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Enquiry: Which foreign exchange regulations does a business need to comply with when initiating foreign exchange receipts and payments related to trade in goods via a bank?

Photo: Enquiry: Which foreign exchange regulations does a business need to comply with when initiating foreign exchange receipts and payments related to trade in goods via a bank?
Photo: Enquiry: Which foreign exchange regulations does a business need to comply with when initiating foreign exchange receipts and payments related to trade in goods via a bank?

In line with the Guidelines for the Foreign Exchange Administration of Trade in Goods, any such business must first secure a listing in the Directory of Enterprises with Foreign Exchange Payments and Receipts for Trade, as curated by the State Administration for Foreign Exchange (SAFE). This requires the business, which must already have been approved to conduct foreign trade, to present the relevant documents to SAFE. Once listed in the directory, which is distributed to banks and other financial institutions across the mainland, the business will be deemed to have been approved to have any requested foreign exchange payments and receipts processed.

Content provided by Picture: HKTDC Research
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