State Administration of Foreign Exchange facts for kids

Kids Encyclopedia Facts
State Administration of Foreign Exchange
Agency overview
Formed 1978
Jurisdiction People's Republic of China
Headquarters Beijing
Agency executive Yi Gang
Parent agency People's Bank of China
Website
www.safe.gov.cn
State Administration of Foreign Exchange
Traditional Chinese 國家外匯管理局
Simplified Chinese 国家外汇管理局

The State Administration of Foreign Exchange of the People's Republic of China is agency that controls foreign exchange market activities, and manages Chinese foreign exchange reserves valued at $3.2 trillion. The current director is Yi Gang.

Role

SAFE's was kept in secret from world and its actions were often anonymous. In last decade the agency became so big it it had to come out from hiding and open up for media. SAFE is making a lot of investing on forex and commodity market. The head office is located in Bejing and it is closely connected to ruling party.


State Administration of Foreign Exchange Facts for Kids. Kiddle Encyclopedia.