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China Releases List of Violators of Forex Rules

By Peng Qinqin and Teng Jing Xuan

China’s State Administration of Foreign Exchange (SAFE) has released a list of 10 major foreign exchange control violators, highlighting typical methods used by individuals and companies to evade restrictions on the buying and selling of foreign currency.

The list of offenders comprised five individuals and five companies. A person surnamed Che from Guandong province was fined 1 million yuan, the largest sum among the five individuals highlighted by SAFE.

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