Effective May 13, 2013, all companies that previously obtained approval from the PRC State Administration of Foreign Exchange (“SAFE”) for equity compensation grants to PRC nationals working in China are required to obtain a new monitoring code and business registration certificate from the applicable SAFE bureau pursuant to Circular 17 (“Notice on Implementing Information System for Capital Account Items”).
For information on how to comply with the new requirements under Circular 17, please see our recent July 2013 client alert and contact your GES attorney.
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China
October 3 2013
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