CHINA TOPIX

03/28/2024 05:00:42 am

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These regulations are primarily concerned with curbing the flow of capital outside the country.

China Pushes to Keep Foreign Exchange Regulations a Secret: Reuters

In an exclusive report, Reuters claimed that Chinese banking regulators are pushing financial institutions to keep foreign currency regulations a secret. These regulations are primarily concerned with curbing the flow of capital outside the country.

The country is also expected to further strengthen the punitive measures on illegal currency outflows.

China to Clamp Down on Individual Foreign Currency Transactions

China is looking to enhance the surveillance on foreign currency purchases made by individuals. The country is also expected to further strengthen the punitive measures on illegal currency outflows. However, it is likely to keep the current $50,000 annual individual quota intact.

China Southern Airline

China Southern Airlines Posts 10.4% Profit Decline on Forex Losses

In the first six months of this year, China Southern Airline's sales dropped by a significant 10.4 percent from 3.48 billion yuan ($520.9 million) a year earlier to 3.11 billion yuan ($467 million) as China suffers from foreign exchange losses.

China Forex Market

China Allows More Foreign Institutions on Forex Market

In a bid to promote China's inter-bank foreign exchange (forex) market, the People's Bank of China (PBOC), the country's central bank, has allowed the entry of seven more foreign institutions into the market.

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