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China forex regulator calls for greater oversight of overseas entities, but avoid ‘US-style financial hegemony’

Summary:
[unable to retrieve full-text content]China should prepare itself to take regulatory action overseas to protect its financial interests, but enforcement should be targeted so it does not mimic US long-arm jurisdiction that imposes legal standards on foreign entities, says a new report by the country’s foreign exchange regulator.Instead of following the United States, China should embrace multilateral or bilateral regulatory cooperation and focus on oversight of Chinese businesses and individuals in foreign countries, the State…

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[unable to retrieve full-text content]
China should prepare itself to take regulatory action overseas to protect its financial interests, but enforcement should be targeted so it does not mimic US long-arm jurisdiction that imposes legal standards on foreign entities, says a new report by the country’s foreign exchange regulator.Instead of following the United States, China should embrace multilateral or bilateral regulatory cooperation and focus on oversight of Chinese businesses and individuals in foreign countries, the State…

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