News Column

China Relaxes Forex Control on Multinationals

April 28, 2014

BEIJING, April 28, SinoCast -- China's foreign exchange regulator will relax some foreign exchange control on multinationals and liberate capital flows with a purpose to reduce enterprises' costs and meet market demands.

On April 25), the State Administration of Foreign Exchange of China decided to implement a trial regulation on centralized operation and management of multinationals' foreign-exchange capital and the new regulation will allow domestic and multinational companies with the previous-year foreign exchange balance of USD 100 million and above to more freely transfer capital.

This move has not only streamlined administration and instituted decentralization and promoted trade and investment facilitation, but also explored a replicable and propagable capital account convertibility system and mechanism.

For more stories on investments and markets, please see HispanicBusiness' Finance Channel

Source: Sinocast Banking & Credit Beat (China)

Story Tools Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters