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Article: IN BRIEF (Page: 6, Date: 03/19/2003)
- Article from:
- China Daily
- Article date:
- March 19, 2003
CopyrightCopyright 2003 China Daily. Provided by ProQuest LLC. (Hide copyright information)
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BEIJING
Forex purchase control eased
The State Administration of Foreign Exchange (SAFE) issued a
circular yesterday, sparing Chinese importers the obligations to
report to SAFE their use of forex in three categories of foreign
trade.
Starting April 1, importers can, in certain trading situations it
did not elaborate, directly purchase forex from banks with necessary
import documents without registering with SAFE offices, the
administration said.
The SAFE said the streamlining could help foreign trade companies
improve efficiency "without heightening regulatory risks and reducing
regulatory efficiency."
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