SAFE Holds Seminar on Foreign Exchange Administration Work for the Second Half of 2026

Published: August 22, 2026

Sources & Verification

Primary Source

State Administration of Foreign Exchange (SAFE) — Official document ↗

CPG Analysis

AI-assisted summary of the official source linked above, pending human review.

Verification

AI-assisted summary · generated Sep 8, 2026 · pending human review

This summary was generated by AI from the linked official source. It has not been reviewed line-by-line by a human editor.

Report an issue with this policy ↗

⚠ This is a policy signal, not a confirmed rule.

No immediate compliance change has been identified. Monitor for official implementation documents.

⚡ Impact at a Glance

Who is affected

Banking, cross-border trade and e-commerce, multinational corporate treasury, asset management, sci-tech enterprises, SMEs

Cities / Agencies

Nationwide, with regional priorities in Shanghai, pilot free trade zones, and Hainan Free Trade Port · State Administration of Foreign Exchange (SAFE)

What to do now

Monitor only — no action required

Source & verification

SAFE · AI-assisted summary · generated Sep 8, 2026 · pending human review

What to watch next

SAFE: current-account FX facilitation package; full rollout of high-level cross-border trade FX payment/receipt facilitation; cross-border investment/financing facilitation package; nationwide MNC cross-border fund pooling rules; domestic foreign-exchange loan regulations; revised Regulations on Foreign Exchange Administration. PBOC and other financial regulators: financial market connectivity expansion measures.

Executive Summary

The State Administration of Foreign Exchange (SAFE) held its semi-annual work seminar on August 1 to review foreign-exchange administration in H1 2026 and set priorities for H2 2026. SAFE reported a stable FX market with net capital inflows and outlined plans to accelerate trade and investment payment facilitation, roll out new cross-border financing rules for multinationals, and tighten enforcement against illegal FX activity. No concrete rules were issued in this meeting; the announcements signal specific regulatory documents and rollout deadlines to monitor in the coming months.

Key Points

At an Aug. 1 video seminar, SAFE reviewed H1 2026 work and arranged H2 2026 tasks, reporting that the RMB exchange rate moved in both directions while appreciating moderately and that cross-border funds maintained net inflows.

H1 2026 achievements include USD 5.3 billion in new QDII quotas, a corporate foreign-exchange hedging ratio of 35.3%, and foreign-exchange reserves above USD 3.3 trillion.

SAFE will issue a package of current-account measures to facilitate trade, fully roll out FX receipt/payment facilitation under the high-level opening-up of cross-border trade, and support cross-border e-commerce, trade in services, and intermediate goods trade.

On the capital account, SAFE will launch a package of cross-border investment and financing facilitation policies, roll out nationwide centralized cross-border fund operations for multinational corporations in RMB and foreign currencies, and issue new regulations on domestic foreign-exchange loans.

SAFE will push banks' FX operation reform nationwide with a unified RMB/foreign-currency approach, cut exchange-rate hedging costs for micro/small/medium enterprises, and support Shanghai's international financial center, FTZ upgrades, and Hainan Free Trade Port FX innovation.

SAFE will revise the Regulations on Foreign Exchange Administration, use AI and big data to strengthen FX market supervision, maintain pressure on illegal cross-border activities such as underground banking, and advance digital, secure, and smart FX administration.

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