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The People’s Bank of China (PBOC) announced on 13 April 2006 in Notice [2006] No. 5, that it will ease China’s foreign exchange controls and restrictions on overseas investments with domestic capital. Under the new measures, companies and individuals will be permitted to make significant financial investments overseas, controls on converting the Yuan into foreign currency will be liberalized, and qualifying enterprises will be allowed to purchase fixed income assets abroad and foreign stock.
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