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Perhaps you should ask TOR could you join the board .... with that great mind of yours ....also so simple in your opinion ... jasus where did all those II's go wrong in not coming up with those ideas......
If people really want to move money out of China they could stuff a rucksack with cash and drive a quadbike over a dirt trail out of the country. Alternatively they could buy a light aircraft and simply fly out of the country through mountain valleys. Another way to move money out is to buy Bitcoins as they a global currency without borders.
Let's just be honest - money is global. If someone really wants to move their money to another country then they stand a very good chance of doing so. Half the time it would not even be in the authorities own self-interest to prevent it. The other 48% of the time they would be successful in avoiding anyone who wanted to prevent it. Maybe 2% of the time it may get stopped. Hence if they are smart they would move their money in several batches so most of it will get to where they want it to go.
Bronx, you are right. Kommandor would have to turn around pretty quickly for it to be en route by Monday. It's just done a two-day round trip back to port and out to the middle of the North Sea again. Would seem strange if it's only going to spend less than two days there. Regardless, even without another sojourn in port it's 4-5 days from the Celtic Sea. Which means it needs to be underway by end of Monday or this week's RNS is already shown to be garbage. I notice another ship on the North Sea at the moment is the Norwegian-registered "BB Troll". That sounds more apt for a Providence job :-/
Its would seem to me that this is the reason for the delay..Who knows!
But if it is then 'the idiots' at Providence should have stated it in first delayed backstop press release!
If Kommander is not on it's way to Barryroe by Monday Providence will have lost all credibility.
(whatever little bit it has left)
https://www.export.gov/article?id=China-Foreign-Exchange-Controls
China - Foreign Exchange
Includes how foreign exchange is managed and implications for U.S. business.
Last Published: 7/30/2019
China maintains a "closed" capital account, meaning companies, banks, and individuals can't move money in or out of the country except in accordance with strict rules.
The People’s Bank of China (PBOC) and State Administration of Foreign Exchange (SAFE) regulate the flow of foreign exchange in and out of the country and set exchange rates through a "managed float" system. Companies must report any overseas payment with a payment term over 90 days from the date shown on the import declaration form to SAFE —no matter the amount—or they will not be allowed to arrange the overseas payment. The accumulated reported overpayment amount in one calendar year can’t exceed 10% of total importation amount of the last year.
When an enterprise enters into a contract that contains a clause for the pre-payment for purchases, the enterprise must register (with SAFE) within 15 working days after the contract is signed. The enterprise also must register the foreign exchange repayment within 15 days before the remittance. If the contract does not contain a pre-payment clause but a foreign exchange repayment is nevertheless required, the enterprise must register the contract and the foreign exchange prepayment within 15 working days before the remittance. As to the amount of the pre-payment, in principle, the enterprise pre-payment quota cannot exceed 10% of the total payment the enterprise has made for importation in the past 12 months. However, enterprises handling large, complete sets of equipment are exempt.
On December 30, 2016, China People’s Bank of China issued Measures for the Administration of Financial Institutions' Reporting of High-Value Transactions and Suspicious Transactions, with the goal of targeting money laundering, terrorism financing and fake outbound investment transactions. As a result of the law, banks and other financial institutions in China have to report all domestic and overseas cash transactions of more than 50,000 RMB (appro.. $7350), compared with 200,000 RMB (approx. $29,400) previously. Banks will also need to report any overseas transfers by individuals of $10,000 or more. In addition, all banks must report to central government on every single foreign exchange transaction of at least $5 million. SAFE will supervise and halt any on-going ODI projects in which Chinese investors still need to transfer more than $50 million out of the country. Only once they have vetted the authenticity and legality of the company's ODI plans will the green light be given.
Prepared by our U.S. Embassies abroad. With its network of 108 offices across the United States and in more than 75 countries, the U.S. Commercial Service of the U.S. Department of Commerce utilizes its global presence and international marketing expertise t