In fact, many Chinese are afraid to invest, or secretly invest in foreign exchange.
There are all kinds of theories.
Is that legal in China? Let’s go to the authority to find information.
1 According to information on the website of the State Administration of Foreign Exchange, China conducted individual trials as early as 2007, but they were later shut down.
This may be because China’s financial regulation and other aspects are still inadequate to compare with those of developed Western countries.
However, judging from the external statements of the People’s Bank of China and the State Administration of Foreign Exchange from 2019 to early 2020, China has indicated its intention to open up and has been watching, managing and looking for the best time.
The China Development Forum 2019 Annual Meeting was held in Beijing from March 23 to 25, 2019.
Yi Gang, governor of the People’s Bank of China, said in a speech that “it is imperative to open the financial sector wider to the outside world.”
On January 5, 2020, SAFE announced that SAFE would deepen the reform and opening up in the field of foreign exchange in 2020.
We will continue to improve the integrated management framework of macro-prudential and micro-supervision in the foreign exchange market and build an open and competitive foreign exchange market.
2. When you use Baidu to search for “”, you will see the following prompt: it is illegal to offer and participate in transactions through online platforms.
Search “Speculation foreign exchange is legal” tip: speculation foreign exchange is illegal behavior.
Currently, China allows banks to conduct foreign exchange margin trading in the client market and the interbank market.
In 2019, China’s foreign exchange margin transaction volume was about 11,356.1 billion yuan, an increase of 2.63% over 2018.
But individuals are not allowed to trade foreign exchange in China through online trading platforms.
Chinese enterprises and institutions shall not engage in foreign exchange transactions.
Many investors will say, we can use the foreign trade platform for foreign exchange trading.
You can trade abroad, the state can’t control you, but at the same time, the state can’t protect you in case of an accident.
No matter which country is in China is not protected by law.
In fact that is to say although the domestic does not open network foreign exchange margin trading market, but speculation foreign exchange is not illegal!
We can invest in foreign exchange.
Currently, there are two ways for Chinese citizens to invest in foreign exchange, either through banks or through foreign dealers.
But keep in mind that no matter how you conduct foreign exchange transactions, China has a clear limit on the annual foreign exchange limit for its citizens, which is $50,000 per person per year.
Finally, be vigilant.
All platforms offering forex margin trading in China are illegal.
When YOU CHOOSE THE TRADING PLATFORM OF FOREIGN COUNTRIES, ALSO MUST PAY ATTENTION TO THE CREDIT THAT APPRAISE A DEALER, NOW BLACK BUSINESS, FOREIGN EXCHANGE SWINDLE MUCH COUNT DOES NOT COME OVER.
Investors still focus on Omicron, two factors may guide the market theme.
Please pay attention to the specific operation, the market is changing rapidly, investment needs to be cautious, the operation strategy is for reference only.
