Off the wire
• Philippine death toll from Melor rises to 42  • Turkey says to keep up military support for Iraq until Mosul is freed from IS  • Greek parliament calls for recognition of Palestinian state  • China, ROK hold successful first round of talks on maritime demarcation  • UAE police seizes Iranian ship loaded with drugs  • Senior leaders congratulate traditional Chinese medicine academy on 60th anniversary  • Chinese vice president meets Pakistani youth delegation  • Zimbabwean president slams banks for charging high rates  • China Headlines: China seeks to make cities better places to live in  • BMW to recall Mini Coopers in China  
You are here: 　 Home

China forex regulator reiterates opening up capital account

Xinhua, December 22, 2015 Adjust font size:

The State Administration of Foreign Exchange (SAFE) reaffirmed Tuesday that China will promote the convertibility of its currency on the capital account in an orderly manner.

Currently, the yuan's convertibility on the capital account is subject to strict government control to prevent capital outflow.

"SAFE will work to accelerate the development of China's foreign exchange market and allow market forces to play a decisive role," said a statement on its website.

The country will also establish a management system for cross-border capital flows to ward off systemic and regional risks in the financial system.

The statement was released after SAFE officials met to discuss detailed measures to implement policies set during the Central Economic Work Conference. Endi