China -  Chinese law firm

How do the tightened Forex measures affect FIEs?

First, purchasing Forex with RMB for the early repayment of Forex Loans is prohibited; secondly, SAFE may refuse FIEs Forex loan registration; thirdly, Forex collateral used to secure a RMB loan needs to be registered with SAFE and lastly, certain current account transactions need approval from SAFE.

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