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
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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