ANNOUNCED AS TEMPORARYNo
Controls on commercial transactions and investment instruments
On 11 May 2013, the State Administration of Foreign Exchange (SAFE) released the Measures on the Administration of Foreign Exchange in Foreign Direct Investments, clarifying the administration of foreign exchange and the promotion of foreign direct investment.
The SAFE abolished the governmental review and approval requirements for foreign exchange settlement. Instead the review shall be carried out directly by designated banks.
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