Excellent subject, or noting big.. I would have completely missed that subject had you not brought it up in the conference call. I've looked around on the net for this and come up empty handed. If anybody could find this current ruling by the PRC, maybe we could pick it apart and discover the solution.. "In the near future" is vague and it would benefit us to know what they know.
It makes Little sense that the PRC would block entities from conducting regular business. I can understand the countrys desire to protect themselves from unscrupulous money movers depleting their economy but a total block is irrational. I found some subjects regarding Singapore and China monetary relations. I'd guess that the typical entity is conducted through Singapore, but not it's clear. Moreover, Singapore information leads to taxing, personal and business taxing of some type. Regardless, this is dated and not the issue..
The issue, I guess would be, moving money to the Cayman islands and forwarding it to the CFO.. There must be some monies moving with 100's, at least, of entities like this. We are not simply talking about funds for regular business transactions, but simple payroll too.. Crocker's take, The CFO's pay, Attorneys fees, Accounting Fees, etc. etc. etc, and in so many other entities payments and transactions of international commerce.
I continue to hear of Chinese stocks and major investing, continued rising prices, this would not be possible if The PRC has a total block on international money exchange, or exportation of. . moerover, the international community would have dumped Chinese entities and we would have heard of this in the news..
There's something to be learned of the PRC ruling, we will not understand until we have it to 'diagnose' ourselves.
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