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China to intensify crackdown on forex irregularities: regulator

Reuters

BEIJING (Reuters) - China will intensify efforts in 2017 to crack down on foreign exchange irregularities, such as underground banking, the foreign exchange regulator said on Friday.

It will also fend off cross-border capital flow risks, the State Administration of Foreign Exchange (SAFE) said in a notice on its website.

The targets were set during a national work meeting held by the SAFE in Beijing.

(Reporting by Yawen Chen and Kevin Yao; Editing by Robert Birsel)

 

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