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Winper Logistics Inc.
Beijing, China
Tel: 86-10-82563855
Fax: 86-10-82563856
Email: service@winper.com
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Resources >> Foreign Exchange Control
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Foreign Exchange Control |
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The Foreign Exchange Control of China involves government monitoring of import payment, the report & verification of export, the electronic port and so on.
- Namely, every payment to the foreign country needs to co-relate to the import or other foreign trade activity. Only with some legal documentation as proof of these activities, can the importer pay the exchange. This rule now is not that tightly enforced since China is in a surplus trade status.
- The export veification requires that every export must receve the payment and report to Foreign Exchange Control Bureau. This is the policy that government uses to assure enough exchange in central bank.
- The electronic port refers to the situation that, the customs, the foreign exchange administrative bureau, the bank and the enterprise all connect through a special private network to communicate, deal payment and file report. It has become the anchor of the import/export business recently.
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