, 2014
After being issued a Corporate Legal Person Business Licence, a foreign-invested enterprise (FIE) must apply for registration of foreign exchange with SAFE at the place …
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What were the rules on the registration of FOREX debts?
6th November, 2014
The latest regulation of FOREX debts and Administrative Measures for Registration of Foreign Debts, was issued by National SAFE and came into effect on May …
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What rules have been issued regarding foreign debts registration?
6th November, 2014
Foreign debt registration states that the debtor shall register or report the information on the signing of contracts, withdrawal, repayment, settlement and sale of foreign …
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What rules have been issued regarding administration of the accounts, utilisation of funds and settlement and sale of foreign exchange of foreign debts?
6th November, 2014
According to the application by Non-bank Debtor, banks may directly open and close foreign debts accounts and go through formalities for withdrawal, settlement and sale …
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What is the registration process for Foreign Debts?
6th November, 2014
The registration process for Foreign Debts is as follows: 1) SAFE Registration for a Foreign Debts Certificate, Foreign Debts Statement and Bank Opening Approval …
