China will crack down on illegal activities to keep forex market stable: Regulator

[BEIJING] China will crack down on illegal activities to keep its foreign exchange markets stable, the country's forex regulator said on Thursday.

Xu Weigang, an official with the State Administration of Foreign Exchange (Safe), made the comments during a regular news conference on forex regulations and policies in Beijing.

Guo Song, another Safe official, said rapid rises in outbound investment have had an impact on cross-border capital flows, but the government will support "genuine" overseas mergers and acquisitions by Chinese firms.

REUTERS