China SAFE Pledges Forex Opening, Tightens Cross-Border Capital Oversight With AI
Updated
Updated · South China Morning Post · Aug 2
China SAFE Pledges Forex Opening, Tightens Cross-Border Capital Oversight With AI
3 articles · Updated · South China Morning Post · Aug 2
Summary
SAFE said it will steadily expand institutional opening in China’s foreign-exchange sector after a Saturday work meeting set priorities for the rest of the year.
The regulator paired that opening with tighter control, vowing to monitor cross-border capital flows more closely and crack down heavily on illegal cross-border financial activity using technologies including AI.
SAFE also said it will push trade-facilitation reforms and roll out measures to optimize current-account foreign-exchange management.
The agenda aligns with broader policy support from the PBOC, which will promote panda bonds and the offshore yuan market as China balances market access with financial-risk control.