A CBBC Outbound Seminar focusing on best practice and case studies under the current capital control policy was successfully held in Shanghai on 26th July. Over 70 delegates from leading local Chinese investors attended the seminar. Speakers from Grandall Law Firm and Bank of Shanghai shared the solutions through real life case studies.
The seminar was hosted by Weifeng Ma, Director of China Outbound at CBBC. He also introduced CBBC’s China Outbound Programme and the 5th China Outbound Conference which will take place in Shenzhen on 29th and 30th of November this year.
CBBC’s new East China Director, Yang Tingting introduced CBBC’s membership services and encouraged delegates to get more involved in CBBC’s work, particularly in East China.
In this interactive seminar, Yu Chengzhi, Partner of Grandall Law Firm introduced the latest capital control policy and its effect on Chinese outbound investment. She then talked about the procedures and documents needed for getting approval for capital to be transmitted overseas. Through the cases that she was involved in, Ms Yu stressed the importance of communicating with the authorities throughout the process of cross border transactions. It is also important to have a plan B and be prepared to face the questions from the sell side about the financing.
Mr Yang Chen, Assistant General Manager of Overseas Business Department of Bank of Shanghai introduced his bank’s offering in cross boarder financing solutions. As a leading local commercial bank in Shanghai, the Bank of Shanghai has helped many clients in cross border transactions through its innovative products.
During the question and answer session, Ms Yu and Mr Yang answered some specific questions raised by attendees. The seminar covered current topics and offered some very practical guides on dealing with cross border transaction. The China Outbound Series will be run in Beijing, Wuhan, Shenzhen and Chengdu later this year.