International payment in and out of China

A Foreign Exchange Control Country

Event: International payment in and out of China (A Foreign Exchange Control Country)

Date: 27 October 2016 (Thursday)

Time: 5:30PM CNT | 9:30AM GMT

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What is the webinar?

Before the People’s Republic of China’s (“China”) economic reform and opening up to the world in 1978, the economy of China was controlled by the Chinese Government through internal policies and regulations.

Foreign exchange of inflow and outflow was restricted before the reform and was controlled by the China Government.  Through the formation of the State Administration of Foreign Exchange (”SAFE”) in 1978, China has gone through several major phases in foreign exchange policy changes.

From the revision for Administration Regulations of China on Foreign Exchange in 2008 to the “Announcement of SAFE [2016] No 16” on 9 June 2016, we have observed that China has impose less and less restrictions on international payments or transfers on current account and gradually simplify the procedure for some transactions (such as capital injection and foreign debt) on the capital account.

Who should attend this webinar?

  • CFOs
  • Finance Directors, Managers & Controllers
  • Head of Treasury, Treasurer
  • Tax Directors / executives
  • And other persons who are interested to know more about Foreign Exchange in China


Mr. Derek Ng - Head of TMF for North China based in the city of Beijing

Prior re-joining TMF Group in 2015, Derek was the Financial Controller for a Hong Kong listed company, where he played a key role in the company’s initial public offering. He has served as the Head of Finance, Administration and Human Resources in China for several companies listed on NASDAQ.

Starting his career with Ernst and Young Hong Kong auditing Chinese enterprises in 1990, Derek also served as a financial consultant for several wholly owned subsidiaries of foreign SMEs and an independent non-executive director of a H-share company listed on the Growth Enterprise Market of the Hong Kong Stock Exchange.

Derek graduated from the University of Massachusetts and has studied an EMBA program by the Peking University, China

Ms. Karen Xu - Manager of Accounting & Tax Services for TMF Beijing

Karen joined TMF in 2009 as an assistant manager. Karen has extensive knowledge and experience in investment, consulting companies and representative offices. Prior in joining TMF, Karen worked as an accountant in Australian CPA firms for about 5 years.

Karen graduated with master degree in University of Queensland Australia, majoring in professional accounting and is a qualified CPA (Australia), CIMA, and certified China statistics accountant. Karen was one of the top 3 in Taxation module of the CPA Australia Program.

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