China to revise cross-border investment rules for local PE funds
by Bloomberg Aug 01, 2020
China plans to revamp cross-border investment rules for domestic private-equity funds this year, the foreign-exchange regulator said in a statement Saturday.
The State Administration of Foreign Exchange intends to expand pilot schemes to facilitate foreign-exchange settlements in several free trade zones, while preventing financial risks from cross-border capital flows, according to the statement.
The regulator said it aims to maintain forex reserves at above $3 trillion. China’s foreign-currency holdings climbed to $3.112 trillion in July from $3.102 trillion a month earlier. Authorities will crack down on illegal private banking and cross-border gambling to maintain market stability, according to the statement.
Bloomberg
© Bloomberg
The author’s opinion are not necessarily the opinions of the American Journal of Transportation (AJOT).
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