State Administration of Foreign Exchange facts for kids
|Jurisdiction||People's Republic of China|
|Parent agency||People's Bank of China|
|State Administration of Foreign Exchange|
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.
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.