China to support equity incentives for foreign workers

China will support equity incentives for foreign employees at listed companies to steadily increase the openness of the domestic capital market, according to an announcement released by the State Administration of Foreign Exchange on Tuesday.

After obtaining a business registration certificate for the participation of equity incentives in China, domestic listed companies and their foreign employees can directly handle relevant cross-border income and expenditure, capital transfer, and exchange business at banks in China with the certificate, said the announcement.

The funds needed for foreign employees of domestic listed companies to participate in equity incentives may come from their legitimate income in China or funds remitted from abroad, the announcement added.