By the end of 2015, many free trade zones, such as China (Tianjin) Pilot Free Trade Zone, China (Shanghai) Pilot Free Trade Zone, Xiamen Area of China (Fujian) Pilot Free Trade Zone, etc. (“FTZ”),had published implementing regulations for pilot foreign exchange administration reforms. The implementing rules are generally consistent with innovations in leasing, and these regulations further clarify the foreign exchange administrative policies for finance lease companies. In this legal update, we have combined these implementing rules and other current policies in order to comprehensively analyze the relevant up-to-date foreign exchange administrative policies as they relate to the payment of FTZ finance lease/operating lease rental payments and the purchase of lease assets in foreign currency.
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