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6 months ago
China to intensify crackdown on forex irregularities - regulator
January 6, 2017 / 11:42 AM / 6 months ago

China to intensify crackdown on forex irregularities - regulator

1 Min Read

A 100 Yuan note is seen in this illustration picture in Beijing March 7, 2011.David Gray/File Photo

BEIJING (Reuters) - China will intensify efforts in 2017 to crack down on foreign exchange irregularities, such as underground banking, the foreign exchange regulator said on Friday.

It will also fend off cross-border capital flow risks, the State Administration of Foreign Exchange (SAFE) said in a notice on its website.

The targets were set during a national work meeting held by the SAFE in Beijing.

Reporting by Yawen Chen and Kevin Yao; Editing by Robert Birsel

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