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SAFE says to further push forward creating credit system in forex market

BEIJING
2015-06-10 11:19

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The State Administration of Foreign Exchange (SAFE), China's top foreign-exchange regulator, said Tuesday that it would further push forward constructing a credit system in the country's foreign exchange market. According to a statement published on SAFE's website, the regulator planned to develop its own database of corporate credit information mainly related to foreign-exchange transactions. The statement also said that since June 2014, the SAFE had stepped up disclosures of information concerning violation of rules. In 2014, there were a total of 1,903 cases of illegal foreign-exchange transactions uncovered by the SAFE.

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