State Administration of Foreign Exchange
From MarketsWiki
| This page is not complete! |
| Do you have knowledge to contribute on this or other subjects?
Help the wiki grow -- add what you know. |
| State Administration of Foreign Exchange | |
| Founded | 1979 |
|---|---|
| Headquarters | Beijing |
| Key People | HU Xiaolian, Administrator |
| Products | foreign exchange reserves management |
| Web site | http://www.safe.gov.cn/model_safe_en/index.jsp?id=6 |
The State Administration of Foreign Exchange (SAFE) is a deputy-ministerial level national bureau directly under the State Council and manages China's foreign exchange reserves. The SAFE was formed in 1979, and it is headquartered in Beijing.
Contents |
History
| This page needs a sponsor. |
| Put your logo here! |
| Email us for information on how to support MarketsWiki. |
Products and Services
- Designing and implementing the balance of payments (BOP) statistical system in conformity with international standards, developing and enforcing the BOP statistical reporting system, and collecting relevant data to compile the BOP statement;
- Analyzing the BOP and foreign exchange positions , providing policy proposals with aim to achieving an equilibrium BOP position, and conducting feasibility study on the convertibility of the renminbi under capital account;
- Drafting rules and regulations governing foreign exchange market activities , overseeing the market conduct and operations, and promoting the development of foreign exchange market;
- Analyzing and forecasting the foreign exchange supply/demand positions and providing the People's Bank of China (PBC) with propositions and references for the formulation of exchange-rate policy;
- Promulgating regulatory measures governing foreign exchange transactions under current account and supervising the transactions accordingly; monitoring and regulating the foreign exchange account operations both in China and abroad;
- Supervising and monitoring foreign exchange transactions under capital account, including inward and outward remittance and payments;
- Managing foreign-exchange reserves of the country in accordance with relevant rules and regulations;
- Drafting foreign exchange administration rules, examining the domestic entities' compliance with foreign exchange administration rules and regulations , and penalizing institutions engaging in illegal practices;
- Participating in relevant international financial activities;
- Performing other duties and responsibilities assigned by the State Council and the PBC.
Structure
The SAFE is headquartered in Beijing and has an extensive branch network, including 36 branches (Administrative Offices), 298 central sub-branches, and 508 sub-branches throughout the country.[1]
Key People
Deputy Governor of the People’s Bank of China (PBC) and Administrator of the State Administration of Foreign Exchange (SAFE) - HU Xiaolian[2]
Deputy Administrators of the State Administration of Foreign Exchange (SAFE)- LI Dongrong, WEI Benhua, DENG Xianhong, FANG Shangpu
References
- ↑ Branch Network of the SAFE. State Administration of Forgign Exchange. Retrieved on May 20, 2008.
- ↑ Management Team. State Administration of Forgign Exchange. Retrieved on May 20, 2008.
