China's Forex Rules Begin to Loosen Capital Controls

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The impact of membership in the World Trade Organization is already being seen in legislative changes in China. The People's Bank of China (PBOC) and the…

The impact of membership in the World Trade Organization is already being seen in legislative changes in China. The People's Bank of China (PBOC) and the State Administration of Foreign Exchange (SAFE) have issued several notices recently easing stringent foreign exchange (forex) controls in some areas. Although the changes are largely symbolic at this stage, they point the way forward in this crucial area impacting business and foreign investment.

PBOC and SAFE Take a First Step in Relaxing Forex Controls

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