On May 23, 2023, the State Administration of Foreign Exchange (SAFE) announced an adjustment to its foreign exchange reserve management strategy. This adjustment will extend the foreign exchange reserve management implementation period by nine months. The new implementation period will run from June 24, 2025, to March 24, 2026, thus effectively extending the existing implementation period from June 25, 2024, to March 24, 2026.
Additionally, SAFE will modify the source of funds for foreign exchange reserves. The funds will transition from “self-owned funds” to a combination of “self-owned funds and self-raised funds.” Aside from this adjustment, the overall framework of SAFE’s foreign exchange reserve management strategy will remain unchanged.
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