【Financial Str. Release】China to facilitate more int'l capital to invest, start biz in domestic market

Workers perform quality check on an excavator production line at the Volvo Construction Equipment (China) Co., Ltd. in east China's Shanghai, Dec. 17, 2020. (Xinhua/Fang Zhe)

China's foreign exchange (forex) regulator said in a recent meeting to facilitate more international capital to invest and start businesses in the country, reported Xinhua Finance on Thursday.

The State Administration of Foreign Exchange (SAFE) stressed these in the meeting convened to coordinate development and safety, enhance confidence and actively cope with the challenges to better implement the epidemic prevention and control and economic growth stabilizing-related financial service policies.

SAFE highlighted the importance of boosting healthy and common development of all types of capital, saying to deepen cross-border investment and financing facilitation reform and support and encourage more capital and enterprises in China to go global. It will also work on promoting regular financial regulation and supervision over the financial activities of platform enterprises to bolster sound development of platform economy.

The Chinese forex regulator vowed to further deepen forex sector reform and opening up, foster cross-border trade and investment facilitation, and focus on small- and medium-sized enterprises to optimize forex services, in a bid to precisely implement the existing supportive policies in forex sector.

By adhering to the bottom line thinking, SAFE emphasized strengthening study, judgement and expectation guidance over the economic and financial situation and reinforcing the supervision framework of "macro-prudence and micro-supervision" to effectively fend off and eliminate external shocks and risks and maintain the stable operation of forex market and economic and financial safety in China.