Understanding China’s foreign exchange rules is never an easy job, esp in an era when China is aggressively reforming its financial systems. A new rule can well be revised in a few months.

On June 9, 2016, China SAFE (State Administration of Foreign Exchange) issued its new Decree No. 16, entitled “关于改革和规范资本项目结汇管理政策的通知” (in English, …