Deep Dive Exchange Series: China's New Capital Controls -- Prognosis and Response

Clare Lu, partner and attorney from the Shanghai Qin Li Law Firm and member of the Deloitte Global Network, met with some 30 CFOs, corporate treasurers, and other senior-most C-suite executive members of The Conference Board China Center for a Deep Dive Exchange into the issue of China’s new capital controls from a regulation and administration perspective. Lu outlined a set of practical approaches and rules of thumb for navigating the murky FX environment now upon us, and the members discussed their own experience with capital control-related challenges. Discussion focused on two questions:

1. What business planning assumptions make sense regarding the capital control and remittance environment?

2. What practical measures can be taken to remedy FX-related problems and mitigate risks in the current environment?