New SAFE Circular 59 Further Relaxation of Foreign Exchange Controls over Inbound and Outbound Investments
By DAVID WANG, YI LU, SOPHIE HAN, & CORAL YU
Circular 59 simplifies foreign exchange procedures for foreign direct investments in China. It also relaxes certain requirements in relation to outbound investments by Chinese companies. This development may have a profound effect on inbound and outbound investments, including greenfield/brownfield projects, growth capital investments, and mergers and acquisitions.