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ARTICLE · 10 JANUARY 2017

China's Capital Controls - Implications For China Focused Companies

McMillan LLP
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The statement was followed by further communication from SAFE, and other developments to slow renminbi (RMB) outflows...

ChinaFinance and Banking
Stephen Wortley
Stephen Wortley
Ravipal Bains
Ravipal Bains
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In late November 2016, following speculative reports of increased restrictions on capital outflows, four Chinese government agencies, including National Development and Reform Commission (NDRC), Ministry of Commerce (MOFCOM), State Administration of Foreign Exchange (SAFE) and People's Bank of China (PBOC) issued a joint statement which stated that outbound investment deals will be subject to strict reviews. The statement was followed by further communication from SAFE, and other developments to slow renminbi (RMB) outflows...

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The foregoing provides only an overview and does not constitute legal advice. Readers are cautioned against making any decisions based on this material alone. Rather, specific legal advice should be obtained.

© McMillan LLP 2017

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