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

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SHANGHAI (Reuters) – will continue to expand financial opening, including exploring reforms to the rules governing cross-border management involving private equity , 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 ,” following a conference hosted by the regulator on Friday.

China has moved to relax 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.

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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 balance facilitation pilot programs, improve management of foreign exchange and ensure the safety and liquidity of .

 

Source: Investing.com

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