Outbound funds may rise if change approved

Source: Xinhua | May 20, 2009, Wednesday |

Print Edition

OUTBOUND investment of Chinese enterprises may be expanded as China's foreign exchange regulator has said it plans to simplify examination and approval procedures for domestic companies' investment abroad.

The State Administration of Foreign Exchange has posted on its Website a draft regulation on foreign exchange management involving domestic enterprises investing abroad, seeking public opinion before June 19.

Domestic companies will be allowed to register the source of their foreign exchange financing after their investment overseas instead of obtaining approval beforehand.

The draft also allows domestic enterprises to seek financing from more sources, including domestic foreign exchange loans, purchasing foreign exchange with the yuan, the foreign currency funds enterprises possess, and their profits gained abroad.

SAFE will also improve its supervision over overseas investment by carrying out annual inspection on investment projects together with the Ministry of Commerce.

China's outbound direct investment reached US$55.6 billion last year, up 194 percent from a year earlier.

Finance

About Us
|
Terms of Use
|
RSS
|
Privacy Policy
|
Contact Us
|
Shanghai Call Center: 962288
|
Tip-off hotline: 52920043

沪ICP证：沪ICP备05050403号-1
|
互联网新闻信息服务许可证：31120180004
|
网络视听许可证：0909346
|
广播电视节目制作许可证：沪字第354号
|
增值电信业务经营许可证：沪B2-20120012

Outbound funds may rise if change approved

Email this to your friend