Guangdong Province, Foreign Exchange Control on Overseas Investments Pilot Measures

Issued: December 30 2002
Effective: from December 1 2002 to November 30 2003
Interpreting authority: State Foreign Exchange Administration Guangdong Branch
Applicability: "Overseas investment" means the establishment of enterprises, purchase of equity, equity participation or engagement in production or operations outside China (including Hong Kong, Macao and Taiwan) by wholly State-owned enterprises, companies limited by shares and limited liability companies from Guangdong Province using foreign exchange capital, material goods or intangible assets (Article 2).

Main contents: Part Two of the Measures detail the examination Measures for the sources of foreign exchange capital, including materials that the investor must provide to the local foreign exchange administration. The Measures also call for the establishment of a registration system for managing the registration of the foreign exchange for overseas investment (Article 10). Finally, the Measures lay out provisions for the management of remittance of foreign exchange (Part Four).
Related legislation: PRC Administration of Foreign Exchange Control Regulations (2nd Revision), Aug 5 2008, CLP 2008 No.8 p77