The State Administration of Foreign Exchange (SAFE) of China recently released a Circular in an effort to ease foreign exchange control over foreign direct investment (FDI) and M&A in China. Under the new rules, SAFE approval will no longer be required in a number of items, and banks will play a more important role in facilitating the transactions by verifying the underlying documents and reporting to SAFE. Foreign investors will benefit from the simplified procedures and shortened timeframe to handle foreign exchange matters. The Circular will become effective on December 17, 2012. For more details on the Circular, please click here and read the full article published by Jun He Law Office, a top full service law firm in China.