By Russell Brown
China's State Administration of Foreign Exchange has decided to popularize a nationwide online information system for direct investment foreign exchange business with effect from May 2008. The decision complies with the requirements of the State Council which wants to further transform government functions, establish a service-oriented government and promote e-government administration.
Their purpose is to develop direct investment within this new context and accelerate the reform of direct investment's foreign exchange administration. The perceived advantages of the System are to raise management efficiency; to improve service levels; to provide statistical, monitoring, analytical and pre-warning capabilities for direct investment; and to facilitate an increase in investment.
The system, an information carrier ...
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