State Administration of Foreign Exchange, Issues Relevant to Improving the Foreign Exchange Administration Regarding Mergers and Acquisitions by Foreign Investors Circular

国家外汇管理局关于完善外资并购外汇管理有关问题的通知

March 31, 2005 | BY

clpstaff &clp articles

Issued: January 24 2005Effective: as of date of issueMain contents: According to the Circular, when carrying out foreign exchange registration in respect…

Clp Reference: 3820/05.01.24 Promulgated: 2005-01-24 Effective: 2005-01-24

Issued: January 24 2005
Effective: as of date of issue

Main contents: According to the Circular, when carrying out foreign exchange registration in respect of a foreign-invested enterprise established through a merger or acquisition by a foreign investor, a branch or office of the State Administration of Foreign Exchange shall put emphasis on examining whether the foreign enterprise was established or is controlled by a Chinese citizen and whether it has the same management as the target enterprise.
Related legislation: Exchange Control for Investments Outside the People's Republic of China Procedures,
Mar 6 1989 and Acquisition of Domestic Enterprises by Foreign Investors Tentative Provisions, Mar 7 2003, CLP 2003 No.3 p27

clp reference:3820/05.01.24prc reference:汇发 [2005] 11 号promulgated:2005-01-24effective:2005-01-24

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