State Administration of Foreign Exchange, Circular on Issues Relevant to Foreign Exchange Control Involved in the Restructuring of Foreign-invested Banks

国家外汇管理局关于外资银行改制所涉外汇管理有关问题的通知

SAFE sets forth procedures concerning foreign exchange matters in the restructuring of foreign-invested banks.

2 minute readApril 02, 2007 at 12:58 AM

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Issued: March 20 2007

Main Contents: The Circular covers the following foreign exchange control issues involved in the restructuring of branches of foreign banks into wholly foreign-owned banks:

(1) business qualifications: qualifications for engaging in businesses of spot settlement and sale of foreign exchange, forward settlement and sale of foreign exchange, swaps between renminbi and foreign currencies,

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