Analysis & Trends

20 February 2014

SAFE further relaxes foreign exchange controls

On January 24, 2014, the State Administration of Foreign Exchange (“SAFE”) released the Circular on Further Improving and Adjusting Foreign Exchange Policies for Capital Accounts (Hui Fa [2014] No.2) ( “Circular 2”). Circular 2, which went into effect on February 10, 2013, removes or streamlines certain regulatory checks on capital accounts that existed under previous laws.

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