A report in Xinhua over the weekend with announcements from China's foreign exchange regulator
- SAFE dismisses reports of tightened controls over FX sales
- Says no new restrictions have been adopted on currency exchange or cross-border payments
- All forex transactions are being conducted normally
SAFE, though, does say it wants banks to examine the authenticity of transactions more closely
- Ensure the compliance of transactions with current rules
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This is related to concerns over FX flows for ex outflow & yuan weakness
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SAFE is the State Administration of Foreign Exchange
