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China to broaden foreign exchange openness
The Chinese National Foreign Exchange Administration has announced its plans to continue expanding the institutional openness of the foreign exchange sector during the second half of 2026. The measures include strengthening easing policies for foreign exchange receipt and payment transactions across borders, supporting the development of new forms of trade such as cross-border e-commerce, improving foreign exchange settlement for trade in services, and fostering the growth of intermediary goods trade. It also aims to broaden market connectivity, enhance the centralization of multinational corporate fund management in both domestic and foreign currencies, and introduce regulations governing foreign currency-denominated loans. This approach aims to stabilize the foreign exchange market, promote the development of international financial centers, improve the management of cross-border financial flows, and focus on financial stability and economic expectation control.
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