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China's SAFE To Promote Trade, Capital Inflows - Pan Gongsheng

CHINA PRESS

China will use exchange rate policy tools to promote foreign trade, expand foreign capital stock and to manage its FX reserve assets in 2023, according to Pan Gongsheng, director of the State Administration of Foreign Exchange (SAFE). Pan said SAFE is ready to support cross-border financial cooperation under trade agreements such as the CPTPP and Digital Economy Partnership Agreement. China will develop foreign access to its bond market, further the use of panda bonds, and expand currency pools for multinational companies looking to invest in the domestic economy. Pan's comments were reported by Yicai.com.

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

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