New cur­rency rules ap­plied in Ping­tan zone, Xin­hua says

China Daily (Canada) - - BUSINESS -

A pack­age of new­for­eign-cur­rency rules has been im­ple­mented at the Ping­tan Com­pre­hen­sive Pi­lot Zone, ac­cord­ing to a re­port on Xin­hua quot­ing sources at Fuzhou Cen­tral Sub-branch of the Peo­ple’s Bank of China. Un­der the newrules, for­eign-in­vested com­pa­nies in the PCPZ are al­lowed to bor­row off­shore funds equiv­a­lent to as much as twice their net as­sets at the end of the pre­vi­ous year. For Chi­nese com­pa­nies, short-term over­seas loans should not ex­ceed half of their net as­sets. The newmea­sures also support PCPZ’s busi­nesses is­su­ing yuan-de­nom­i­nated bonds in Tai­wan.

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