China's State Administration of Foreign Exchange will expedite the opening up of the country's foreign exchange market and boost cross-border investment in the second half of the year, according to a statement released Sunday following its work conference.
SAFE will also promote international e-commerce, foreign exchange settlement optimization for service trade, and enhanced intermediate goods trading, the administration said.
China will also centralize its operational policy for domestic and foreign currency cross-border funds for multinational companies, oversee the administration of foreign exchange loans, and expand connectivity among financial markets.