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China To Further Open Up FX Sector - SAFE

CHINA PRESS

China will further reform and open up its foreign exchange sector, according to an article posted on the State Administration of Foreign Exchange (SAFE) social media account. Setting out its plans for 2023, SAFE said it would reform the FX sector to better serve the real economy, maintain stable operation of currency exchange, and would continue stabilising China's foreign exchange reserves. Support would be given to SME’s to optimise FX services and hedge risk, and make better use of cross-border financial service platforms. It was also noted that in 2022 the balance of payments and currency exchange markets had shown resilience and stability.

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

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