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SAFE Relaxes Control over Provision of Cross Border Security

22 May 2014

On 19 May 2014, the State Administration of Foreign Exchange (SAFE) released the long awaited Foreign Exchange Administrative Provisions on Cross-Border Security and its implementation guidelines (collectively the New SAFE Regulations).

The New SAFE Regulations will take effect on 1 June 2014 and will supersede a series of regulations previously issued by SAFE and bring substantial changes to the current cross-border security regime (also known to some as the foreign security regime).

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