Measures to improve forex management

State Council also aims to give a boost to cross-border trade and investment

The State Council has renewed its pledge to maintain the yuan at a stable and balanced level and cut red tape in the foreign exchange sector as part of measures to stabilize foreign trade, investment and expand opening-up.

In a statement following its executive meeting on Wednesday, the Cabinet said it had adopted 12 measures to improve foreign exchange management and boost cross-border trade and investment.