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A Popular Mode of Oversea Financing

19 July 2011 

Recently a mode of oversea financing "Nei Bao Wai Dai" becomes popular, which means the borrowing by an oversea company (mostly Chinese invested company) from oversea fund raising market as secured by a PRC domestic entity or bank. The mode of security may be guarantee, mortgage and/or pledge. Under PRC laws, such security provided by a domestic entity or bank in favor of a foreign lender shall be regarded as the external security subject to the external security registration with SAFE (Sate Administration of Foreign Exchange). In addition, the individual approval of SAFE is also required if the domestic security provider does not have the external security quota as granted by SAFE, or the amount secured exceeds its external security quota..


Any legal information contained in this newsletter is general in nature and laws and regulations are changing from time to time and compliance will always depend upon the particular circumstances. We have not attempted to give exhaustive descriptions of law or to give a legal opinion on specific legal issues. You should not rely on this newsletter as a legal advice for any particular purpose.



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