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ARTICLE · 10 SEPTEMBER 2009

China Liberalizes Foreign Exchange For Overseas Investments

Jones Day
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In April 2009, the Ministry of Commerce ("MOFCOM") promulgated a new regulation, Measures for the Administration of Overseas Investment (the "Circular"), which simplified the application process for overseas investments by Chinese companies.

ChinaStrategy
Benedict Tai
Benedict Tai
Jessie Tang
Jessie Tang
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In April 2009, the Ministry of Commerce ("MOFCOM") promulgated a new regulation, Measures for the Administration of Overseas Investment (the "Circular"), which simplified the application process for overseas investments by Chinese companies. Two months later, the State Administration of Foreign Exchange ("SAFE") promulgated a draft Notice on Issues relating to Administration of Overseas Loan by Domestic Enterprises (the "Draft Notice") on June 9, 2009, for public comment with the aim for it to become effective by August 1, 2009. "The new rule can help facilitate investment trade and support qualified companies to venture globally," according to a statement by the foreign exchange regulator.

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