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China Daily | Updated: 2016-01-29 07:55
Govts & policies
Forex controls imposed on import payments
The country has stepped up efforts to prevent companies from dumping yuan by restricting the time frame for foreign-exchange purchases to pay for imports. Companies can only buy overseas currencies a maximum five days before they make actual payments for goods, having previously been free to make their own decisions on timing, according to people familiar with the matter who cited the State Administration of Foreign Exchange's instructions to lenders in some regions.
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