04 December 2023
On 4 December 2023, the State Administration of Foreign Exchange issued the “Notice on Expanding the Pilot Program for High-level Opening of Cross-border Trade and Investment” (“the Notice”). The Notice is applicable to Guangdong province (including Shenzhen) and clarifies that domestic reinvestment made by foreign-invested enterprises will be exempted from registration. If the investee enterprise or the equity transferor is an enterprise registered within pilot zone, the registration procedures for domestic reinvestment by foreign enterprises are no longer required. The Notice will be implemented from 4 December 2023.