State Administration of Foreign Exchange

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State Administration of Foreign Exchange
Agency overview
JurisdictionPeople's Republic of China
Agency executive
Parent agencyPeople's Bank of China
State Administration of Foreign Exchange
Traditional Chinese國家外匯管理局
Simplified Chinese国家外汇管理局

The State Administration of Foreign Exchange of the People's Republic of China is agency that controls foreign exchange market activities, and manages Chinese foreign exchange reserves valued at $3.2 trillion. The current director is Yi Gang.[1]

Role[change | change source]

SAFE's was kept in secret from world and its actions were often anonymous. In last decade the agency became so big it it had to come out from hiding and open up for media. SAFE is making a lot of investing on forex and commodity market.[2] The head office is located in Bejing and it is closely connected to ruling party.[3]

References[change | change source]

  1. "State Administration of Foreign Exchange".
  3. Jamil Anderlini, China investment arm emerges from shadows, Financial Times, 5 January 2008