China foreign exchange regulator vows higher opening, eyes reform on non-public fairness funding | Information

SHANGHAI (Reuters) – China will proceed to broaden monetary market opening, together with exploring reforms to the principles governing cross-border funding administration involving non-public fairness funds, the nation’s international trade regulator stated on Saturday.

The State Administration of International Change (SAFE) stated in a press release it might keep a push to “steadily broaden two-way opening and interconnectivity of economic markets,” following a convention hosted by the regulator on Friday.

China has moved to loosen up restrictions on entry to its monetary markets in current months amid rising tensions with the USA, together with revising guidelines to scrap quotas below two main inbound funding schemes.

SAFE additionally pledged on Saturday to maintain combating international trade dangers, together with these involving cross-border capital flows, and vowed zero tolerance on legal trade actions, together with underground cash changers and cross-border playing.

The regulator stated, with out elaborating, that it might implement “numerous” international trade facilitation measures, and that it might broaden commerce steadiness facilitation pilot applications, enhance administration of international trade reserves and make sure the security and liquidity of belongings.

(Reporting by Andrew Galbraith; Modifying by Helen Popper)