Brocker.Org: China’s SAFE: Yuan flexibility will increase in 2017

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Headlines crossed the wires from China’s fx regulator, State Administration of Foreign Exchange (SAFE), last minutes, noting the following:

Expects current account surplus, capital and financial account deficit in 2017

Will push forward market-based Yuan exchange rate reform

Growth in services trade deficit will gradually stabilize

Overseas investment yields likely to increase in 2017

Will step up checks on authenticity and compliance on trade and investment

Will step checks and punishment on illegal fx activities

Yuan flexibility will increase in 2017

Cross-border capital flows to become more balanced

Will optimize diversification of fx reserves to serve china’s strategic goals

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