To implement the requirements of the State Council on streamlining administration and delegating power to lower levels, combining regulation and deregulation, and optimizing services, as well as other reform measures, and further promote trading policy facilitation, the State Administration of Foreign Exchange (SAFE) has continued streamlining regulations, abolishing and nullifying more than 900 copies of documents on foreign exchange administration since 2009.  

The SAFE has recently released the Circular of the State Administration of Foreign Exchange on Announcing 6 Regulatory Documents on Foreign Exchange Administration Abolished and Nullified(Huifa No. 25 [2017]), to step up efforts to streamline regulations, announcing two regulatory documents on foreign exchange administration abolished and four invalid. The six regulatory documents involved individual foreign exchange-related business and the construction of the foreign exchange system. The contents abolished and made invalid were abolished in accordance with the requirements of the ongoing reform of "delegation, regulation and service" such as all-in-one certificates, or were substituted by new regulatory documents on relevant regulatory requirements, or were about temporary work that is not in line with current management practices. But none of them involved new policy adjustment.

Next the SAFE will continue to implement the requirements on the reform of "delegation, regulation and service", refine the regulatory system of foreign exchange, deepen the streamlining and integration of regulations, and enhance policy transparency, so as to better serve the development of the real economy.