BEIJING: China has introduced fresh measures aimed at enhancing foreign exchange operations to better streamline cross-border trade. The new measures will take effect on 1st June.

According to China Central Television, the State Administration of Foreign Exchange (SAFE) has announced six new measures across three areas. These include enhancing the registration management for foreign trade enterprises, simplifying the process for settling foreign exchange transactions related to cross-border trade, and consolidating regulations concerning foreign exchange in goods trading.

The foreign exchange regulator said more steps will be taken to improve the quality and effectiveness of foreign exchange services to better support the real economy, further improve the business environment, and help ensure the stability and quality of foreign trade.

China’s foreign exchange reserves reached US$3.2457 trillion in March, up US$19.8 billion or 0.62 percent from February, SAFE data showed on Sunday.

Source:Emirates News A
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