In a chat, this weekend, with a friend who is in the higher rankings of the banking system here and he said that it is being muted around that foreigners who wish to live in China on what is at present a non working visa will have to show that they are financial able to maintain themselves here.
It was suggested that the main point of new regulation will be that foreigners will have to prove the assets they have that will enable them to stay in China without the need for carrying out illegal work.
This is going to be coupled with the requirement that all Chinese citizens who have assets outside of China will have to declare them.
This is said to be coming into force at the start of 2014. I will be going to renew my visa at the end of this months so I will, if i can, find anything else out about it.
I will also see if I can find out more about the new R and S visas that are required for long term visitors with family connections here.
In six months time I will have been here for 5 years and will have the residential qualifications to apply for permanent residents permit. I will check on what is required for that as well.
Willy
