China

Details

  • Service: Tax, China Tax Services
  • Type: Publication series, Regulatory update
  • Date: 3/12/2014

Pilot Free Trade Zone Series — Issuance of Circular on Supporting the Expansion of RMB Cross-border Business in China (Shanghai) Pilot Free Trade Zone 

China Tax Alert - Issue 4, March 2014

 

On 20 February, 2014, the People’s Bank of China Shanghai headquarters issued the Circular on Supporting the Expansion of RMB Cross-border Business in China (Shanghai) Pilot Free Trade Zone to sets out  the specific operational requirements regarding RMB cross-border settlement under current account and direct investment, borrowing RMB from overseas, cross-border mutual RMB cash pooling, and centralised collection and payment for current account transactions etc. 

 

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