Shanghai Branch of the State Administration of Foreign Exchange, Implementing Rules for Foreign Exchange Control to Support the Establishment of the China (Shanghai) Pilot Free Trade Zone
国家外汇管理局上海市分局支持中国（上海）自由贸易试验区建设外汇管理实施细则
April 11, 2014 | BY
clpstaff &clp articles &Forex registration for FDI in the Shanghai free trade zone streamlined.
Issued: February 28 2014
Main contents: The Rules simplify the procedures for foreign exchange registration in relation to direct investment, delegating to banks the authority to carry out the procedures for foreign exchange control registration and amendment of registration in connection with direct investment. They relax the upper limit on loans extended abroad by enterprises in the FTZ, abolish examination and approval requirements for claims in connection with offshore lease financing and permit rent to be charged in foreign currencies by the domestic lease financing business. They improve the pilot foreign exchange control policies with respect to the centralised operation and management of foreign exchange by the headquarters of multinational corporations, of foreign currency fund pools and of international trade settlement centres.
Issued: February 28 2014
Main contents: The Rules simplify the procedures for foreign exchange registration in relation to direct investment, delegating to banks the authority to carry out the procedures for foreign exchange control registration and amendment of registration in connection with direct investment. They relax the upper limit on loans extended abroad by enterprises in the FTZ, abolish examination and approval requirements for claims in connection with offshore lease financing and permit rent to be charged in foreign currencies by the domestic lease financing business. They improve the pilot foreign exchange control policies with respect to the centralised operation and management of foreign exchange by the headquarters of multinational corporations, of foreign currency fund pools and of international trade settlement centres.
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