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Foreign Exchange in China

Event Details:

Speaker : Mr. Dicky To, Managing Director, RSM Nelson Wheeler Tax Advisory Ltd

Date : 9 February 2012 (Thursday)

Time : 7:00pm - 9:00pm (Registration starts at 6:30pm)

Venue : Auditorium, 1/F., Duke of Windsor Social Service Building, 15 Hennessy Road, Wanchai, Hong Kong

Language : Cantonese (no simultaneous translation)

CPD Credit : 2 hours

Fee : HK$100**

** Fees collected will be utilized to fund events and activities for development of the accounting profession.

About the seminar:

In theory, Renminbi (RMB) is freely convertible for transactions under current account items whilst exchange control is imposed on capital account items. In practice, the People’s Republic of China (PRC) Government authorities implement stringent control measures and/or documentation requirements even for current account transactions. A good understanding of how the PRC foreign exchange system works and how it interplays with the PRC tax system is crucial for devising an operational effective and tax efficient structure.

This seminar deals with the PRC foreign exchange system and how it works together with the PRC tax system as the government control measures, as well as the latest development about RMB internationalization and Hong Kong’s role as a RMB offshore trading centre.

1) Overview of the PRC Exchange Control System

- Current account items

- Capital account items


- Interrelations between exchange control and other government control

2) Latest Policy and Development Trend of Foreign Debt Registration in China

- Prevailing Foreign Debt registration requirements and recent changes

- Practical issues to consider

- Prevailing regulations on guarantee of foreign debt

- Prevailing regulations on PRC enterprises issuing foreign currency bonds

3) Latest Policy and Development Trend of RMB Offshore Trading Centre in Hong Kong

- PRC, Hong Kong and foreign enterprises issuing RMB denominated bonds in Hong Kong

- RMB denominated IPO in Hong Kong

- RMB trade settlement

- RMB fund raising in Hong Kong for investment in China


About the speaker:

Dicky is the Managing Director of RSM Nelson Wheeler Tax Advisory Ltd, specialized in structure, transaction and tax services for inbound and outboard investments to and from Hong Kong/China. Scope of services provided by Dicky covers foreign investment corporate formation in China (including Hong Kong and Macau), WTO/CEPA implications, corporate holding and operating structure advice, Hong Kong and PRC taxation system, PRC customs duty and import/export procedures, PRC foreign exchange regime, individual income tax planning, repatriation of earnings/funding from the PRC, etc.

Dicky is an active speaker on PRC tax and related areas with the Amercian Institute of Certified Public Accountants, Hong Kong Institute of Certified Public Accountants, ACCA Hong Kong, Hong Kong Baptist University, Shenzhen University, South China Technology University, etc. Dicky has also acted as an expert witness on Hong Kong/China cross border customs, taxation and foreign exchange issues on a Hong Kong High Court case.


1) Those interested are requested to register on-line by filling in the attached enrolment form. Acceptance will be on a first-come-first-served basis.

2) Successful enrolments will be confirmed by email. Unsuccessful applicants will be automatically placed on waiting list; they will be called up in the order of time of receipt of registration when vacancies arise.

3) Applicants may check their registration status using the same membership number of their professional affiliation when they register.


1) After receiving our Confirmation, you can either pay cash or cheque for admission at location.

2) If pay by cash, please present the Confirmation with your cash payment when you attend the seminar.

3) If pay by cheque, please make cheque payable to Accounting Development Foundation Limited. Write down your name and Enrolment ID number on the back of the cheque and submit it with the Confirmation when you attend the seminar.

Seat Accommodation:

Please note that seats accommodation for accepted participants will be reserved until 15 minutes after the seminar starts. Seats may not be available for participants who are late for over 15 minutes.

CPD Hours:

For those participants who have not attended the full session, the number of CPD hours will be discounted according to the actual time of attendance. Completed CPD hours will be granted to attendees who have attended the full session. For the exact recognition of the CPD hours, please check with the respective Institute or Association.

Bad Weather Arrangement:

The event may be cancelled / re-scheduled when typhoon no.8 or black rainstorm warning is hoisted. Please refer to our web site for the arrangement.


Accounting Resources Centre (ARC)

CPD Requirements: Our seminars can fulfil CPD requirements. As professional bodies would not formally endorse the seminars we provide, it does not mean that the events we organize do not meet the CPD purpose. Registrants should note that you are responsible for determining whether our seminars or any event satisfy your CPD requirements i.e. that the training you receive are of appropriate standard and relevance to your maintaining and enhancing the technical knowledge and professional expertise. If necessary, please check with your respective professional body before registering our seminars. ARC does not warrant that the attendance of our seminars or events would automatically be recognized by the respective professional bodies as fulfilling your CPD requirements.

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