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ARTICLE · 08 MAY 2017

Governance & Securities Law Focus: Asia Edition, May 2017

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In this newsletter, we provide a snapshot of the principal Asian, US, European and selected international governance and securities law developments of interest to Asian corporates...

GlobalCorporate/Commercial Law
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In this newsletter, we provide a snapshot of the principal Asian, US, European and selected international governance and securities law developments of interest to Asian corporates and financial institutions.

Asia Developments

SAFE Policy Update

On 26 January 2017, the State Administration of Foreign Exchange (the "SAFE") issued the Notice on Further Promotion of Foreign Exchange Administration Reform and Improvement of the Authenticity and Compliance Review (the "Notice"). The Notice is aimed at relaxing certain foreign exchange inflow controls and strengthening the authenticity and compliance reviews for capital outflows carried out by China's designated foreign exchange banks. The key measures in the Notice include but not limited to (1) permitting funds under Nei Bao Wai Dai (an arrangement under which a borrower can obtain loans outside China using the domestic assets of its Chinese affiliate(s) as security) to be transferred back to China and used

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