SHANGHAI (Reuters) – China’s foreign exchange regulator said on Tuesday it will relax cross-border trade and investment rules in several domestic pilot zones, while stepping up risk control over capital flows.
Companies in the pilot zones – in Shanghai, Guangdong, Hainan and Zhejiang – will get more freedom to borrow money from overseas, and to experiment with cross-border asset transfer businesses, the State Administration of Foreign Exchange (SAFE) said on its website.
(Reporting by Shanghai Newsroom; Editing by Andrew Heavens)
