Linklaters Insights: NDRC issues decision in landmark case against Qualcomm and imposes record fine of RMB 6.088 billion
24 March 2015
New measures of the PBOC have reformed the approval and quota-based system for borrowing RMB and foreign exchange outside China. The new measures allow more flexibility for corporates and non-bank financial institutions incorporated in the Shanghai Free Trade Zone, as well as the separate SFTZ accounting units of Shanghai-based banks for business booked in the SFTZ, to structure their foreign debt profiles.
The publication of the measures marks the start of the third wave of SFTZ financial reform following the release of the PBOC’s blueprint for financial reform in 2013 and the roll-out of the free trade account system in 2014.
The full article is available on the Linklaters website.