The State Administration of foreign exchange issued the ” guidelines for foreign exchange business of current account (2020 Edition)”, which is the first time for China to systematically sort out the current account foreign exchange policy. 65 existing laws and regulations are integrated and 29 normative documents are abolished. The guidelines mainly focus on streamlining some application materials and optimizing the business process without involving substantive changes and adjustments of existing policies. There are eight chapters, 22 sections and 190 articles in the guidelines, covering the current account foreign exchange business of enterprises, individuals, financial institutions, Payment institutions and otherRead More →
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