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Shanghai Facilitates Registration of Forex Receipts and Payments in Trade

The Shanghai Branch of the State Administration of Foreign Exchange (SAFE) and the Shanghai Municipal Commission of Commerce recently issued a joint Circular on Further Facilitating Enterprises in Going Through Formalities for Registering in the Directory of Enterprises with Foreign Exchange Receipts and Payments in Trade (Shang Hai Hui No. 5 [2020]). It states that online registration is now available for Shanghai enterprises. The main points of note in the Circular are as follows.

  • Target users are enterprises which have completed record-filing and registration as foreign trade operators.
  • It covers new registrations, changes to existing registrations and cancellation of directory registration for enterprises with foreign exchange receipts and payments relating to import and export trade.
  • After completing record-filing and registration as a foreign trade operator at the Shanghai Municipal Commission of Commerce, an enterprise may directly log on to the “Application Service Platform” (ASOne) of SAFE to apply for directory registration online. There is no need to go to the Shanghai Branch of SAFE to have documents verified.

Source: Shanghai Municipal Commission of Commerce

Content provided by Picture: HKTDC Research
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