China’s SAFE: Will promote trade, capital inflows

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China’s State Administration of Foreign Exchange (SAFE) Director Pan Gongsheng said on Tuesday, “China will use exchange rate policy tools to promote foreign trade, expand foreign capital stock and to manage its FX reserve assets in 2023,” Yicai.com reports.

“SAFE is ready to support cross-border financial cooperation under trade agreements such as the CPTPP and Digital Economy Partnership Agreement.”

“China will develop foreign access to its bond market, further the use of panda bonds, and expand currency pools for multinational companies looking to invest in the domestic economy.”

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