China's FX regulator shackles big transactions
As government regulators try to stem capital outflows, big-ticket FX purchases and settlements under corporate capital account items face tougher scrutiny.
Corporate treasurers are weighing up the details of directives from China's State Administration of Foreign Exchange (Safe), after the foreign exchange market watchdog told banks on November 28 to deal "carefully" with requests for FX transactions under capital accounts from corporate clients.
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