State Administration of Foreign Exchange Cracks Down on Illegal Cross-Border Financial Activities

On October 30, 2026, the State Administration of Foreign Exchange held a party group meeting to convey and study General Secretary Xi Jinping's speech at the Fifth Plenary Session of the 20th Central Committee of the Communist Party. The meeting discussed and deployed the implementation of related work. It was emphasized that the decisions and deployments of the Party Central Committee must be resolutely implemented, the foreign exchange management system and mechanism must be improved, reforms in the foreign exchange sector and high-level opening up must be promoted, the stability of the foreign exchange market and national economic and financial security must be maintained, illegal cross-border financial activities must be severely cracked down on, the management capacity of foreign exchange reserves must be strengthened, and the path of financial development with Chinese characteristics must be followed.