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BIZCHINA> Top Biz News
Forex asset rules tweaked
(China Daily)
Updated: 2009-07-14 11:21

China yesterday made it easier for overseas-registered companies to manage their foreign exchange assets in the country, a move that will help Chinese firms do business abroad through their subsidiaries.

The State Administration of Foreign Exchange said the new rule permits any company registered abroad to open an onshore forex account at a Chinese or foreign bank without regulatory approval.


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