BEIJING - China's foreign exchange regulator said Monday that it had recently uncovered a number of illegal forex trade cases, and vowed to step up market regulation this year. In other cases, companies were found to be evading forex controls by using fake receipts or fabricating trade deals.

Top Ten Forex Brokers for Traders Residing in China

Many individuals were suspected of money laundering and transferring assets illegally, moving large amounts of money in small sums to avoid scrutiny, according to the SAFE. It pledged to get tough on illegal forex trade to maintain the balance of international payments, while promising to make policies more transparent and advance the opening up of financial market.

Weighed on by a weak Chinese yuan against the US dollar, regulators have moved to crack down on illegal cross-border capital flow in the past few months, while reiterating that normal business will not be affected and foreign investment is welcome.

HOME CHINA WORLD BUSINESS LIFESTYLE CULTURE TRAVEL WATCHTHIS SPORTS OPINION REGIONAL FORUM NEWSPAPER China Daily PDF China Daily E-paper MOBILE.

China orders banks to check for illegal activity in the Forex market

Business Macro Companies Industries Technology Motoring China Data Finance Top China cracks down on illegal forex trade Xinhua Updated: Villagers pick tea leaves in China's Hubei.

Mobile World Congress in Barcelona.

A model wants to thank Jack Ma. Victoria's Secret opens flagship store in Shanghai.

Visitors channel inner child at New York toy fair. Bike-sharing startup Ofo joins hands with veteran bike maker. Top 10 most valuable banking brands. SF Express set to complete listing in Shenzhen.

New wind power projects banned in six regions due to wastage. China's industrial and ICT sectors in UBS chief sees brighter prospects for Creating a household name on sweet note.

China cracks down on illegal forex trade - China - nocuwahojopyx.web.fc2.com

The content including but not limited to text, photo, multimedia information, etc published in this site belongs to China Daily Information Co CDIC. Without written authorization from CDIC, such content shall not be republished or used in any form.

License for publishing multimedia online Registration Number: