国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

Economy

Markets

Industries

Insights

Reports

Events

China eases rules on forex advances

(Xinhua)
Updated: 2008-12-24 13:19

Exporters will be able to increase their advances on foreign-currency payments to 25 percent from the current 10 percent, the China Securities Journal reported on Wednesday.

Related readings:  Forex reserves drop for first time since 2003  Decrease in China's forex reserves good - expert  China to continue efforts on regional forex reserve pooling scheme  China's forex reserves exceed $1.9 trillion

The decision came in a circular issued by the State Administration of Foreign Exchange (SAFE) on Tuesday night.

Importers' quota for deferred foreign-currency payments also rose to 25 percent from 10 percent.

Analysts said the move would help small and medium-sized enterprises raise funds and improve their cash flow.

A banker who asked to remain unidentified told Xinhua the financial crisis has caused difficulties for many enterprises and this move would give them more operating capital.

The State Council, or China's cabinet, urged a higher quota of foreign exchange advances to support trade during a standing committee conference on Dec 3.

SAFE official Cai Qiusheng was quoted by Tuesday's Shanghai Securities News as saying that foreign exchange reserves were below their peak at $1.9 trillion as of the end of September.

According to the paper, enterprises that have good credit and haven't violated any foreign-exchange regulations can qualify for the new limits.

To prevent "hot money" inflows through trade, SAFE, the Ministry of Commerce and the General Administration of Customs issued a joint circular on July 14 to step up supervision of cross-border capital flows.

The foreign exchange agency told administrative departments at all levels to step up inspection to prevent large-scale cash outflows.