State Administration of Foreign Exchange facts for kids

The State Administration of Foreign Exchange (SAFE) is a very important agency in China. It helps manage China's money that is used for international trade. This money is called foreign exchange reserves. Currently, China has a lot of these reserves, about $3.2 trillion! SAFE also keeps an eye on how foreign money is exchanged in China. The person in charge right now is Yi Gang.

What SAFE Does

SAFE plays a big role in China's economy. It makes sure that China's money is used wisely when trading with other countries. This agency also invests in different markets around the world. These investments help China's economy grow.

Managing Money for China

SAFE's main job is to manage China's huge foreign exchange reserves. Think of these reserves as a country's savings account for international dealings. This money is used for things like buying goods from other countries. It also helps keep China's money stable.

Investing in Markets

The agency also invests some of China's money. They invest in things like foreign currencies and goods. This helps China earn more money. It also helps protect China's economy from big changes in the world market.

Where SAFE Is Located

SAFE's main office is in Beijing, the capital city of China. It works closely with the government of China. This helps make sure China's money policies are followed.

History of SAFE

SAFE was started in 1978. For a long time, it worked quietly behind the scenes. Not many people knew much about what it did. But as China's economy grew, SAFE became much bigger. In recent years, it has become more open. Now, people know more about its important work.

See also

In Spanish: State Administration of Foreign Exchange para niños