2009-5-19 13:56:31Notice of the State Administration of Foreign Exch

Notice of the State Administration of Foreign Exchange on Adjusting the Examination and Approval Power for Some Foreign Exchange Businesses under Capital Accounts

(No.21 [2009] of the State Administration of Foreign Exchange)

The branches and foreign exchange administrative departments of the State Administration of Foreign Exchange in all provinces, autonomous regions and municipalities directly under the Central Government, and branches of the State Administration of Foreign Exchange in Shenzhen, Dalian, Qingdao, Xiamen and Ningbo:

To simplify the formalities and procedures for administrative examination and approval and facilitate investment and trade, according to the Administrative License Law of the People’s Republic of China, the Regulation of the People’s Republic of China on Foreign Exchange Administration and other relevant provisions on foreign exchange administration, the State Administration of Foreign Exchange (SAFE) has decided to adjust the examination and approval power for some foreign exchange businesses under capital accounts. We hereby notify you of the relevant issues as follows:
 

I. The power to examine and approve an application of a foreign-funded enterprise for opening a capital account at a different place shall remain with the SAFE branch or foreign exchange administrative department of the place where the enterprise is located.
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