Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

China forex regulator vows greater opening, eyes reform on private equity investment

Published 08/01/2020, 06:34 AM
Updated 08/01/2020, 06:40 AM
© Reuters.

© Reuters.

SHANGHAI (Reuters) - China will continue to expand financial market opening, including exploring reforms to the rules governing cross-border investment management involving private equity funds, the country's foreign exchange regulator said on Saturday.

The State Administration of Foreign Exchange (SAFE) said in a statement it would maintain a push to "steadily expand two-way opening and interconnectivity of financial markets," following a conference hosted by the regulator on Friday.

China has moved to relax restrictions on access to its financial markets in recent months amid rising tensions with the United States, including revising rules to scrap quotas under two major inbound investment schemes.

SAFE also pledged on Saturday to keep fighting foreign exchange risks, including those involving cross-border capital flows, and vowed zero tolerance on criminal exchange activities, including underground money changers and cross-border gambling.

The regulator said, without elaborating, that it would implement "various" foreign exchange facilitation measures, and that it would expand trade balance facilitation pilot programs, improve management of foreign exchange reserves and ensure the safety and liquidity of assets.

 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.