Last year, the value of cross-border e-commerce transactions jumped 50 per cent to 134.7 billion yuan. Photo: Kyodo

China closes online currency regulation loopholes to ease fears over foreign exchange transactions

  • New rules from the State Administration of Foreign Exchange require cross-border payment services to more closely monitor and report international transactions
  • China is increasingly sensitive to outflow pressure given it is expected to run a current account deficit this year
Topic |   China economy

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Last year, the value of cross-border e-commerce transactions jumped 50 per cent to 134.7 billion yuan. Photo: Kyodo
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