HOW TO USE OFFSHORE RMB如何使用离岸人民币.pdfVIP

3 Legal Update Banking Finance Mergers Acquisitions Real Estate Hong Kong, Mainland China 24 October 2011 New Ways to Use Your Offshore RMB: MOFCOM and PBoC Join Hands to Put Finishing Touches on RMB FDI Rules In a clearly concerted effort, the PRC Ministry of “MOFCOM Erects Signpost for Cross-border RMB Commerce (“MOFCOM”) issued on 12 October 2011 FDI” of 29 August 2011) (the “Consultation Draft”). a Circular on Relevant Matters concerning Direct Investment using Cross-border RMB (“Circular No. Comparison with the Consultation Dr aft 889”) and the People’s Bank of China (“PBoC”) It appears that there are three major differences announced on 13 October 2011 the Administrative between Circular No. 889 and the Consultation Draft Measures on RMB Settlement for Foreign Direct in respect of permitted areas for cross-border RMB Investment (“PBoC Measures”). These new rules investment. were both promulgated on 14 October 2011 and have clarified, from the regulatory and banking settlement • Strategic investment in listed companies perspectives, a number of remaining issues left by Under the Consultation Draft, no cross-border previous rules of these two central governmental RMB funds may be invested directly