Forex regulator to free up cross-border capital flows

BEIJING: China’s foreign exchange (forex) regulator highlighted specific measures to further promote two-way opening-up of the financial market, mainly through steadily freeing up cross-border capital flows and improving the yuan exchange rate regime.

Based on a generally stable balance of payment in 2020, the State Administration of Foreign Exchange (SAFE) plans to expand the scale of the qualified domestic limited partner plan this year. The plan allows domestic investors to access more foreign assets.It will also continue to approve quotas of the qualified domestic institutional investor plan, another programme for outbound investment, according to Wang Chunying, deputy head and spokeswoman for SAFE.