China delegates foreign exchange approvals
Author: | Published: 20 May 2009
Chinas State Administration of Foreign Exchange
(Safe) has announced it will streamline approval procedures
for foreign exchange business applications. But the move
appears to be more symbolic than substantive.
The changes, which are part of an attempt to boost foreign
direct investment (FDI) into the country, will see
Safes local bureaus take over 10 foreign exchange
categories, including applications for opening capital
accounts by foreign-funded...