Reform of Foreign Exchange Transaction Rules
Reform of Foreign Exchange Transaction Rules

Reform of Foreign Exchange Transaction Rules

  • 01
    Reform of Foreign Exchange Transaction Rules
  • 02
    Improve conveniences of foreign exchange transactions

    Direction of forex transaction rules revision

    Improve conveniences of foreign exchange transactions

    Expand overseas remittance limits without documentary evidence $50,000 a year → $100,000 a year

    Reduce procedures of advance notice to banks for capital transactions 111 types → 65 types

  • 03
    Resolve inconveniences in foreign currency borrowing and overseas investment

    Direction of forex transaction rules revision

    Resolve inconveniences in foreign currency borrowing and overseas investment

    Ease reporting requirements for large-scale foreign currency borrowing $30 million a year → $50 million a year

    Abolish the requirement of frequent reporting and simplify regular reporting for foreign direct investment

  • 04
    Build the competitiveness of forex transaction services

    Direction of forex transaction rules revision

    Build the competitiveness of forex transaction services

    Expand approvals for more securities firms to engage in the currency exchange business Mega investment banks (4 firms) → Large secturities firms (9 firms)