Global

Details

  • Service: Tax, Global Indirect Tax, International Tax
  • Type: Regulatory update
  • Date: 12/3/2013

China - Financial services-related guidance expected for Shanghai trade zone 

December 3:  Since the Shanghai municipal government and other relevant authorities released the first batch of policies governing the pilot free trade zone program for Shanghai in late September 2013, the authorities have subsequently issued further specific notices in order to promote the six major sectors.

Tax professionals in China anticipate that certain financial services-related measures could concern:


  • RMB convertibility
  • Interest rate liberalization
  • Cross-border use of RMB
  • Foreign debt control relaxation
  • Cross-border financing

Read a November 2013 report [PDF 300 KB] prepared by the KPMG member firm in China: Pilot Free Trade Zone Series — Future outlook for China (Shanghai) Pilot Free Trade Zone




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