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


This is related to concerns over FX flows for ex outflow & yuan weakness


SAFE is the State Administration of Foreign Exchange