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ARTICLE · 14 DECEMBER 2012

SAFE Eases Its Grip On Foreign Exchange Control Over FDI And M&A

De Brauw Blackstone Westbroek
De Brauw Blackstone Westbroek
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De Brauw Blackstone Westbroek

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The exchange controls relating to foreign direct investments will be greatly simplified as of 17 December 2012.

NetherlandsGovernment, Public Sector
Geert Potjewijd
Geert Potjewijd
Diederik Maessen
Diederik Maessen
Renee Xu
Renee Xu
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The exchange controls relating to foreign direct investments will be greatly simplified as of 17 December 2012.

Many of the restrictions put in place over the last years will be removed pursuant to a new Circular 59 that has been issued by SAFE (China's foreign exchange regulator). This will have a large impact on inbound and outbound investments. Transactions can be done quicker as (i) fewer approvals will be required and (ii) banks will have more influence to review and process transactions without the involvement of SAFE. This indicates that SAFE is moving away from administrating individual transactions and being more focused on macro-supervision.

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