.contact us |.about us

Highlights ... ...
Search:
    Advertisement
Limits on outbound investment eased
( 2003-07-29 11:34) (China Daily HK Edition)

Chinese companies investing overseas need not deposit a guarantee amount on the mainland, according to a circular released by the State Administration of Foreign Exchange (SAFE), China's foreign exchange watchdog.

And those who have done so have to withdraw the amount, together with interest, before April next year.

Investors reclaiming such deposits should submit their business licences while companies which have undergone a shift in ownership should produce relevant documents justifying the change.

The payment will only be made to parties currently enjoying the rights and benefits of outbound investments; bankrupt companies, for example, will not be eligible for refunds, SAFE said.

Failure to claim the deposit by the April deadline would be considered voluntary renunciation.

The new policies come as a big relief to investors.

"The move is expected to encourage more Chinese investors to go abroad and tackle the increasingly-fierce international competition," SAFE commented.

The elimination of deposits would reduce costs of Chinese investment in foreign countries and will help them develop their business overseas, experts said.

Under old rules, domestic investors had to deposit in the mainland 5 per cent of their cash investment abroad or 25 per cent of the value of equipment used as investment; and violators were subject to fines of up to 100,000 yuan (US$12,091).

The new policies are part of China's series of efforts to reform foreign-exchange administration.

In 2002, restrictions on the volume of foreign exchange that could be purchased for overseas investment were eased; as were those on loans in foreign exchange in Shanghai and the provinces of Jiangsu, Zhejiang, Shandong and Fujian.

Also reformed was the risk evaluation system for foreign exchange to be invested abroad and the procedures to apply for foreign currencies.

Chinese companies are increasingly turning towards overseas investment to buoy their performances.

Shanghai Auto Industry Corporation (SAIC), for instance, participated in the purchase of Korea's Daewoo Motor Corporation; and Shanghai Baosteel Group Corporation launched an overseas branch in Brazil last year.

According to experts, China's reforms on foreign exchange will gradually help expand overseas investment, diversify investment destinations, and optimize investment scope.

   
Close  
  Go to Another Section  
     
 
 
     
  Article Tools  
     
  E-Mail This Article
Print Friendly Format
 
     
   
        .contact us |.about us
  Copyright By chinadaily.com.cn. All rights reserved  
主站蜘蛛池模板: 日韩免费高清一级毛片在线| 国产一级二级三级在线观看| 国产成人AV无码精品| 午夜精品久久久久久| 亚洲欧洲精品视频在线观看| 久久精品国产一区二区三区肥胖| 中文字幕无码日韩欧毛| 97视频资源总站| 草久视频在线观看| 欲惑美妇老师泛滥春情在线播放| 日韩不卡视频在线观看| 天天在线综合网| 国产国语一级毛片在线视频| 免费播放在线日本感人片| 亚洲视频你懂的| 久久狠狠高潮亚洲精品| 99久久免费精品视频| 被夫の上司持久侵犯奈奈美| 男女一进一出呻吟的动态图| 特黄黄三级视频在线观看| 波多野结衣加勒比| 日韩在线小视频| 国产精品亚洲精品日韩已满| 制服丝袜第六页| 亚洲av无码专区在线观看下载| 中文字幕亚洲天堂| 99国产欧美久久久精品| 试看91福利区体验区120秒| 添bbb免费观看高清视频| 最新国产中文字幕| 强波多野结衣痴汉电车| 国精产品wnw2544a| 国产精品永久免费| 国产成人精品视频一区二区不卡 | 最近免费中文字幕大全高清10| 成年女人a毛片免费视频| 国产麻豆剧果冻传媒免精品费网站| 国产三级在线观看视频不卡| 夜夜未满18勿进的爽影院| 国产高清一区二区三区视频| 99久久99久久久精品久久|