China Forex Regulator to Enhance Opening Up of Market, Tighten Supervision
MT Newswires Live
Aug 03
China's State Administration of Foreign Exchange will expedite the opening up of the country's foreign exchange market and boost cross-border investment in the second half of the year, according to a statement released Sunday following its work conference.
SAFE will also promote international e-commerce, foreign exchange settlement optimization for service trade, and enhanced intermediate goods trading, the administration said.
China will also centralize its operational policy for domestic and foreign currency cross-border funds for multinational companies, oversee the administration of foreign exchange loans, and expand connectivity among financial markets.
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