Chinese forex regulator will continue crackdown on underground banks
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China's foreign exchange regulator says it will continue to crack down on underground banks to improve foreign exchange management and safeguard economic and financial security.

The regulator says it will maintain intense pressure to clamp down on illegal banks, among other unlawful activities.

It also says concerns over capital outflow have been on the rise as the total sum of overseas investments has grown rapidly, with some using capital with ambiguous origins.

Last week, an official statement says the principle in China's investment management has not changed.

The government will continue to support capable and qualified businesses to carry out outbound investment activities in accordance with regulations.

Author： 　　　Source：CRI　　　 Editor：Yang Fan