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.
