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