China State Council approves revision of forex management rules, insurance law
- China
- 08/05/2008
China’s State Council, or Cabinet, said it has approved a revised draft of foreign exchange management rules, making them more adaptable to changes in the international payments situation. The State Council said the draft addresses certain aspects of the supervision of capital inflows and outflows, the yuan exchange rate formation mechanism , and the system of managing financial institutions’ foreign exchange business.
