BEIJING, December 23, 2011 /PRNewswire-Asia/ -- The American Chamber of Commerce in the People's Republic of China (AmCham-China) applauds the issuance of a new government directive clarifying the ability of foreign companies to reinvest or repatriate corporate income without delay.
"We appreciate the efforts of both the Ministry of Commerce and the State Administration of Foreign Exchange on this matter," said AmCham-China Chairman Ted Dean. "The notice is a helpful clarification that confirms a consistent foreign investment policy in China and will make it easier for foreign-invested companies to put profits to the most efficient use. A number of our member companies had hoped for such a resolution so that they could continue to reinvest income back into China, which will in turn benefit the Chinese economy."
The chamber urged authorities to ensure that the notice is broadly circulated at the provincial and local level.
The text of the notice (in Chinese) is available here:
MOFCOM and SAFE Announcement on Further Improving Administrative Measures of Foreign Investment Companies
http://www.mofcom.gov.cn/aarticle/b/f/201112/20111207874290.html
About the American Chamber of Commerce in the People's Republic of China:
AmCham-China is a national non-profit organization representing the interests of some 2,600 companies and individuals doing business throughout China. Headquartered in Beijing, it has chapters in Dalian, Central China (Wuhan) and Tianjin. For more information about the organization, visit: www.amchamchina.org