Wenzhou Pilot Policy for Direct Foreign Investment Put on Hold
Published:
2011-01-25
The State Administration of Foreign Exchange (SAFE) has required its Wenzhou subsidiary to halt its pilot program for direct individual investment in foreign countries. Zhou Xiaoping, director of the foreign economics department of the Wenzhou Foreign Economics and Trade Bureau, has admitted that the pilot policy did not receive central government approval before permitting local citizens to invest abroad.
Source
Lianhe Zaobao
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