BEIJING, Oct. 27 (Xinhua) -- China's foreign exchange (forex) regulator will roll out new policies aimed at promoting innovative growth in trade, said Zhu Hexin, deputy governor of the central bank and head of the State Administration of Foreign Exchange (SAFE), at the Annual Conference of Financial Street Forum 2025 on Monday.
SAFE will also introduce policies for a cash-pooling program that integrates domestic and foreign currency management for multinational enterprises, the management of funds among domestic companies listed abroad, and integrated forex management reforms and innovations in free trade zones, Zhu said.
China has been intensifying the deep reform and high-standard opening-up of its forex sector, promoting cross-border trade and the facilitation of investment and financing, advancing the development of the forex market, and creating favorable conditions for various entities to effectively allocate forex resources and manage exchange-rate risks, he noted.
In 2024, the turnover of China's forex market increased 37 percent compared to 2020, and its foreign-related balance of payments rose 64 percent, Zhu said.
In the first three quarters of this year, China's foreign-related balance of payments reached 11.6 trillion U.S. dollars, a record high for the period, he added.
The forex regulator will enhance supervision and risk-prevention capabilities, providing greater stability and certainty for the promotion of cooperation amid opening-up, and for strengthened economic and trade resilience, Zhu said.
