Qinghai held meeting for 2010 tasks

March 30, <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Qinghai forex regulator held business meeting at Xining, to study current situation and make the plan for 2010’s works.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

Since the beginning of the new year, Qinghai has realized settlement surplus in January and February at 63.90 percent up, while falling by 50.72 percent for sales of exchange. It sees the rebounding of export and in direct foreign investment as well, although uncertainties still existed veiling the provincial exchange receipts and payments.

The meeting asked for the stress of exchange management shifting to the fields of trade in goods or service, and the reform of forex account for a balanced and efficient supervision over it. Meanwhile the meeting also called for active reform of exchange management and the regulation on capital flows by simplifying the procedures of approval, in pursuit of the works realizing the convertibility under capital account and trade facility.

At the meeting details have been planned in the following aspects: enhancing transparency in forex management, strengthening supervision of cross-border money flows in prevention of unexpected risks and the like.