During recent years with China's rapid integration into the global world economy, there  have been dramatic increases in cross-border foreign exchange receipts and payments, causing great changes in the contents, methods, and forms of foreign exchange administration. In response to these changes, the SAFE has taken steps to adjust some of the laws and regulations on foreign exchange administration in compliance with the relevant requirements for law-based administration. Since 2009, constant efforts have been made to put in order the existing laws and regulations on foreign exchange administration.  It has been announced that 250 standard documents have been annulled or declared invalid in four batches, among which some were substituted by new laws and regulations, some had exceeded the trial period of implementation, and some were annulled because the objects of administration no longer exist. The putting in order has led to a sharply decreased number of laws and regulations on foreign exchange administration, which will increase the transparency of framework for laws and regulations and facilitate the comprehension of banks, enterprises, and individuals about the laws and regulations on foreign exchange administration, thus better catering to the needs of economic development.
After the putting in order, the SAFE will take measures to further deepen the reform, promote the facilitation of trade and investment, increase the transparency of policies, and improve foreign exchange administration on QFII and QDII. Furthermore, the SAFE will make efforts to promote the development of the domestic capital market, further broaden the channels for external investment, improve the status of the balance of payments, and promote an equilibrium in the balance of payments.