Li Dongrong

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  www.thestandard.com.hk/news_detail.asp?pp_cat=22&art_id - [Cached Version]
  Published on: 4/5/2007    Last Visited: 4/5/2007  

  "Work in 2007 must continue to focus around the aim toward more balanced international payments," Li Dongrong, deputy director of China's currency regulator, SAFE, said.

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  www.863171.net/info/showmanage.asp?id=115 - [Cached Version]
  Last Visited: 11/8/2008  

  Li Dongrong, SAFE's deputy chief said the move is aimed at making SAFE statistics more accurate and reliable for macroeconomic analysis and decision-making.
  
  SAFE is also trying to collect more data by conducting more surveys and exchanging data with other relevant departments, Li told a symposium held at Dalian, a coastal city in northeast China's Liaoning Province.
  
  He said SAFE continues to improve its method of compiling international payment statistics in order to make its figures more accurate and transparent.
  
  Since China's entry into the World Trade Organization, the flow of international capital had become more frequent and complicated, requiring greater accuracy and efficiency in reporting statistics.

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  www.ha-customs.com/english/information/information/2009 - [Cached Version]
  Published on: 3/24/2009    Last Visited: 7/29/2009  

  Several days ago, the State Administration of Foreign Exchange held a meeting in Chongqing to study and arrange the work to promote the ODI Module; Li Dongrong, deputy administrator of this administration, attended the meeting and delivered a mobilization speech.

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  Asia Times Online :: China News, China Business News,... - [Cached Version]
  Published on: 7/20/2005    Last Visited: 7/20/2005  

  The State Administration of Foreign Exchange (SAFE) will deepen reforms by improving its management and creating a more supportive foreign exchange framework, Li Dongrong, deputy chief of SAFE, was quoted as saying by Financial News."Advancing and deepening the management of foreign exchange and structural reform is required ... so that domestic companies can go overseas and take part in international process of competition," said Li.
  
  The reforms would grant domestic and multinationals in China greater strategic freedom by allowing them to buy more foreign currency as well as lend the money to overseas subsidiaries.Chinese banks would also be allowed to lend foreign currency to Chinese companies operating in foreign countries directly, Li said.
  
  SAFE would quickly revise foreign exchange rules for companies investing overseas as part of plans put forth late last year that outlined the benefits of looser capital controls for companies, the report said."[This revision] would be of benefit in reducing financial costs for multinational corporations, [and] it would ... improve the [effective] use of ... foreign funds," the report said.
  
  Previously, access to foreign funds was limited to companies based in 24 trial areas, including Shanghai, Beijing, Jiangsu and Zhejiang.Foreign exchange bureaus in the trial areas will have a US$5-billion quota in 2005, up from US$3.3 billion in 2004, to support local companies, Li said.He added that every local bureau was authorized to handle any deal valued below US$10 million, up from the previous US$3.3 million allowed in the trial zones.

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  Asia Times Online :: China News, China Business News,... - [Cached Version]
  Published on: 2/1/2005    Last Visited: 5/15/2006  

  On April 27, Li Dongrong, the deputy director of SAFE, revealed in Beijing that China was planning to lift restrictions on outbound capital investments by Chinese enterprises.
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  Li said the SAFE was considering a revision of the 2001 regulation governing outbound investment by Chinese enterprises to lift capital restrictions.

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  BRIEFING - ASIA BANKING - JULY 5, 2006 - [Cached Version]
  Published on: 7/5/2006    Last Visited: 7/18/2006  

  Li Dongrong, SAFE's deputy chief said the move is aimed at making SAFE statistics more accurate and reliable for macroeconomic analysis and decision-making.CHINA ISSUES NEW RULES FOR INSURANCE SOLD VIA BANKS

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  China to ease currency curbs to boost overseas... - [Cached Version]
  Published on: 7/18/2005    Last Visited: 7/18/2005  

  The State Administration of Foreign Exchange (SAFE) will deepen reforms by improving its management and creating a more supportive foreign exchange framework, Li Dongrong, deputy chief of SAFE, was quoted as saying by Financial News.
  
  "Advancing and deepening the management of foreign exchange and structural reform is required ... so that domestic companies can go overseas and take part in international process of competition," said Li.
  
  The reforms would grant domestic and multinationals in China greater strategic freedom by allowing them to buy more foreign currency as well as lend the money to overseas subsidiaries.
  
  Chinese banks would also be allowed to lend foreign currency to Chinese companies operating in foreign countries directly, Li said.
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  Foreign exchange bureaus in the trial areas will have a five billion dollar quota in 2005, up from 3.3 billion in 2004, to support local companies, Li said.
  
  He added that every local bureau was authorized to handle any deal valued below 10 million dollars, up from the previous 3.3 million dollars allowed in the trial zones.

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  China to gradually make capital account convertible:... - [Cached Version]
  Published on: 4/12/2006    Last Visited: 9/18/2006  

  Li Dongrong, deputy director of the SAFE made the remark here recently at a working conference held by SAFE on foreign exchange management.
  
  The rules for converting the RMB under capital accounts must be put forward step by step, Li said.

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  China to loosen forex restrictions - [Cached Version]
  Published on: 7/22/2005    Last Visited: 1/30/2007  

  Among other measures, the State Administration of Foreign Exchange (SAFE) is drafting a new forex regulation governing overseas investment by Chinese enterprises to give them greater flexibility in using forex funds, according to Li Dongrong, deputy administrator of SAFE.
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  "The old foreign exchange administration model was out of date," Li said."We are making preparations (for the promulgation of the new regulation), and hope to promulgate it as soon as possible."
  
  Forex authorities have already started to move in the direction of liberalization.
  
  Li also said SAFE has already significantly simplified forex source verification requirements, and has removed profit repatriation deposits, reducing firms' investment costs.
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  "For the time being, the quota is adequate, but the companies will probably move increasingly faster as they get familiar with overseas markets," Li said.
  
  The reform was spread to the entire country in May this year, and the total nationwide quota was raised to US$5 billion, which the official said was not only to meet the needs of Chinese companies going overseas, but a measure to selectively broaden the channels of capital outflow and promote capital account convertibility.
  
  Among other measures to further loosen restrictions, Li said his administration is considering broadening a reform from last year that allowed multinational companies to fund their own overseas subsidiaries by dropping a requirement that the companies must use their own forex funds.

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  China to upgrade international payments statistics... - [Cached Version]
  Published on: 7/5/2006    Last Visited: 11/9/2006  

  The move is aimed at making State Administration of Foreign Exchange (SAFE) statistics more accurate and reliable for macroeconomic analysis and decision-making, SAFE deputy chief Li Dongrong said.
  
  SAFE is also trying to collect more data by conducting surveys and exchanging data with other relevant departments, Xinhua news agency quoted him as saying.
  
  He said SAFE continues to improve its method of compiling international payment statistics in order to make its figures more accurate and transparent.
  
  Since China's entry into the World Trade Organisation in 2001, the flow of international capital had become more frequent and complicated, requiring greater accuracy and efficiency in reporting statistics.

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