By Ma Feng and Chen Yun King and Wood Mallesons’ Finance Group
The State Administration of Foreign Exchange (“SAFE”) promulgated on 19 November 2012 the Notice on Further Improvement and Adjustment on the Foreign Exchange Administration Policies of Direct Investment (Hui Fa  No. 59, the “Notice”).The Notice aims to improve the foreign exchange administration on direct investment in China, and abolishes and/or adjusts certain foreign exchange administrative mechanism in that respect.
The changes reflected in the Notice mainly cover the following issues:
Continue Reading New Regulation of SAFE Simplifies Foreign Exchange Administration of Direct Investment