China Seeks to Facilitate Capital Flows to Woo Foreign Investors
- Shanghai says legitimate money transfers should not be delayed
- Beijing is inviting public feedback on similar regulations
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China repeated rules to ensure free cross-border money transfers for foreign businesses in its two most important cities amid efforts to win back companies as overseas investment slumps and the economy slows.
In Shanghai’s pilot free-trade zone and Lingang area, officials should make sure foreign investors can freely transfer their investment-related funds in or out of China without delay if the money is “real and compliant,” authorities in the financial hub said in a set of rules that took effect on Sept. 1.