Circular 7 provides that foreigners working in China are subject to SAFE registration if they participate in any form of equity incentive plan with an overseas-listed company. We provide a brief introduction of the revised SAFE registration procedures and compliance requirements here.
On July 29, 2011, the Shanghai branch of SAFE issued a Circular requiring designated foreign exchange banks to comply with the “Supplementary Circular” issued by the SAFE earlier. However, for small-amount invoices under RMB2,000, the documentation required is simplified in Shanghai.
Oct. 25 – China’s net international investment position – the balance between the stock of external assets and the stock of external liabilities in the country – stood positive at around US$2 trillion by the end of June, the country’s State Administration of Foreign Exchange said in a statement released on October 19. China’s external […]
China is going to kick off a reform of its foreign exchange control system for international trade in pilot areas, in a move to bring increasing efficiency to traders and strengthen the information sharing system for foreign exchange control.