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China Insight - Banking & Finance

MOC and PBOC Promulgated Detailed Guidelines on RMB Inbound Direct Investment


On October 12, 2011, the Ministry of Commerce (the "MOC") promulgated the Circular on Several Issues on Direct Investment by Cross-border RMB (Shang Zi Han [2011] No. 889) (the "MOC Circular"). The MOC Circular took effect on the same day. One day later, the People's Bank of China (the "PBOC") issued the Measures of Administration of RMB Settlement Business for Foreign Direct Investment (the "PBOC Measures"). Both, the MOC Circular and the PBOC Measures clarify some uncertainties on foreign direct investment by using cross-border Renminbi ("RMB").

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China Insight - Banking & Finance
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Kevin Wang, LL.M.