Li Bin, deputy head and spokesperson for the State Administration of Foreign Exchange (SAFE), said at a Sept. 10 press briefing that China will raise capital-account openness while coordinating liberalization with RMB internationalization. SAFE plans to shift from channel-based to institutional opening, from transaction-level to entity-level convenience, and from FX-only controls to onshore-offshore currency coordination. For direct investment, SAFE will roll out new cross-border investment faci

Li Bin, deputy head and spokesperson for the State Administration of Foreign Exchange (SAFE), said at a Sept. 10 press briefing that China will raise capital-account openness while coordinating liberalization with RMB internationalization. SAFE plans to shift from channel-based to institutional opening, from transaction-level to entity-level convenience, and from FX-only controls to onshore-offshore currency coordination. For direct investment, SAFE will roll out new cross-border investment facilitation measures responsive to corporate demand. In cross-border financing, SAFE will continue to expand facilitation for technology firms’ offshore financing and broaden the pilot for green foreign-debt FX facilitation. On cross-border securities, SAFE will push to align market-opening rules with international norms, consolidate opening channels, harmonize institutions and rules, and deepen two-way opening of China’s financial markets.