Company: JXG
Filing Date: 2025-05-15
Form Type: 20-F
Source: 0001213900-25-043744
Chunk: 170

Company: JX Luxventure Group Inc.
Filing Date: 2025-05-15
Form: 20-F
Item: Item 10
Chunk 170
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 payment of interest
and dividends can be made without prior approval from SAFE by following the appropriate procedural requirements. By contrast, the conversion
of RMB into foreign currencies and remittance of the converted foreign currency outside the PRC for the purpose of capital account items,
such as direct equity investments, loans and repatriation of investment, requires prior approval from SAFE or its local office.

On February 13, 2015, SAFE promulgated the Circular
on Simplifying and Improving the Foreign Currency Management Policy on Direct Investment, effective from June 1, 2015, which cancels the
requirement for obtaining approvals of foreign exchange registration of foreign direct investment and overseas direct investment from
SAFE. The application for the registration of foreign exchange for the purpose of foreign direct investment and overseas direct investment
may be filed with qualified banks, which, under the supervision of SAFE, may review the application and process the registration.

The Circular of the SAFE on Reforming the Management
Approach regarding the Settlement of Foreign Capital of Foreign-invested Enterprise, or SAFE Circular 19, was promulgated on March 30,
2015 and became effective on June 1, 2015. According to SAFE Circular 19, a foreign-invested enterprise may, according to its actual business
needs, settle with a bank the portion of the foreign exchange capital in its capital account for which the relevant foreign exchange bureau
has confirmed monetary contribution rights and interests (or for which the bank has registered the account-crediting of monetary contribution).
For the time being, foreign-invested enterprises are allowed to settle 100% of their foreign exchange capitals on a discretionary basis;
a foreign-invested enterprise shall truthfully use its capital for its own operational purposes within the scope of business; where an
ordinary foreign-invested enterprise makes domestic equity investment with the amount of foreign exchanges settled, the invested enterprise
shall first go through domestic re-investment registration and open a corresponding Account for Foreign Exchange Settlement Pending Payment
with the foreign exchange bureau (bank) at the place of registration. The Circular of the SAFE on Reforming and Regulating Policies on
the Control over Foreign Exchange Settlement of Capital Accounts, or SAFE Circular 16, was promulgated and became effective on June 9,
2016. According to SAFE Circular 16, enterprises registered in PRC may also convert their foreign debts from foreign currency into Renminbi
on self-discretionary basis. SAFE Circular 16 provides an integrated standard for conversion of