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).
Similar Stories
Brian Oravec appointed as Chief Investment Officer, Asia Pacific at Realterm
View Article
CBP intercepts over $30 million in methamphetamine at the Pharr International Bridge
View Article
WTCA Forum 2024 in New York underscores importance of international collaboration
View ArticleACD celebrates 2024 Annual Meeting in La Quinta, California
Today, the Alliance for Chemical Distribution (ACD) welcomed 666 members and industry leaders for its highly anticipated 2024 Annual Meeting held in La Quinta, California.
View ArticleHoliday spending still on track for steady growth amid ‘mixed signals’ in recent jobs and GDP data
The National Retail Federation still expects steady sales growth for the winter holiday season despite contradictions in the latest economic indicators, NRF Chief Economist Jack Kleinhenz said today.
View ArticleTrump Presidency will reignite US-China trade war and threaten a spike in ocean container shipping markets / Xeneta
Donald Trump’s victory in the US Presidential Election is ‘a step in the wrong direction’ for international trade as importers fear another spike in ocean container shipping freight rates.
View ArticleGet the most up-to-date trending news!
SubscribeIndustry updates and weekly newsletter direct to your inbox!
Follow us on social media:
