Free Trial

The State Administration of Foreign.....>

CHINA PRESS
CHINA PRESS: The State Administration of Foreign Exchange revealed on Friday
20cases of illegal foreign exchange transactions, with banks, companies and
individuals being punished, the Economic Information Daily, a newspaper under
the official Xinhua News Agency reported Monday. The newspaper said SAFE, for
the first time, made public details of the illegal foreign exchange activity of
non-bank financial institutions. The illegal cases include evasion of foreign
exchange rules - illegally transferring and selling foreign currencies and
foreign currency assets instead of selling to the government - and illegal
transferring QDII investment quotas by non-bank financial institutions, with the
fines totalling CNY59 million, the newspaper reported. (Economic Information
Daily)

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.