China’s forex regulator pledges to open up market, tighten capital oversight

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China’s foreign exchange regulator has pledged to help further open up the forex market, while strengthening oversight of cross-border capital flows in the second half of the year.“[We will] steadily expand the institutional opening-up in the foreign exchange sector,” the State Administration of Foreign Exchange (SAFE) said in a statement on Sunday.The regulator, which had held a work meeting on Saturday to lay out key priorities for the rest of the year, also pledged to promote trade...