State Administration of Foreign Exchange | South China Morning Post
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  • Jan 26, 2015
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State Administration of Foreign Exchange

China mulls 'Tobin tax' to deter speculative capital inflows

A firmer yuan and higher interest rates could attract foreign money to China, a SAFE official says. Photo: Reuters

China's firmer yuan and higher interest rates could attract more money inflows this year, despite the possible impact of the US Federal Reserve's tapering of its easy money policy, the foreign exchange regulator said.

Saturday, 25 January, 2014, 3:45am

Well-trained managers the SAFE way to manage assets

London Business School

The manager of the world's largest foreign exchange reserves appears to have finally come to a valuable conclusion - if you want to manage your assets well, you must first know how to manage your people.

21 Oct 2013 - 8:19am

Attempts to diversify China's reserves have been a disaster

Attempts to diversify China's reserves have been a disaster

American asset prices have been enjoying a ripsnorting rally lately. Over the last six months the S&P500 stock index has climbed 20 per cent. Alternative assets like hedge funds are generating decent returns. Even house prices are up.

22 May 2013 - 4:45am

Beijing cracks down on hot money inflows for bets on yuan appreciation

Firms took loans in US dollars and converted them to yuan.

In a circular to commercial banks the State Administration of Foreign Exchange (SAFE) introduced for the first time a minimum net open position in US dollars, restricting banks' capacity to lend in the greenback.

7 May 2013 - 4:17am

No firm outlook for Safe forex funding scheme

Some mainland banks have earned intermediary fees for managing loan risks for Safe in relation to overseas acquisitions. Photo: AFP

With no details to go on, economists say it's tough to predict the impact of a special office set up by the country's foreign exchange regulator to help fund overseas expansion of Chinese firms.

16 Jan 2013 - 3:41am

Beijing to use forex reserves to finance overseas investment deals

Beijing to use forex reserves to finance overseas investment deals

The mainland's regulator of foreign exchange said a new unit would use some of the country's US$3.3 trillion in reserves to support firms expanding abroad.

15 Jan 2013 - 4:15am

Regulator relaxes rules for foreign investment firms

Foreign institutional investors on the mainland can only invest in stocks and bonds under the QFII scheme, which may soon be expanded. Photo: AP

Who is eligible to be a QFII ?

Under PRC law, a foreign investor must obtain a special licence to become a qualified foreign institutional investor (QFII) to invest in China's securities market.

Only certain types of institutions are eligible to apply for QFII qualification with the China Securities Regulatory Commission (CSRC).

28 Nov 2012 - 2:34am

New big spender in UK property market: Chinese sovereignty funds

Banks and offices are seen in the Canary Wharf financial district in East London, September 22, 2011. Photo: Reuters

Britain's property market is bracing itself for more investment by Chinese sovereign wealth funds following two big deals initiated earlier this autumn. China Investment Corporation (CIC) is in talks to buy Deutsche Bank's headquarters in the City of London for £250 million from a German investment fund.

6 Nov 2012 - 6:34pm

Hot money's growing underground flow

Along a narrow lane in Hong Kong's Western district sits a clutch of money changers doing more than swapping banknotes for tourists. They are quiet channels of illicit 'hot money' that flows between the mainland and Hong Kong.

14 Mar 2012 - 12:00am

Blood money

When the world financial crisis broke in 2008, I wrote several columns for the official mainland paper The Global Times, politely criticising China's central bank for its ignorance of international politics and its mistake in accumulating excessive amounts of US debt, and wondering whether, as I put it, 'the Chinese people's sweat and blood money' could be wasted.

31 Oct 2011 - 12:00am

The milk of innovation keeps flow of hot money alive

When it comes to innovation and creativity, it is hard to match our neighbours on the mainland. Just imagine making baby milk from an old leather sofa!

The price of milk on the mainland is determined by its protein content. The higher the protein content, the higher the price.

19 Feb 2011 - 12:00am

Wenzhou eases forex rules on overseas buys

Residents of Wenzhou will be allowed to make direct investments abroad as the central government relaxes controls on foreign exchange under the capital account.

11 Jan 2011 - 12:00am

Current account surplus declines 32pc to US$130b amid downturn

The mainland's current account surplus dropped in the first half of this year, the first time in six years as the global downturn affected the nation's exports.

21 Aug 2009 - 12:00am

SAFE in danger of foreign backlash

Beijing has been covertly using its foreign exchange reserves for political ends. The policy is likely to backfire spectacularly.

15 Sep 2008 - 12:00am

SAFE to give CIC a run for its money

Beijing seen hoping to lift investment returns

Foreign critics of Beijing's state investments beware: the mainland now has two sovereign wealth funds on the hunt for global assets.

17 Apr 2008 - 12:00am