TOP TIPS: China simplifies IPO proceeds repatriation

China’s forex regulator issued a new guideline on January 28 simplifying the repatriation of IPO proceeds raised by China Inc abroad. Jerry Zhang (pictured) of Cadwalader, Wickersham & Taft explains how Circular 7 works.

By I-Ching Ng

Feb 18, 2013

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What does Circular 7 from State Administration of Foreign Exchange (Safe) entail?
The Circular of The State Administration of Foreign Exchange on Relevant Issues on Foreign Exchange Administration of Overseas Listings ("Circular 7") simplifies and streamlines the foreign exchange regulation over overseas listings by domestic companies mainly in the following aspects:

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