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Key issues:
- The State Administration of Foreign Exchange (SAFE) issued detailed implementation rules for the Administrative Measures Governing Foreign Exchange of Individuals announced by the People’s Bank of China on 25 December 2006.
- The Measures allow for inflows and outflows of currency to enable deals under employee stock purchase plans (“ESPP”) or stock option plans, either through foreign currency purchases or one’s own foreign currency account.
- The Measures and implementation rules became effective on 1 February 2007.
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