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Safe Circular 19 provides new operating instructions on foreign exchange administration for round-trip investment in China

  • Morgan Lewis & Bockius LLP
  • -
  • China, USA
  • -
  • July 18 2011

On May 20, China's State Administration of Foreign Exchange issued the "Operating Instructions on Foreign Exchange Administration for Domestic Residents Engaging in Financing and Round-tripping Investment via Overseas Special Purpose Vehicles" (Circular 19), which came into effect on July 1