Home  Contact Us
  Follow Us On:
Advertising Advertising Free Newsletter Free E-Newsletter

China reiterates no restrictions on foreign firms' profit transfers
Published on: 2017-01-25
Share to
User Rating: / 0

040A senior foreign exchange official has reiterated that there are no restrictions on foreign firms' cross-border profit transfers.

Authorities will maintain the continuity and consistency of its forex policies, said Pan Gongsheng, head of the State Administration of Foreign Exchange (SAFE), when meeting Joerg Wuttke, president of the EU Chamber of Commerce in China.

China will also make foreign trade and investment more convenient and support Chinese companies' outbound investment as long as it's authentic and compliant, Pan said, as quoted by a SAFE statement released Tuesday.

With its economy growing 6.7 percent in 2016, China has the conditions to ensure balance of international payment, Pan said.

He promised that China will create an easy and ordered environment for investment and a more transparent and regulated market.

Weighed on by a weak Chinese yuan against the US dollar, regulators have moved to crack down on illegal cross-border capital flow in the past few months, while reiterating that normal business will not be affected and foreign investment is still welcome.

Comments (0)Add Comment

Write comment

security code
Write the displayed characters

    Subscription    |     Advertising    |     Contact Us    |
Address: Magnetic Plaza, Building A4, 6th Floor, Binshui Xi Dao.
Nankai District. 300381 TIANJIN. PR CHINA
Tel: +86 22 23917700
E-mail: webmaster@businesstianjin.com
Copyright 2018 BusinessTianjin.com. All rights reserved.