EFTA Document EFTA01379382

22 December 2017 EM Currency Handbook 2018: Still Fuel in the Tank Regulatory framework and approach The State Administration of Foreign Exchange (SAFE) regulates exchange controls (http://www.safe.gov.cn, while the People's Bank of China (PBOC) is responsible for implementing monetary policy and ensuring overall stability in the financial sector (http://www.pbc.aov.cn). In March 2003, the Central Banking Regulatory Commission (CBRC) was established to assume the financial supervisory role