2019 Roadmap for China's Foreign Exchange Regulatory Reform

China's State Administration of Foreign Exchange (SAFE) achieved its 2018 target of keeping the foreign exchange market basically stable despite a changing international political and economic environment，volatile financial markets，and the downward pressure on domestic growth.

2019 is also a challenging year. Global economic growth is already slowing. There is a risk of an escalation of global trade friction as protectionism gains support. Policy uncertainty is also rising. All these factors plus volatile financial market in emerging economies will lead to a slowdown in global trade and investment. That in turn will affect the sustainability and inclusiveness of global economic developmen