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SAFE Liberalises Rental Currency Denomination under Domestic Leases

30 November 2017

In October 2017, the State Administration of Foreign Exchange ("SAFE") of the People's Republic of China ("PRC") promulgated The Circular on Relevant Issues of Foreign Exchange Administration of Financial Leasing Business ("Circular 21") which allows lease rentals under domestic leases to be denominated in USD if certain conditions are satisfied.

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