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Safe circular on issues concerning foreign exchange controls in encouraging and guiding the healthy development of private investment
- White & Case LLP
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- China
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- August 1 2012
On June 11, 2012, the State Administration of Foreign Exchange (“SAFE”) issued the Circular on Issues Concerning Foreign Exchange Controls in Encouraging and Guiding the Healthy Development of Private Investment (Hui Fa 2012 No. 33) (the “Circular”), which involves critical changes in foreign exchange controls for outbound investment
Federal Reserve approval of ICBC acquisition clears the way for Chinese bank acquisitions of US banks
- White & Case LLP
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- China, USA
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- May 10 2012
On May 9, 2012, the Board of Governors of the Federal Reserve System (“Board”) issued an order approving the first acquisition of a US bank by a bank organized under the laws of the People’s Republic of China (“ICBC Order”
China further expands the use of RMB through cross-border foreign direct investment
- White & Case LLP
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- China
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- November 15 2011
On October 14, 2011, the Ministry of Commerce (“MOFCOM”) issued the Circular on Issues Relating to Cross-border Direct Investment in RMB (“MOFCOM Rules”), and on the following day, the People’s Bank of China (“PBOC”) issued the Measures on Administration of the RMB Settlement in Connection with Foreign Direct Investment (“PBOC Rules”
“Journey home” programs: investment with offshore RMB in mainland China and domestic borrowing of offshore RMB
- White & Case LLP
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- China
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- April 15 2011
Following the development of offshore RMB trade settlement and dynamic growth of RMB bond issuance and lending in Hong Kong, China has recently taken an important further step to internationalize the RMB by launching pilot programs to allow offshore RMB to be invested back in Mainland China
ICBC's agreement to acquire a controlling stake in a US bank is a major development for the US and Chinese banking markets
- White & Case LLP
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- China, USA
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- February 8 2011
In a groundbreaking transaction, Industrial and Commercial Bank of China Limited, based in Beijing and the world’s largest bank by market capitalization and profitability (ICBC), entered into an agreement with The Bank of East Asia, Limited, a major Hong Kong bank (BEA), to purchase an 80 percent common equity stake in BEA’s subsidiary bank based in New York, The Bank of East Asia (U.S.A.) National Association (BEA-USA
Shanghai headquarters of PBoC restricts loans to foreign-invested real estate projects
- White & Case LLP
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- China
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- August 1 2008
On 25 May 2008, the Shanghai headquarters of the People’s Bank of China (PBoC) issued the Guidelines on Credit Flow in Shanghai 2008 (the “Guidelines”) as a continuance of its effort in the macroscopic control of the city’s credit flow
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- Jurisdiction - China
- Firm Name - White & Case LLP
- Workarea - Banking
- Workarea - Corporate Finance/M&A