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ARTICLE · 02 JUNE 2014

SAFE Eases Control Over Cross-Border Security

Mayer Brown
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The State Administration of Foreign Exchange of the PRC has recently issued the Provisions on Foreign Exchange Administration of Cross-Border Security and the relating implementation guidelines.

ChinaFinance and Banking
Joe Tam
Joe Tam
Irene Lau
Irene Lau
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Keywords: SAFE, PRC, cross-border security, new regulations

The State Administration of Foreign Exchange of the PRC (SAFE) has recently issued the Provisions on Foreign Exchange Administration of Cross-Border Security and the relating implementation guidelines (collectively the "New Regulations"). The New Regulations are to come into effect on 1 June 2014 and will supersede a series of regulations previously issued by SAFE on cross-border security and introduce sweeping changes.

Key Changes

The existing cross-border security regime which has been in force for around two decades will be completely overhauled by the New Regulations, and the key changes include the following:

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