Yi Gang Wenzhou individual foreign direct investment process has not finish

 Implementation is still not given the current state. foreign investment. According to the pilot program, investors can use their own foreign exchange funds, Renminbi to purchase foreign exchange and foreign exchange bureaus approved by the City and other sources of foreign exchange assets in overseas direct investment. Foreign direct investors can retain profits from investments abroad for its foreign re-investment.

limited investment, through new, mergers and acquisitions, equity participation, etc. set up an overseas non-financial enterprises and non-financial companies to obtain both the ownership, control, management and other rights and interests of the right, but the investment is not Allow the energy, minerals and so on. Meanwhile, individual investors, foreign investments shall not exceed the equivalent of $ 3,000,000; more investors to implement a foreign direct investment, total investment does not exceed the equivalent of $ 10,000,000; individual foreign direct investment, the annual total not more than 200 million U.S. dollars .

but an end, sources said, Wenzhou personal pilot has been suspended foreign direct investment. This is from Wenzhou allow individuals to become the first foreign direct investment in the city less than half months.

According to First Financial (microblogging) Daily News, Yi Gang, 13, did not give more specific reasons for suspension. But he also emphasized that as China's economic strength, the further development of export-oriented economy, financial laws, regulations, infrastructure, improve the conditions mature, capital account convertibility of the future will be steady progress.

while Yi Gang said the renminbi capital account convertibility, there is no official timetable.

addition to the current concern of foreign exchange reserves, he said, the end of 2010, the balance of foreign exchange reserves reached 2.85 trillion U.S. dollars. 2.85 trillion U.S. dollars of foreign exchange reserves, which means the central bank put about 20 trillion yuan. He believes that the formation of foreign exchange reserves is a reversible process, this reversible process, can cause the central bank eventually recovered the 20 trillion yuan.

(Financial Network)