China’s SAFE and PBoC increase crackdown on foreign FX brokers LeapRate

September 20, 2018 BY LeapRate Staff

China's SAFE and PBoC increase crackdown on foreign FX brokers

LeapRate Exclusive... The People's Bank of China, effectively China's central banking authority, has posted a notice on its website providing further warnings that it is planning to take measures to shut down what it terms illegal FX brokerage activity targeting China-based Retail FX traders. The notice, which also officially comes from the Ministry of Public Security…

February 27, 2017 BY Valentina Kirilova

China regulator SAFE to tighten foreign currency supervision

China's FX regulator just announced that it will strengthen supervision of the foreign exchange market in 2017, while improving policy transparency and promoting the further opening of financial markets, as reported by Reuters. Chinese authorities are working recently on supporting the weakening yuan currency, while trying to attract more foreign investment. Pan Gonsheng, head of the…

January 19, 2017 BY Valentina Kirilova

China SAFE December data: continued capital outflows as Yuan fell

China's foreign exchange regulator commented earlier today that the country's forex reserves were ample and it has plans to deal with cross-border capital flows, even as bank forex sales in December climbed to their highest in nearly a year. According to Reuters, State Administration of Foreign Exchange (SAFE) spokeswoman Wang Chunying's exact words were: In the future,…

January 11, 2017 BY Valentina Kirilova

Chinese banks forced to cover tracks of forex regulator

China's forex regulator is telling banks to keep its instructions about curbing capital outflows secret and to ensure that research analysts keep any negative views about the yuan's prospects to themselves, several bankers said, according to Reuters. Both demands are seen as an attempt by the authorities to prevent alarm that could trigger further declines…

December 14, 2016 BY Valentina Kirilova

China FX regulator and Ministry of Public Security to keep cracking down on underground banks

China's foreign exchange regulator shared it will continue a campaign to crack down on the operations of underground banks that help people move money offshore, as Beijing steps up efforts to curb capital outflows. Following a meeting with the Ministry of Public Security, the State Administration of Foreign Exchange (SAFE) commented it will continue working…

May 29, 2016 BY LeapRate Staff

China forex trading retreats 9% in April

Data from Chinese financial regulator State Administration of Foreign Exchange (SAFE) indicates that China's currency exchange market posted turnover of 9.79 trillion yuan (USD $1.5 trillion) in April 2016, down about 9% from 10.71 trillion (USD $1.6 trillion) yuan in March., as reported by Reuters. The amount breaks down between 1.66 trillion yuan in forex transactions between…

May 26, 2016 BY LeapRate Staff

China's SAFE again eases rules for retail foreign exchange transactions

Reuters is reporting that China's foreign exchange regulator SAFE has issued new rules simplifying procedures for individuals exchanging foreign currencies, but keeping net purchase quotas unchanged. In what Reuters is calling a minor reform, the State Administration of Foreign Exchange (SAFE) said that financial outlets designated by banks for such exchanges will no longer need…

May 26, 2016 BY LeapRate Staff

China's SAFE again eases rules for retail foreign exchange transactions

January 11, 2016 BY Mike Fox

China's Forex regulator says it will increase risk control measures

China’s Forex regulator said over the weekend that it will ramp up risk control efforts, push ahead with regulatory reforms and look to accelerate the development of the worlds second largest economy's Forex market further in 2016. Within the past year we have seen numerous global financial cities open up Renminbi hubs in preparation for…

September 03, 2015 BY Maria Nikolova

China tightens Forex trading rules in attempt to support the Yuan

The People's Bank of China will require reserves to be set aside for buying all currency derivatives from October, this making it more expensive to bet on depreciation of the Chinese currency.

Tag: SAFE