Cross-bor­der yuan di­rect in­vest­ment to be loos­ened

China Daily (Hong Kong) - - BUSINESS DIGEST -

The Min­istry of Com­merce an­nounced on Mon­day that it will fur­ther loosen con­trol on cross-bor­der yuan di­rect in­vest­ment in an ef­fort to fa­cil­i­tate in­vest­ment. Un­der the new reg­u­la­tion, ap­proval pro­ce­dures for yuan-de­nom­i­nated di­rect in­vest­ment from over­seas in­vestors will be fur­ther sim­pli­fied. The new reg­u­la­tion takes ef­fect on Jan 1, 2014. In cross-bor­der yuan di­rect in­vest­ment, for­eign in­vestors use legally ac­quired yuan to make in­vest­ments in China by found­ing com­pa­nies, in­creas­ing in­vest­ment or par­tic­i­pat­ing in merg­ers with and ac­qui­si­tions of do­mes­tic en­ter­prises, the min­istry said in a state­ment.

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