The State Administration of Foreign Exchange updated and released on February 10, 2021 the Catalogue of Major Effective Regulations on Foreign Exchange Administration (as of December 31, 2020). The catalogue covers 189 regulations related to foreign exchange administration.
The catalogue classifies regulations into eight categories, including foreign exchange management under current account, RMB exchange rate and foreign exchange market, and foreign exchange technology management. New regulations added to the catalogue are mainly related to foreign exchange business under current account, external financial assets & liabilities and transaction data, international receipt & payment statistics, as well as information system code standard management.
On the same day the SAFE issued a separate circular to revoke and invalidate seven regulatory documents in relation to individual purchase of foreign currencies, foreign exchange verification on import & export business, and banks' trade financing business.