Overview

With an aim of expanding offshore funding sources of domestic entities and encouraging outbound investment by domestic entities, the State Administration of Foreign Exchange (SAFE) published the Provisional Measures regarding Administration of Offshore Deposit of Incomes of Export Trade of Goods (Provisional Measures) in August 2010, which were implemented as a pilot scheme in four cities and provinces from October 1, 2010.

The Provisional Measures have now been implemented on a nationwide basis, and any eligible domestic entity may apply to SAFE to deposit into offshore accounts their foreign exchange income derived from export trades of goods.

Baker & McKenzie provides a brief introduction to the Provisional Measures.

To read more click ‘view briefing’.