
More recent developments

SAFE rolls out forex reforms to attract FDI
On Monday, the forex regulator (SAFE) released a package of reforms to liberalize cross-border investment and financing. The changes are designed to “help improve the environment for foreign investment in China” (Gov.cn). ICYDK: China’s foreign direct investment (FDI) saw a… Read More »

Beijing bans tech firms from buying made-for-China Nvidia chips
What happened: On September 17, the FT reported that China's cyberspace authority (CAC) has banned Chinese tech companies from purchasing Nvidia's RTX Pro 6000D chips. According to the FT's sources: "Several companies had indicated they would order tens of thousands… Read More »

PBoC relaxes cross-border interbank financing rules to promote offshore RMB liquidity
Policymakers are trying to increase offshore RMB liquidity. On Friday, the central bank (PBoC) issued a draft notice encouraging cross-border RMB interbank financing. "Cross-border interbank financing" refers to lending and borrowing between domestic and overseas financial institutions. The current system… Read More »