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Wenzhou Is Allowed To Invest Directly In &Nbsp; Restricted Investment Industry.

2011/1/11 11:05:00 64

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Wenzhou Investment Industry

According to the Shanghai Securities Journal,

Wenzhou City

Approved for direct marketing in overseas markets including Hongkong.

Personal investment

It became the first province in the mainland to allow personal funds to go free.

Wenzhou recently released "Wenzhou city individual"

Overseas Direct Investment

The pilot scheme allows over 18 years of age to own Wenzhou's household registration and obtain private passports for overseas investment.

According to the pilot scheme, investors can use their own foreign exchange funds, Renminbi to purchase foreign exchange and other foreign exchange assets approved by the foreign exchange bureau for overseas direct investment.

Profits from overseas direct investment can be retained abroad for reinvestment abroad.

The investment mode is limited to the establishment of non-financial enterprises overseas or the acquisition of the rights and interests of the ownership, control and management rights of the existing non-financial enterprises through new ways, mergers and acquisitions and equity participation. However, investment does not allow for energy and mineral resources.

At the same time, the amount of overseas investment by investors should not exceed $3 million. If a number of investors jointly implement an overseas direct investment, the total investment will not exceed $10 million, and the total annual amount of individual overseas direct investment will not exceed $200 million.

At present, the channels for Chinese residents to invest abroad are very limited.

Generally speaking, domestic residents can only invest in B shares, QDII products (financial products invested in overseas markets), foreign currency financial products issued by commercial banks, or foreign exchange and gold trading.

Zhou Xiaoping, director of the external economic and Trade Bureau of Wenzhou, said that the introduction of the pilot scheme will help broaden the channels for private capital outflow in Wenzhou and further promote private capital to participate in international competition and international cooperation.

At the same time, the "going out" of private capital, besides engaging in traditional manufacturing industry in Wenzhou, will develop in the direction of larger profit margins, such as R & D, sales and so on, which will help promote the pformation and development of Wenzhou's open economy.

Zhou Dewen, President of the Wenzhou SME Promotion Association, said that Wenzhou has 800 billion to 1 trillion yuan of liquid capital, which makes it easier to invest overseas.

Wenzhou people buy their homes overseas through underground banks or friends and relatives abroad.

Zhou Dewen believes that although the pilot scheme is clearly not allowed to "speculation", every investment will be strictly examined and approved, but if Wenzhou people set up factories overseas, it is understandable to purchase land and property of enterprises, and I believe it will benefit from the new policy.