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
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.
Expatriates of foreign companies based in those areas, including staff from Hong Kong, Macau or Taiwan, can freely move their wages and other legal incomes out of the country according to the law. The currency type, amount or frequency of the remittances won’t be restricted by an organization or individuals, according to the Shanghai notice. published Wednesday that are now awaiting public feedback.
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