World Economy

China to Clamp Down on Dodgy Forex

China to Clamp Down on Dodgy ForexChina to Clamp Down on Dodgy Forex

China will intensify efforts in 2017 to crack down on foreign exchange irregularities, such as underground banking, the foreign exchange regulator said on Friday. It will also fend off cross-border capital flow risks, the State Administration of Foreign Exchange (SAFE) said in a notice on its website, state media reported on January 6, Reuters reports. The targets were set during a national work meeting held by the SAFE in Beijing. In recent months, several Chinese organizations have stepped up efforts to clamp down on dubious trading practices.


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