Foreign Exchange Control in China, 2nd Edition

‘Foreign Exchange Control in China’ lays out comprehensively the compliance requirements, procedures, and documentation for the conduct of foreign exchange transactions in China.

 
Written in an easy-to-read format, the book is designed to help readers understand and handle the various complicated aspects and requirements of foreign exchange control in China. Compliance requirements for the current and capital accounts, foreign exchange settlements, use and administration of foreign exchange accounts, foreign debts and guarantees, import, export, service trade, bonded zones and qualified foreign institutional investors are closely examined with a list of the procedures to follow and applicable documentation provided. Contents are specially included to assist foreign investors deal with foreign exchange requirements whilst operating in China, including those for capital movements and remittance of profits and dividends out of China.
 
Foreign Exchange Control in China is an indispensable guide to foreign investors to China and multinational companies as well as to lawyers, financial, accounting and tax professionals.
 
The picture has altered for foreign exchange rules in China as of July 2008. Clearly, a new edition of this essential handbook is absolutely necessary for companies and their counsel.
 
In a sweeping move to curb speculative inflows, the State Council has amended the Rules of the People’s Republic of China on Foreign Exchange Control, subjecting all transactions involving transfers of foreign currencies to greatly heightened scrutiny. Among much else, the new rules require:

• new kinds of evidentiary documentation for every transfer;
• new and much more stringent controls over conversion of foreign exchange capital into RMB; and
• new measures to monitor foreign currency inflows.

 
The consequent pressures on fund management for both importers and exporters demand significant changes in business strategy. It is in this connection that the Second Edition of Foreign Exchange Control in China is of immeasurable value to foreign investors and multinational companies as well as to legal, financial, accounting and tax professionals. The new edition covers the changes in depth, with CCH’s well-known practice-oriented perspective still fully in evidence.
 
Since its original publication five years ago, Foreign Exchange Control in China has been widely appreciated for its user-friendly, comprehensive explanation of the documentation requirements and procedures encountered in the course of conducting foreign exchange transactions in China. The Second Edition retains its penetrating focus on explicit compliance in all aspects of foreign exchange transactions – qualifying as an institutional investor, current and capital accounts, settlements, administration, inspection and penalties, foreign debts and guarantees, service trade, bonded zones, remittance of profits and dividends out of China, and much more, including special measures covering financial institutions and mergers and acquisitions.
 
As in the first edition, the Second Edition highlights flow charts and other graphic features that make regulations, procedures and documentation requirements instantly understandable. Complete texts of major regulatory sources are also included.
 
Features and Benefits:

• Includes practical guidelines, pointers and flow charts for easy reference of procedures, documentation and regulations
• Places special emphasis on foreign exchange control requirements applicable to foreign investors and operations in China
• Provides the complete text of major regulations