On December 20, 2016, Pan Gongsheng, Administrator of the State Administration of Foreign Exchange (SAFE), met with a delegation from the Hong Kong Association of Banks (HKAB) headed by Mr. Norman Chan, Chief Executive of the Hong Kong Monetary Authority (HKMA) and Ms. Chen Xiumei, Chairperson of the HKAB. The two sides exchanged ideas on issues of both concern such as foreign exchange situation, and foreign exchange administration policies.

According to Administrator Pan Gongsheng, the cross-border capital flow risk is within control at the moment, and there are long-term fundamental factors that support the equilibrium of the balance of payments. The SAFE will be committed to trade and investment facilitation under the existing policy framework. What's more, the SAFE will also guard against cross-border capital flow risks, intensify regulation of foreign exchange markets, and crack down on foreign exchange irregularities, in a bid to sustain the health and stability of foreign exchange markets.