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SIP Holds Training on Policies on Foreign Exchange Control
 
National Administration for Foreign Exchange Control recently publicized “Notification of National Administration for Foreign Exchange Control on Issues Concerning Foreign Exchange Control in Bonded Logistic Parks” (Circular No.92, 2005), specifying the methods of receipt and payment by bonded logistic centers (Type B) with domestic and overseas entities and other customs-controlled special areas. The notification indicates concrete support for the development of the bonded logistic center in SIP, and facilitates the trading in the course of logistic operations.


 

To better implement the policies specified in the “notification”, Suzhou Sub-branch of National Administration for Foreign Exchange Control held a publicity conference at  SIP International Building, with the attendance by 140 representatives from over 80 banking corporations and enterprises. Zhao Kun, Dept. Chief for Project Management from the Municipal Administration of Foreign Exchange Control, gave a detailed introduction to the background of the notification and the specific methods of payment in foreign exchange in different circumstances of trading, and replied to the questions of those present. The representatives at the conference all agreed that the implementation of the “notification” would further improve the cash flow of enterprises and enhance their confidence in the operation of SIP boned logistic center.

Jan. 16, 2006

   
 
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