(Source: Global Times) China's recently announced rules for overseas transactions using domestic bank cards comply with the country's overall regulation of financial markets and are also vital for fighting money laundering, illegal transfer of assets and tax avoidance, experts noted Sunday.
The State Administration of Foreign Exchange (SAFE) said in a statement on its website on Friday that China's banks will be asked to report on a daily basis their bank card holders' withdrawals in overseas countries and regions starting from September 1, as well as any bank transactions exceeding 1,000 yuan ($146.8). Read more at http://www.globaltimes.cn/
2017 New Regulations and Trends: China Outbound Investments Seminar is taking place on June 6, 2017 in Chicago, Illinois. Please register now at https://2017investusa.eventbrite.com
The State Administration of Foreign Exchange (SAFE) said in a statement on its website on Friday that China's banks will be asked to report on a daily basis their bank card holders' withdrawals in overseas countries and regions starting from September 1, as well as any bank transactions exceeding 1,000 yuan ($146.8). Read more at http://www.globaltimes.cn/
2017 New Regulations and Trends: China Outbound Investments Seminar is taking place on June 6, 2017 in Chicago, Illinois. Please register now at https://2017investusa.eventbrite.com
