© Reuters. FILE PHOTO: Mark Mobius, government chairman at Templeton Rising Markets Group, speaks in the course of the SALT convention in Las Vegas, Nevada, U.S. Could 17, 2017. REUTERS/Richard Brian
BEIJING (Reuters) – China’s international alternate regulator mentioned on Monday that there isn’t any change in China’s coverage on cross-border remittance of funds, and it’ll proceed to advertise a high-level opening-up to the world.
The State Administration of Overseas Trade (SAFE) made the feedback in response to Reuters questions concerning billionaire investor Mark Mobius’ claims that he can not take his cash out of China as a result of its capital controls.
“Particular person remittance of funds is a financial institution’s fundamental course of and inside management necessities,” the regulator mentioned, including that it’s going to information and urge business banks to optimise cross-border monetary providers and enhance service ranges.
Mobius’ feedback had been circulated on Chinese language social media websites over the weekend.
Mobius led rising market funding at Franklin Templeton Investments for 3 a long time and is understood for his bullish view on China. Now, although, he mentioned, he “can be very, very cautious” investing within the nation.
