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Edwarde Webre was recently interviewed by The Corporate Treasurer regarding China’s State Administration of Foreign Exchange. The agency has recently revoked and replaced 34 foreign exchange rules to ease documentary requirements on foreign exchange.
Commenting on the development, Edwarde said: “SAFE’s recent new regulations about cross-border renminbi and cash pooling are inconsistent with its old regulations.” The 16 eliminated rules do away with various requirements on banks that have been deemed inconsistent with SAFE's drive to cut down on documentation required for foreign exchange.
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