China cracks down on illegal FX trading

Market participants call for legal pathways to trade on monitored platforms

Shanghai trading - China - web - Getty.jpg
Crackdown: China’s FX regulator fines 17 banks and individuals for dodging currency controls

China’s foreign exchange regulator has fined 17 banks and individuals for dodging currency controls – its latest move to clamp down on illicit capital outflows and defend the yuan as the currency weakens amid escalating trade tensions.

Among the violators are branches of Industrial and Commercial Bank of China and Agricultural Bank of China, two of the nation’s five-biggest state-owned banks, as well as medium-sized commercial banks such as Bank of Nanjing and China Merchants Bank. They failed

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact customer services - www.fx-markets.com/static/contact-us, or view our subscription options here: https://subscriptions.fx-markets.com/subscribe

You are currently unable to copy this content. Please contact info@fx-markets.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to FX Markets? View our subscription options

Most read articles loading...

You need to sign in to use this feature. If you don’t have a FX Markets account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: