BUSINESS China's forex regulator ups support for epidemic control, real economy

BUSINESS

China's forex regulator ups support for epidemic control, real economy

Xinhua

16:54, February 25, 2020

A cashier counts cash at a bank in Nantong, Jiangsu province. (Photo: China Daily)

BEIJING - China's forex regulator pledged efforts to optimize foreign exchange management to support epidemic control and economic development.

Measures should be taken to make full use of the "green channel" built to facilitate foreign exchange flows related to the epidemic prevention and control, said the State Administration of Foreign Exchange.

Procedures will continue to be streamlined for importing medical and protective supplies, handling donation funds in foreign exchanges and carrying out cross-border financing.

The administration will also further facilitate cross-border trade and investment by increasing foreign exchange services through payment institutions, promoting the opening up of capital projects and assisting the interconnection of financial markets.

Supervision of the forex market should be tightened, said the authority, adding that illegal behaviors will be strictly punished.

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