China easing forex controls to help overseas firms

China will loosen its foreign exchange controls to give more financing support to overseas Chinese companies as the central government moves to encourage domestic firms to invest abroad, the official Financial News reported, citing a government official.

Li Dongrong, deputy director of the foreign exchange regulator, told the central bank-backed newspaper in an interview that the government will allow overseas Chinese companies to get credit directly from overseas branches of domestic banks.

He

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