Published on: 2026-08-02
Source: People’s Republic of China — Translation
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Beijing, August 2 /Xinhua/ — The State Administration of Foreign Exchange (SAFE) of China announced that it will continue to steadily expand the institutional openness of the country’s foreign exchange market in the second half of this year. This was stated in a statement released on Sunday following a working meeting of SAFE.
The agency will comprehensively implement a policy of simplifying foreign exchange operations to ensure a high level of external openness in cross-border trade, support the development of new forms of trade such as cross-border e-commerce, optimize foreign currency settlement procedures in trade of services, and promote the development of trade in intermediate goods.
GUWC intends to implement at the national level a policy of centralized management of cross-border capital of multinational corporations in national and foreign currencies, adopt regulations on the regulation of domestic currency loans, and also systematically and prudently expand the interconnectedness of financial markets.
The agency promised to support the development of the centrally administered city of Shanghai /East China/ as an international financial center, to improve currency regulation within the framework of the pilot free trade zones modernization strategy, and to provide support to the Hainan Free Trade Port /Hainan Province, South China/ and other regions in developing innovations in currency regulation.
The participants of the meeting pointed out the need to strengthen monitoring of cross-border capital flows, continuously improve macroprudential regulation and manage expectations, and take comprehensive measures to ensure the stability of the currency market.
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