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SAFE to Facilitate Financing of Offshore Subsidiaries of Chinese Companies

China Insight - Banking & Finance

01/06/2012

On June 15, 2012, the State Administration of Foreign Exchange (the "SAFE") issued the Circular on Relevant Foreign Exchange Issues Relating to Encouraging and Guiding the Healthy Development of Private Investment (the “2012 Circular”), which will become effective on July 1, 2012. The 2012 Circular aims to relax the foreign exchange control on outbound investment and to follow the principles of the Opinions on Encouraging and Guiding the Healthy Development of Private Investment promulgated by the State Council on May 7, 2010. The 2012 Circular facilitates the financing of offshore subsidiaries of Chinese companies by the following two measures.

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Source
China Insight - Banking & Finance
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Authors

Jie Lin
Jie Lin, LL.M.