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  Organizing committee
Honorary Chairman:
Mengfu Huang, Vice Chairman of the 10th CPPCC National Committee and Chairman of the All China Federation of Industry & Commerce
Chairmen:
Xianglong Dai
Deputy Secretary of Tianjin CPC and Mayor of Tianjin
Deping Hu
Vice Minister of the Propaganda Department of the Communist Party of China and Vice Chairman of the All China Federation of Industry & Commerce
Zhezhu Quan
Vice-President of the All China Federation of Industry & Commerce, and a Member of the ACFIC Secretariat
  

What are the possible ways and channels for remitting fund abroad when the Privately Raised Fund withdraws investment from the enterprises in China under the current China’s policies?
 DATE: 2007-12-13
   Answer: 
   1. in accordance with China’s regulations on foreign exchange administration, the foreign investors in the foreign-invested companies can apply to the Bureau of Foreign Exchange with relevant documents for the remitting of the profit and bonus after paying the tax as stipulated by law. With the approval of the Bureau of Foreign Exchange, it will be paid through their foreign exchange accounts or it can be cashed in the designated banks with the notification of sales of foreign exchange issued by the Bureau of Foreign Exchange.
 
  2. In the foreign-invested enterprises which ceased business in accordance with law, all the RMB currencies belonging to the foreign investors can be remitted to abroad after exchange for foreign currencies at the designated banks or be taken abroad after clearing and paying the tax.
 
   3. The profit, stock dividends and bonus of the foreign investors in foreign-invested enterprises in the bonded zones can be remitted through the basic foreign currency accounts by presenting Foreign Exchange Registration Certificate in Bonded Areas passing the yearly inspection, the resolution on the profit distribution by the board of directors, and tax payment receipt.
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