China Plans to Scrap Exporters' Foreign Exchange Checks, Regulator Says

(Bloomberg) -- China will scrap the system of
checking exporters' foreign-exchange earnings because of its
economic development, the State Administration of Foreign
Exchange said on its Web site.

The currency regulator and Ministry of Commerce have decided
to do away with the policy ``and will no longer examine the
earnings,'' SAFE said today. It didn't elaborate on why the
decision was made.


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