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China tightens rules on foreign investment firms
by hlk Wed 14 Dec 2011, 12:54
BEIJING (Dec 14): China has published new rules on foreign-funded
investment firms, including barring them from using loans obtained
inside China to finance their expansion, the International Business News
reported on Wednesday.
Under the rules jointly issued by the Ministry of Commerce and Chins
State Administration of Foreign Exchange (SAFE), foreign investment
firms can tap their yuan profits, funds from liquidation of their
existing projects or share transfers for reinvestment in their
businesses.
The report did not explain why foreign-funded investment firms were being barred from using local loans for expansion.
Their investment activities in China must be approved by the SAFE, China's foreign exchange regulator, the rules stated.
A foreign-funded investment company refers to a foreign company that
is engaged in direct investment activities in China, according to the
rules. - Reuters
investment firms, including barring them from using loans obtained
inside China to finance their expansion, the International Business News
reported on Wednesday.
Under the rules jointly issued by the Ministry of Commerce and Chins
State Administration of Foreign Exchange (SAFE), foreign investment
firms can tap their yuan profits, funds from liquidation of their
existing projects or share transfers for reinvestment in their
businesses.
The report did not explain why foreign-funded investment firms were being barred from using local loans for expansion.
Their investment activities in China must be approved by the SAFE, China's foreign exchange regulator, the rules stated.
A foreign-funded investment company refers to a foreign company that
is engaged in direct investment activities in China, according to the
rules. - Reuters
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