State Administration of Foreign Exchange (SAFE)
| Administrator: | Hu Xiaolian |
| Deputy Directors: | Li Dongrong Deng Xianhong Fang Shangpu Wang Xiaoyi |
| Address: | 18 Fuchenglu, Beijing 100037 |
| Telephone: | 86-10-6840-2265 |
| Website: | www.safe.gov.cn |
| Departments: | General Office; Balance of Payments; Current Account Management; Capital Account Management; Supervision and Inspection; Reserve Management |
SAFE functions as a bureau with vice-ministerial rank under the People's Bank of China (PBOC). Prior to the 1998 government restructuring, SAFE operated as an independent organization--its folding into PBOC is part of a movement to strengthen PBOC as a central bank.
SAFE's main responsibility is to draft policies and regulations and to supervise and inspect foreign exchange transactions, including exercising control over international commercial borrowings, issuing foreign-currency bonds, and managing the overall foreign-debt exposure of Chinese entities. SAFE's work plan:
- Use of interest and exchange rate policy to adjust China's international balance of payments
- Build foreign exchange administration methods centering on financial institutions to facilitate enterprises and enhance efficiency
- Strengthen early warning functions in China's international payments regime and improve the economy's capacity to meet emergencies
- Clamp down on illegal acts related to foreign exchange
Return to PART VII: State Council Indirectly Administered Offices