On May 11, 2013, the State Administration of Foreign Exchange (“SAFE”) issued the Provisions for Administration of Foreign Exchange Relating to Inbound Direct Investment by Foreign Investors ( “Circular 21”), effective May...more
Chinese investments abroad have increased significantly in the past decade. Chinese enterprises (both private enterprises and state-owned enterprises, or SOEs) are heeding the Chinese government’s “venture out” (or zouchuqu)...more
On November 21, 2012, China’s State Administration of Foreign Exchange (“SAFE”) released a new circular, “Circular on Further Improvement and Amendment of Foreign Exchange Control Policies on Direct Investment ([2012] No....more
In This Issue: SAFE Issues Notice of State Administration of Foreign Exchange on Further Improving and Adjusting Foreign Exchange Policies Related to Direct Investment; SAFE Makes Revisions to Provisions on Foreign...more
The South Korean banking sector is already well ahead of international regulatory benchmarks for capital requirements, according to Lee Sangche, deputy chairman for international affairs at the Financial Services Commission,...more
Is the State Administration of Foreign Exchange (“SAFE”) finally loosening its grip on foreign exchange transactions? Not exactly - the baseline principle of control and scrutiny over the flows of money into and out of China...more
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