China expects trade to grow despite external challenges

BEIJING/SHANGHAI, Sept 29 (Reuters) - ‌China's foreign ​exchange ​regulator said on Tuesday it expects the country's trade in goods ‌and services to keep growing, and cross-border ⁠investment to remain active, despite complex external situations.

China ‌plans to roll out ‌new policies to facilitate trade and expand foreign access to domestic financial markets, the ​State Administration of Foreign Exchange (SAFE) said in its first-half Balance of Payments report.

Below ⁠are the main points from the report's policy outlook:

• Trade in ​goods is expected to grow, driven by artificial intelligence and green technology ​products.

• Trade in services is ‌also expected to grow. China will promote exports of technology and ⁠digital services, while expecting an increase in service imports.

• Foreign investment into China is expected to ⁠improve as global capital diversifies into yuan-denominated assets.

• China ​will promote two-way opening and yuan internationalisation.

• The foreign exchange authority will focus on building a "more convenient, ‌more open, safer, and smarter" foreign exchange management system.

• Authorities will ‌step up monitoring of cross-border capital flows ⁠and use artificial ‌intelligence to crack ​down on illegal foreign exchange activities.

(Reporting by Shanghai Newsroom; Editing by Kirsten ‌Donovan)

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