外汇各个重要文的中英文对照

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1、中国法律简报No.05January2006CHINA’SNEWFOREIGNEXCHANGEREGULATIONLIFTSThisissuecovers:本期内容：MORATORIUMONOFFSHORERESTRUCTURINGSByKevinBan(kevin.ban@weil.com)Feature:OffshoreRestructuring境外重组专栏........................................1OnOctober21,2005,theStateAdministrationofFore

2、ignExchangeRecentChineseLaws(“SAFE”)ofthePeople’sRepublicofChina(“PRC”)issuedCircularNo.近期中国法律75onIssuesRelatingtotheAdministrationofForeignExchangeinRespectofFinancingsandReturnInvestmentsbyPRCResidentsthroughOffshoreOffshoreFinancing/境外融资SpecialPurposeVehicles(“Circ

3、ular75”).•ForexAdministrationofOffshoreFinancingandReturningInvestmentCircular75narrowsconsiderablythescopeoftheregulatorywebwhichhad境外公司融资及返程投资外汇管理...4beeninstitutedbyCircularNo.11andCircularNo.29promulgatedbytheSAFEinJanuary2005andApril2005,respectively(the“OldCircu

4、lars”)1.•PerfectingForeignDebtsAdministration完善外债管理.....................................7InadditiontoexpresslyvacatingtheOldCirculars,Circular75establishesamuchmorepreciseregulatoryschemewhichbringsintoitscoverageonlyForeignGuarantee/对外担保thosetransactionsthatwereargua

5、blytheintendedtargetsoftheOld•AdjustingAdministrationofCirculars.Furthermore,Circular75spellsouttheproceduralstepstobeDomesticBanks’ForeignGuarantees调整内资银行外汇担保管理方式.....10takeninconnectionwith,andclearsthewayfor,offshorerestructuringsthathadpreviouslybeenusedbymanyPRCe

6、nterprisesinreorganizingtheirForeignInvestment/外商投资corporatestructuressoastofacilitateinvestmentsbyforeigninvestorsand•RefundofEnterpriseIncomeTaxfortoultimatelyeffectuatelistingsonforeignstockexchanges.ReinvestmentbyForeignInvestors退还外国投资者再投资的企业所得税I.EndtotheMoratoriu

7、monPrototypicalOffshoreRestructurings..........................................................13ThefirststepintheprototypicaloffshorerestructuringofaPRCenterpriseis•ApprovalofEarlyInvestmentRecoverytheestablishmentofanoffshoreentitybythefoundersorkeyshareholdersbyFor

8、eignInvestorsofthePRCenterpriseinquestion,whichindividualstendtobePRC批准外国投资者先行收回投资.........15residents.ShareStructureReform/