The State Administration of Foreign Exchange (SAFE), China's regulator tasked with monitoring foreign exchange (FX) flows, has long held a tight control on currency conversion. It has slowly relaxed its grip in recent years, however, releasing a series of liberalizing measures as a means of facilitating cross-border investments and financing.
SAFE reforms FX regime for capital accounts
SAFE's latest rule on capital account transactions has allowed for smoother FX conversion and enhanced flexibility in currency risk and cash management by domestic and foreign enterprises
By
Katherine Jo
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