Since the beginning of 2014, the SAFE has further intensified efforts to sort out the laws and regulations, based on which the directory of major laws and regulations on foreign exchange administration currently in effect was updated. The updated Directory of Major Laws and Regulations on Foreign Exchange Administration Currently in Effect (as of July 31, 2014, hereinafter referred to as “Directory”) has been posted on the official Web site of the SAFE.

The Directory includes a total of 297 laws and regulations on foreign exchange administration.  Grouped into eight major items, including general foreign exchange administration, foreign exchange administration under the current account, foreign exchange administration under the capital account, regulation of the foreign exchange business of financial institutions, the RMB exchange rate and the foreign exchange market, balance-of-payments statistics, foreign exchange administration statistics, foreign exchange inspections and application of the laws and regulations, and the scientific administration of foreign exchange, the policies and regulations are further divided into some sub-items based on the their specific types of business in order to facilitate public inquiries.

The State Administration of Foreign Exchange will further establish and refine the long-term mechanism for sorting out the laws and regulations and will regularly update the Directory so as to increase knowledge and its use by banks, enterprises, and individuals in an effort to promote law-based foreign exchange administration.