https://www.scmp.com/rss/522316/feed The State Administration of Foreign Exchange (SAFE) is a prominent Beijing-based governmental body in China, operating as an administrative agency under the State Council and part of the People’s Bank of China. Its primary mission is to manage the nation’s vast foreign exchange reserves and regulate foreign exchange market activities. SAFE’s main areas of focus include drafting foreign exchange policies, supervising transactions, monitoring balance of payments, and promoting Renminbi... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Mia Nurmamat Mia Nurmamat China is charting a course for a major increase in domestic gold output over the next five years, while also advancing a new round of mineral-exploration breakthroughs, to bolster self-sufficiency amid a global shift away from the US dollar and heightened geopolitical tensions that underscore gold’s role as a financial haven. The proposal, outlined by the China Gold Association, aims to upgrade mining and smelting technologies during the country’s 15th five-year plan period (2026-2030) while... https://www.scmp.com/economy/china-economy/article/3342532/china-eyes-gold-production-surge-amid-de-dollarisation-drive-aiming-hedge-global-risks?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3342532/china-eyes-gold-production-surge-amid-de-dollarisation-drive-aiming-hedge-global-risks?utm_source=rss_feed Thu, 05 Feb 2026 13:00:10 +0000 Sylvia Ma,Kandy Wong Sylvia Ma,Kandy Wong Recent data on China’s external accounts presents a conundrum: while the country’s trade surplus has broken records, surpassing the US$1 trillion benchmark in the first 11 months of the year, growth in its official foreign exchange reserves has lagged. This seeming paradox prompts a question – where did the money go? Analysts said the gap reflects how much of the surplus has flowed back overseas through asset investment, largely made by private-sector players, leaving China’s external accounts... https://www.scmp.com/economy/china-economy/article/3338034/china-has-logged-us1-trillion-trade-surplus-where-all-money-going?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3338034/china-has-logged-us1-trillion-trade-surplus-where-all-money-going?utm_source=rss_feed Mon, 29 Dec 2025 13:00:10 +0000 Xinyi Wu Xinyi Wu China on Monday reaffirmed its hardline approach towards virtual currencies at home, warning of the risks of stablecoins, despite growing concerns that the United States might have consolidated its US dollar dominance through them. Instead, the world’s second largest economy vowed to broaden the use of its central bank digital currency known as e-CNY, according to Pan Gongsheng, governor of the People’s Bank of China. “[Stablecoins] are still in their early stages of development,” said Pan,... https://www.scmp.com/economy/global-economy/article/3330525/china-doubles-down-crypto-crackdown-central-bank-vows-expand-digital-yuan?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3330525/china-doubles-down-crypto-crackdown-central-bank-vows-expand-digital-yuan?utm_source=rss_feed Mon, 27 Oct 2025 15:36:10 +0000 Ji Siqi Ji Siqi China’s top financial officials said the country’s assets have become much more attractive to overseas capital in the past year at a high-profile press conference, adding Beijing would continue to prioritise domestic economic objectives even as interest rate cuts from the US Federal Reserve have created room for looser monetary policy. Adjustments to China’s monetary policy are “self-determined” and “data-based”, said Pan Gongsheng, governor of the People’s Bank of China, at the conference on... https://www.scmp.com/economy/policy/article/3326403/china-expands-circle-friends-overseas-investors-boost-domestic-assets?utm_source=rss_feed https://www.scmp.com/economy/policy/article/3326403/china-expands-circle-friends-overseas-investors-boost-domestic-assets?utm_source=rss_feed Mon, 22 Sep 2025 11:00:13 +0000 Sylvia Ma Sylvia Ma In the decade since China shocked the world with a surprise devaluation of the yuan, the nation’s exchange-rate regime has steadily shifted towards market-based – yet still managed – pricing, and analysts say the era of burning through massive reserves to defend the currency is firmly in the rear-view mirror. Armed with lessons from the past, Beijing now employs a wider arsenal of tools to manage volatility, they added, with the key challenge for the coming decade being whether the yuan can open... https://www.scmp.com/economy/china-economy/article/3321464/10-years-day-chinas-big-yuan-devaluation-set-shock-waves-what-has-changed?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3321464/10-years-day-chinas-big-yuan-devaluation-set-shock-waves-what-has-changed?utm_source=rss_feed Mon, 11 Aug 2025 13:00:08 +0000 Nicholas Spiro Nicholas Spiro Since US President Donald Trump launched his assault on the global trading system in early April, one theme has dominated the financial market landscape. Contrary to the expectations of many investors, shifts in capital flows emerged as a more important determinant of sentiment than the economic impact of higher tariffs. Nowhere is this more apparent than in Asia, the region most at risk from the onslaught of protectionism because of its greater dependence on trade. The unexpected surge in Asian... https://www.scmp.com/opinion/hong-kong-opinion/article/3319374/how-mainland-capital-flight-reviving-hong-kong-markets-mojo?utm_source=rss_feed https://www.scmp.com/opinion/hong-kong-opinion/article/3319374/how-mainland-capital-flight-reviving-hong-kong-markets-mojo?utm_source=rss_feed Thu, 24 Jul 2025 08:30:09 +0000 Carol Yang Carol Yang China has stepped up efforts to attract foreign investors, as policymakers look to bolster the domestic economy and safeguard its position in global supply chains amid negotiations with major trade partners. New tax breaks unveiled this week aim to encourage foreign firms to reinvest profits locally – part of a broader effort to restore confidence and signal openness as challenging trade talks continue with the European Union and United States. The Ministry of Commerce, the Ministry of Finance... https://www.scmp.com/economy/china-economy/article/3316512/china-rolls-out-tax-incentives-win-back-foreign-investors-amid-eu-us-trade-tensions?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3316512/china-rolls-out-tax-incentives-win-back-foreign-investors-amid-eu-us-trade-tensions?utm_source=rss_feed Tue, 01 Jul 2025 10:00:32 +0000