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class="interlanguage-link-target"><span>العربية</span></a></li><li class="interlanguage-link interwiki-de mw-list-item"><a href="https://de.wikipedia.org/wiki/Staatliches_chinesisches_Devisenamt" title="Staatliches chinesisches Devisenamt – German" lang="de" hreflang="de" data-title="Staatliches chinesisches Devisenamt" data-language-autonym="Deutsch" data-language-local-name="German" class="interlanguage-link-target"><span>Deutsch</span></a></li><li class="interlanguage-link interwiki-es mw-list-item"><a href="https://es.wikipedia.org/wiki/State_Administration_of_Foreign_Exchange" title="State Administration of Foreign Exchange – Spanish" lang="es" hreflang="es" data-title="State Administration of Foreign Exchange" data-language-autonym="Español" data-language-local-name="Spanish" class="interlanguage-link-target"><span>Español</span></a></li><li class="interlanguage-link interwiki-eu mw-list-item"><a href="https://eu.wikipedia.org/wiki/State_Administration_of_Foreign_Exchange" title="State Administration of Foreign Exchange – Basque" lang="eu" hreflang="eu" data-title="State Administration of Foreign Exchange" data-language-autonym="Euskara" data-language-local-name="Basque" class="interlanguage-link-target"><span>Euskara</span></a></li><li class="interlanguage-link interwiki-fr mw-list-item"><a href="https://fr.wikipedia.org/wiki/State_Administration_of_Foreign_Exchange" title="State Administration of Foreign Exchange – French" lang="fr" hreflang="fr" data-title="State Administration of Foreign Exchange" data-language-autonym="Français" data-language-local-name="French" class="interlanguage-link-target"><span>Français</span></a></li><li class="interlanguage-link interwiki-id mw-list-item"><a href="https://id.wikipedia.org/wiki/Administrasi_Valuta_Asing_Negara" title="Administrasi Valuta Asing Negara – Indonesian" lang="id" hreflang="id" data-title="Administrasi Valuta Asing Negara" data-language-autonym="Bahasa Indonesia" data-language-local-name="Indonesian" class="interlanguage-link-target"><span>Bahasa Indonesia</span></a></li><li class="interlanguage-link interwiki-it mw-list-item"><a href="https://it.wikipedia.org/wiki/State_Administration_of_Foreign_Exchange" title="State Administration of Foreign Exchange – Italian" lang="it" hreflang="it" data-title="State Administration of Foreign Exchange" data-language-autonym="Italiano" data-language-local-name="Italian" class="interlanguage-link-target"><span>Italiano</span></a></li><li class="interlanguage-link interwiki-ru mw-list-item"><a href="https://ru.wikipedia.org/wiki/%D0%93%D0%BE%D1%81%D1%83%D0%B4%D0%B0%D1%80%D1%81%D1%82%D0%B2%D0%B5%D0%BD%D0%BD%D0%BE%D0%B5_%D0%B2%D0%B0%D0%BB%D1%8E%D1%82%D0%BD%D0%BE%D0%B5_%D1%83%D0%BF%D1%80%D0%B0%D0%B2%D0%BB%D0%B5%D0%BD%D0%B8%D0%B5_%D0%9A%D0%9D%D0%A0" title="Государственное валютное управление КНР – Russian" lang="ru" hreflang="ru" data-title="Государственное валютное управление КНР" data-language-autonym="Русский" data-language-local-name="Russian" class="interlanguage-link-target"><span>Русский</span></a></li><li class="interlanguage-link interwiki-simple mw-list-item"><a href="https://simple.wikipedia.org/wiki/State_Administration_of_Foreign_Exchange" title="State Administration of Foreign Exchange – Simple English" lang="en-simple" hreflang="en-simple" data-title="State Administration of Foreign Exchange" data-language-autonym="Simple English" data-language-local-name="Simple English" class="interlanguage-link-target"><span>Simple English</span></a></li><li class="interlanguage-link interwiki-zh mw-list-item"><a href="https://zh.wikipedia.org/wiki/%E5%9B%BD%E5%AE%B6%E5%A4%96%E6%B1%87%E7%AE%A1%E7%90%86%E5%B1%80" title="国家外汇管理局 – Chinese" lang="zh" hreflang="zh" data-title="国家外汇管理局" data-language-autonym="中文" data-language-local-name="Chinese" class="interlanguage-link-target"><span>中文</span></a></li> </ul> <div class="after-portlet after-portlet-lang"><span class="wb-langlinks-edit 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class="vector-body" aria-labelledby="firstHeading" data-mw-ve-target-container> <div class="vector-body-before-content"> <div class="mw-indicators"> </div> <div id="siteSub" class="noprint">From Wikipedia, the free encyclopedia</div> </div> <div id="contentSub"><div id="mw-content-subtitle"></div></div> <div id="mw-content-text" class="mw-body-content"><div class="mw-content-ltr mw-parser-output" lang="en" dir="ltr"><div class="shortdescription nomobile noexcerpt noprint searchaux" style="display:none">Chinese State-owned Agency</div> <style data-mw-deduplicate="TemplateStyles:r1257001546">.mw-parser-output .infobox-subbox{padding:0;border:none;margin:-3px;width:auto;min-width:100%;font-size:100%;clear:none;float:none;background-color:transparent}.mw-parser-output .infobox-3cols-child{margin:auto}.mw-parser-output .infobox .navbar{font-size:100%}@media screen{html.skin-theme-clientpref-night .mw-parser-output .infobox-full-data:not(.notheme)>div:not(.notheme)[style]{background:#1f1f23!important;color:#f8f9fa}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .infobox-full-data:not(.notheme) div:not(.notheme){background:#1f1f23!important;color:#f8f9fa}}@media(min-width:640px){body.skin--responsive .mw-parser-output .infobox-table{display:table!important}body.skin--responsive .mw-parser-output .infobox-table>caption{display:table-caption!important}body.skin--responsive .mw-parser-output .infobox-table>tbody{display:table-row-group}body.skin--responsive .mw-parser-output .infobox-table tr{display:table-row!important}body.skin--responsive .mw-parser-output .infobox-table th,body.skin--responsive .mw-parser-output .infobox-table td{padding-left:inherit;padding-right:inherit}}</style><table class="infobox"><caption class="infobox-title" style="font-size: 125%;">State Administration of Foreign Exchange (SAFE)</caption><tbody><tr><td colspan="2" class="infobox-subheader">国家外汇管理局<br />Guójiā wàihuì guǎnlǐ jú</td></tr><tr><td colspan="2" class="infobox-full-data"><span class="mw-default-size" typeof="mw:File/Frameless"><a href="/wiki/File:State_Administration_of_Foreign_Exchange,_Chengfang_St_(20220730163349).jpg" class="mw-file-description"><img src="//upload.wikimedia.org/wikipedia/commons/thumb/e/ef/State_Administration_of_Foreign_Exchange%2C_Chengfang_St_%2820220730163349%29.jpg/220px-State_Administration_of_Foreign_Exchange%2C_Chengfang_St_%2820220730163349%29.jpg" decoding="async" width="220" height="147" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/e/ef/State_Administration_of_Foreign_Exchange%2C_Chengfang_St_%2820220730163349%29.jpg/330px-State_Administration_of_Foreign_Exchange%2C_Chengfang_St_%2820220730163349%29.jpg 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/e/ef/State_Administration_of_Foreign_Exchange%2C_Chengfang_St_%2820220730163349%29.jpg/440px-State_Administration_of_Foreign_Exchange%2C_Chengfang_St_%2820220730163349%29.jpg 2x" data-file-width="4032" data-file-height="2688" /></a></span></td></tr><tr><th colspan="2" class="infobox-header" style="background-color: #efefef">Agency overview</th></tr><tr><th scope="row" class="infobox-label">Formed</th><td class="infobox-data">June 1979<span class="noprint">; 45 years ago</span><span style="display:none"> (<span class="bday dtstart published updated">1979-06</span>)</span></td></tr><tr><th scope="row" class="infobox-label">Jurisdiction</th><td class="infobox-data"><span class="flagicon"><span class="mw-image-border" typeof="mw:File"><a href="/wiki/China" title="China"><img alt="China" src="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Flag_of_the_People%27s_Republic_of_China.svg/23px-Flag_of_the_People%27s_Republic_of_China.svg.png" decoding="async" width="23" height="15" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Flag_of_the_People%27s_Republic_of_China.svg/35px-Flag_of_the_People%27s_Republic_of_China.svg.png 1.5x, //upload.wikimedia.org/wikipedia/commons/thumb/f/fa/Flag_of_the_People%27s_Republic_of_China.svg/45px-Flag_of_the_People%27s_Republic_of_China.svg.png 2x" data-file-width="900" data-file-height="600" /></a></span></span> <a href="/wiki/China" title="China">China</a></td></tr><tr><th scope="row" class="infobox-label">Headquarters</th><td class="infobox-data"><a href="/wiki/Beijing" title="Beijing">Beijing</a></td></tr><tr><th scope="row" class="infobox-label">Agency executive</th><td class="infobox-data"><style data-mw-deduplicate="TemplateStyles:r1126788409">.mw-parser-output .plainlist ol,.mw-parser-output .plainlist ul{line-height:inherit;list-style:none;margin:0;padding:0}.mw-parser-output .plainlist ol li,.mw-parser-output .plainlist ul li{margin-bottom:0}</style><div class="plainlist"><ul><li style="text-indent: -1em; padding-left: 1em;"><a href="/w/index.php?title=Zhu_Hexin&action=edit&redlink=1" class="new" title="Zhu Hexin (page does not exist)">Zhu Hexin</a><span class="noprint" style="font-size:85%; font-style: normal;"> [<a href="https://zh.wikipedia.org/wiki/%E6%9C%B1%E9%B9%A4%E6%96%B0" class="extiw" title="zh:朱鹤新">zh</a>]</span></li></ul></div></td></tr><tr><th scope="row" class="infobox-label">Parent agency</th><td class="infobox-data"><a href="/wiki/People%27s_Bank_of_China" title="People's Bank of China">People's Bank of China</a></td></tr><tr><th scope="row" class="infobox-label">Website</th><td class="infobox-data"><span class="url"><a rel="nofollow" class="external text" href="https://www.safe.gov.cn/">www<wbr />.safe<wbr />.gov<wbr />.cn</a></span> <span class="mw-valign-text-top noprint" typeof="mw:File/Frameless"><a href="https://www.wikidata.org/wiki/Q1512824#P856" title="Edit this at Wikidata"><img alt="Edit this at Wikidata" src="//upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/10px-OOjs_UI_icon_edit-ltr-progressive.svg.png" decoding="async" width="10" height="10" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/15px-OOjs_UI_icon_edit-ltr-progressive.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/8/8a/OOjs_UI_icon_edit-ltr-progressive.svg/20px-OOjs_UI_icon_edit-ltr-progressive.svg.png 2x" data-file-width="20" data-file-height="20" /></a></span></td></tr></tbody></table> <link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546"><table class="infobox"><tbody><tr><th colspan="2" class="infobox-above" style="color: #202122;background-color:#b0c4de">State Administration of Foreign Exchange</th></tr><tr style="display:none;"><td colspan="2" class="infobox-full-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546"></td></tr><tr><th scope="row" class="infobox-label" style="font-weight:normal;"><a href="/wiki/Simplified_Chinese_characters" title="Simplified Chinese characters">Simplified Chinese</a></th><td class="infobox-data"><span title="Chinese-language text"><span lang="zh-Hans" style="font-size: 1rem;">国家外汇管理局</span></span></td></tr><tr><th scope="row" class="infobox-label" style="font-weight:normal;"><a href="/wiki/Traditional_Chinese_characters" title="Traditional Chinese characters">Traditional Chinese</a></th><td class="infobox-data"><span title="Chinese-language text"><span lang="zh-Hant" style="font-size: 1rem;">國家外匯管理局</span></span></td></tr><tr><td colspan="2" class="infobox-full-data"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546"><table class="infobox-subbox mw-collapsible mw-collapsed" style="display:inline-table; text-align: left;"><tbody><tr><th colspan="2" class="infobox-above" style="font-size: 100%; text-align: left;color: #202122; background-color: #f9ffbc;">Transcriptions</th></tr><tr><th colspan="2" class="infobox-header" style="color: #202122;background-color: #dcffc9;"><a href="/wiki/Standard_Chinese" title="Standard Chinese">Standard Mandarin</a></th></tr><tr><th scope="row" class="infobox-label" style="font-weight:normal;"><a href="/wiki/Hanyu_Pinyin" class="mw-redirect" title="Hanyu Pinyin">Hanyu Pinyin</a></th><td class="infobox-data"><span title="Chinese-language romanization"><span style="font-style: normal" lang="zh-Latn">Guójiā wàihuì guǎnlǐ jú</span></span></td></tr></tbody></table></td><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1257001546"></tr><tr style="display:none"><td colspan="2"> </td></tr></tbody></table> <p>The <b>State Administration of Foreign Exchange</b> (<b>SAFE</b>) of the <a href="/wiki/China" title="China">People's Republic of China</a> is an administrative agency under the <a href="/wiki/State_Council_of_the_People%27s_Republic_of_China" title="State Council of the People's Republic of China">State Council</a> tasked with drafting rules and regulations governing <a href="/wiki/Foreign_exchange_market" title="Foreign exchange market">foreign exchange market</a> activities, and managing the state <a href="/wiki/Foreign-exchange_reserves" class="mw-redirect" title="Foreign-exchange reserves">foreign-exchange reserves</a>, which at the end of December 2016 stood at $3.01 <a href="/wiki/Orders_of_magnitude_(numbers)#1012" title="Orders of magnitude (numbers)">trillion</a> for the <a href="/wiki/People%27s_Bank_of_China" title="People's Bank of China">People's Bank of China</a>. The current director is <a href="/w/index.php?title=Zhu_Hexin&action=edit&redlink=1" class="new" title="Zhu Hexin (page does not exist)">Zhu Hexin</a>. </p> <meta property="mw:PageProp/toc" /> <div class="mw-heading mw-heading2"><h2 id="Background">Background</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=State_Administration_of_Foreign_Exchange&action=edit&section=1" title="Edit section: Background"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>In 1979, the <a href="/wiki/State_Council_of_the_People%27s_Republic_of_China" title="State Council of the People's Republic of China">State Council</a> approved the <a href="/wiki/People%27s_Bank_of_China" title="People's Bank of China">People's Bank of China</a>'s Proposal on the Reform of China's Banking System.<sup id="cite_ref-:3_1-0" class="reference"><a href="#cite_note-:3-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 152">: 152 </span></sup> This resulted in the establishment of the State Central Administration of Foreign Exchange (SCAFE), which managed China's then-small amount of foreign reserves.<sup id="cite_ref-:3_1-1" class="reference"><a href="#cite_note-:3-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 152">: 152 </span></sup> Although under the authority of the State Council, SCAFE was administered by the People's Bank of China.<sup id="cite_ref-:3_1-2" class="reference"><a href="#cite_note-:3-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 152">: 152 </span></sup> After the State Council reorganization in 1983, SCAFE became a subsidiary of the People's Bank of China and became known by its current name, the State Administration of Foreign Exchange.<sup id="cite_ref-:3_1-3" class="reference"><a href="#cite_note-:3-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 152">: 152 </span></sup> In 1988, SAFE was elevated to report directly to the State Council, but remained under People's Bank of China's management.<sup id="cite_ref-:3_1-4" class="reference"><a href="#cite_note-:3-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 152">: 152 </span></sup> </p><p>SAFE has a vice-ministry level position within the Chinese bureaucracy.<sup id="cite_ref-:3_1-5" class="reference"><a href="#cite_note-:3-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 153">: 153 </span></sup> Historically, its lead executive has also generally held the position of vice governor of the People's Bank of China.<sup id="cite_ref-:3_1-6" class="reference"><a href="#cite_note-:3-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 153">: 153 </span></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Function">Function</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=State_Administration_of_Foreign_Exchange&action=edit&section=2" title="Edit section: Function"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>SAFE is the foreign exchange management administrative body of the People's Bank of China.<sup id="cite_ref-:3_1-7" class="reference"><a href="#cite_note-:3-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 5">: 5 </span></sup> </p><p>SAFE's existence and role were initially closely guarded secrets, its subsidiaries were minor, but the funds under management have increased significantly in recent years. They were responsible for running SAFE's portfolio across the various time zones, replicating the investments of head office in Beijing.<sup id="cite_ref-emerges_2-0" class="reference"><a href="#cite_note-emerges-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> </p><p>SAFE created and controlled the <a href="/wiki/Central_Huijin_Investment" title="Central Huijin Investment">Central Huijin Investment</a>, but in September 2007, it sold Central Huijin to the newly formed <a href="/wiki/Sovereign_funds_of_China" title="Sovereign funds of China">sovereign wealth fund</a>, <a href="/wiki/China_Investment_Corporation" title="China Investment Corporation">China Investment Corporation</a> (CIC).<sup id="cite_ref-:3_1-8" class="reference"><a href="#cite_note-:3-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 136">: 136 </span></sup> </p><p>With the burgeoning of China's reserves and amidst increasing rivalry between state agencies, there are signs of growing independence of and competition between the subsidiaries.<sup id="cite_ref-emerges_2-1" class="reference"><a href="#cite_note-emerges-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> </p><p>Since CIC entered global markets shortly before the <a href="/wiki/2007%E2%80%932008_financial_crisis" title="2007–2008 financial crisis">2007–2008 financial crisis</a>, its initial performance was lackluster.<sup id="cite_ref-:3_1-9" class="reference"><a href="#cite_note-:3-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 14">: 14 </span></sup> This in turn created a political opening for SAFE to expand the sovereign funds under its jurisdiction, which it did in 2013.<sup id="cite_ref-:3_1-10" class="reference"><a href="#cite_note-:3-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 14">: 14 </span></sup> </p><p>SAFE's sovereign funds invest part of China's foreign exchange reserves in investment vehicles including infrastructure projects, real estate, private equity, and strategic resources.<sup id="cite_ref-:3_1-11" class="reference"><a href="#cite_note-:3-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 30">: 30 </span></sup> SAFE's sovereign funds invest in both foreign and domestic Chinese companies.<sup id="cite_ref-:3_1-12" class="reference"><a href="#cite_note-:3-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 14">: 14 </span></sup> It has indirectly contributed to the financing of the <a href="/wiki/Belt_and_Road_Initiative" title="Belt and Road Initiative">Belt and Road Initiative</a>,<sup id="cite_ref-:3_1-13" class="reference"><a href="#cite_note-:3-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 14">: 14 </span></sup> including through its 65% ownership of the <a href="/wiki/Silk_Road_Fund" title="Silk Road Fund">Silk Road Fund</a>.<sup id="cite_ref-:3_1-14" class="reference"><a href="#cite_note-:3-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 161">: 161 </span></sup> It contributed some of the Fund's initial capital, along with <a href="/wiki/China_Development_Bank" title="China Development Bank">China Development Bank</a>, CIC, and <a href="/wiki/Export%E2%80%93Import_Bank_of_China" title="Export–Import Bank of China">Export-Import Bank of China</a>.<sup id="cite_ref-:0_3-0" class="reference"><a href="#cite_note-:0-3"><span class="cite-bracket">[</span>3<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 221">: 221 </span></sup> </p><p>The SAFE Co-Financing Office extends foreign exchange entrusted loans to qualified Chinese companies seeking to engage in foreign investment, merger, or acquisition.<sup id="cite_ref-:3_1-15" class="reference"><a href="#cite_note-:3-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Pages: 24–27">: 24–27 </span></sup> SAFE provides preferential loan access to the strategically important <a href="/wiki/State-owned_enterprises_of_China" title="State-owned enterprises of China">state-owned enterprises</a> of the <a href="/wiki/State-owned_Assets_Supervision_and_Administration_Commission_of_the_State_Council" title="State-owned Assets Supervision and Administration Commission of the State Council">State-Owned Assets Supervision and Administration Commission</a> (SASAC).<sup id="cite_ref-:3_1-16" class="reference"><a href="#cite_note-:3-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 172">: 172 </span></sup> </p> <div class="mw-heading mw-heading2"><h2 id="Management">Management</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=State_Administration_of_Foreign_Exchange&action=edit&section=3" title="Edit section: Management"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The current Administrator of SAFE is Zhu Hexin. Zheng Wei, Li Hongyan and Xu Zhibin are Deputy Administrators.<sup id="cite_ref-4" class="reference"><a href="#cite_note-4"><span class="cite-bracket">[</span>4<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="Directors">Directors</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=State_Administration_of_Foreign_Exchange&action=edit&section=4" title="Edit section: Directors"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <table class="wikitable"> <tbody><tr> <th>Name </th> <th>Chinese name </th> <th>Took office </th> <th>Left office </th> <th><abbr title="Reference(s)">Ref.</abbr> </th></tr> <tr> <td><a href="/w/index.php?title=Bu_Ming&action=edit&redlink=1" class="new" title="Bu Ming (page does not exist)">Bu Ming</a> </td> <td><span title="Chinese-language text"><span lang="zh-Hans">卜明</span></span> </td> <td>June 1979 </td> <td>April 1982 </td> <td> </td></tr> <tr> <td><a href="/w/index.php?title=Tang_Gengyao&action=edit&redlink=1" class="new" title="Tang Gengyao (page does not exist)">Tang Gengyao</a> </td> <td><span title="Chinese-language text"><span lang="zh-Hans">唐赓尧</span></span> </td> <td>April 1982 </td> <td>December 1990 </td> <td> </td></tr> <tr> <td><a href="/w/index.php?title=Yin_Jieyan&action=edit&redlink=1" class="new" title="Yin Jieyan (page does not exist)">Yin Jieyan</a> </td> <td><span title="Chinese-language text"><span lang="zh-Hans">殷介炎</span></span> </td> <td>December 1990 </td> <td>January 1994 </td> <td> </td></tr> <tr> <td><a href="/w/index.php?title=Zhu_Xiaohua&action=edit&redlink=1" class="new" title="Zhu Xiaohua (page does not exist)">Zhu Xiaohua</a> </td> <td><span title="Chinese-language text"><span lang="zh-Hans">朱小华</span></span> </td> <td>January 1994 </td> <td>September 1995 </td> <td> </td></tr> <tr> <td><a href="/wiki/Zhou_Xiaochuan" title="Zhou Xiaochuan">Zhou Xiaochuan</a> </td> <td><span title="Chinese-language text"><span lang="zh-Hans">周小川</span></span> </td> <td>September 1995 </td> <td>April 1998 </td> <td> </td></tr> <tr> <td><a href="/wiki/Wu_Xiaoling" title="Wu Xiaoling">Wu Xiaoling</a> </td> <td><span title="Chinese-language text"><span lang="zh-Hans">吴晓灵</span></span> </td> <td>April 1998 </td> <td>October 1998 </td> <td> </td></tr> <tr> <td><a href="/w/index.php?title=Li_Fuxiang&action=edit&redlink=1" class="new" title="Li Fuxiang (page does not exist)">Li Fuxiang</a> </td> <td><span title="Chinese-language text"><span lang="zh-Hans">李福祥</span></span> </td> <td>October 1998 </td> <td>May 2000 </td> <td> </td></tr> <tr> <td><a href="/wiki/Wu_Xiaoling" title="Wu Xiaoling">Wu Xiaoling</a> </td> <td><span title="Chinese-language text"><span lang="zh-Hans">吴晓灵</span></span> </td> <td>May 2000 </td> <td>April 2001 </td> <td> </td></tr> <tr> <td><a href="/wiki/Guo_Shuqing" title="Guo Shuqing">Guo Shuqing</a> </td> <td><span title="Chinese-language text"><span lang="zh-Hans">郭树清</span></span> </td> <td>April 2001 </td> <td>March 2005 </td> <td> </td></tr> <tr> <td><a href="/wiki/Hu_Xiaolian" title="Hu Xiaolian">Hu Xiaolian</a> </td> <td><span title="Chinese-language text"><span lang="zh-Hans">胡晓炼</span></span> </td> <td>March 2005 </td> <td>July 2009 </td> <td> </td></tr> <tr> <td><a href="/wiki/Yi_Gang" title="Yi Gang">Yi Gang</a> </td> <td><span title="Chinese-language text"><span lang="zh-Hans">易纲</span></span> </td> <td>17 July 2009 </td> <td>12 January 2016 </td> <td> </td></tr> <tr> <td><a href="/wiki/Pan_Gongsheng" title="Pan Gongsheng">Pan Gongsheng</a> </td> <td><span title="Chinese-language text"><span lang="zh-Hans">潘功胜</span></span> </td> <td>12 January 2016 </td> <td>24 November 2023 </td> <td> </td></tr> <tr> <td><a href="/w/index.php?title=Zhu_Hexin&action=edit&redlink=1" class="new" title="Zhu Hexin (page does not exist)">Zhu Hexin</a> </td> <td><span title="Chinese-language text"><span lang="zh-Hans">朱鹤新</span></span> </td> <td>24 November 2023 </td> <td><i>Incumbent</i> </td> <td> </td></tr></tbody></table> <div class="mw-heading mw-heading2"><h2 id="Structure">Structure</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=State_Administration_of_Foreign_Exchange&action=edit&section=5" title="Edit section: Structure"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li>SAFE Head Office <ul><li>General Affairs Department (Policy and Regulation Department)</li> <li>Balance of Payments Department</li> <li>Current Account Management Department</li> <li>Capital Account Management Department</li> <li>Supervision and Inspection Department</li> <li>Reserves Management Department</li> <li>Human Resources Department (Internal Auditing Department)</li> <li>Science and Technology Department</li></ul></li> <li>Institutions affiliated with the SAFE <ul><li>Central Foreign Exchange Business Center</li> <li>Information Center</li> <li>General Services Center</li> <li>Editorial Office of the <i>Foreign Exchange of China</i> journal.</li></ul></li> <li>Major overseas investment entities of SAFE <ul><li>SAFE Investment Company Limited (华安投资有限公司), registered in Hong Kong, China, on June 2, 1997</li> <li>Investment Company of the People's Republic of China (华新投资有限公司), registered in Singapore, on September 10, 2008</li> <li>Gingko Tree Investment LTD (华欧投资有限公司), registered in London, United Kingdom, on December 11, 2009,<sup id="cite_ref-5" class="reference"><a href="#cite_note-5"><span class="cite-bracket">[</span>5<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-6" class="reference"><a href="#cite_note-6"><span class="cite-bracket">[</span>6<span class="cite-bracket">]</span></a></sup></li> <li>Beryl Datura Investment Limited, registered in British Virgin Islands, 2012</li> <li>Trading room in Frankfurt (法兰克福交易室), registered in Frankfurt, Germany, 2012</li></ul></li></ul> <div class="mw-heading mw-heading2"><h2 id="Functions">Functions</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=State_Administration_of_Foreign_Exchange&action=edit&section=6" title="Edit section: Functions"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li>drafting laws, standards, policies and reform of the forex administration system</li> <li><a href="/wiki/Risk_management" title="Risk management">risk management</a> and <a href="/wiki/Financial_supervision" class="mw-redirect" title="Financial supervision">monitoring</a> of <a href="/wiki/Balance_of_payments" title="Balance of payments">balance of payments</a> and the <a href="/w/index.php?title=External_credit&action=edit&redlink=1" class="new" title="External credit (page does not exist)">external credit</a> and <a href="/wiki/External_debt" title="External debt">external debt</a></li> <li>development and supervision of the <a href="/wiki/Foreign_exchange_market" title="Foreign exchange market">foreign exchange market</a>,</li> <li>setting <a href="/wiki/Renminbi" title="Renminbi">Renminbi</a> <a href="/wiki/Convertibility" title="Convertibility">convertibility</a> / <a href="/wiki/Exchange_rate" title="Exchange rate">exchange rate</a> policy</li> <li>operations and management of <a href="/wiki/Foreign_exchange_reserves" title="Foreign exchange reserves">foreign exchange reserves</a>, <a href="/wiki/Gold_reserves" class="mw-redirect" title="Gold reserves">gold reserves</a>, and other foreign exchange <a href="/wiki/Assets" class="mw-redirect" title="Assets">assets</a> of the state.</li> <li>regulating <a href="/wiki/Cryptocurrency" title="Cryptocurrency">Cryptocurrency</a><sup id="cite_ref-techcrunchBTC_7-0" class="reference"><a href="#cite_note-techcrunchBTC-7"><span class="cite-bracket">[</span>7<span class="cite-bracket">]</span></a></sup><sup id="cite_ref-ChinaDaily20180105_8-0" class="reference"><a href="#cite_note-ChinaDaily20180105-8"><span class="cite-bracket">[</span>8<span class="cite-bracket">]</span></a></sup></li></ul> <div class="mw-heading mw-heading2"><h2 id="Investments">Investments</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=State_Administration_of_Foreign_Exchange&action=edit&section=7" title="Edit section: Investments"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>The magnitude of China's reserves is disclosed, but not its composition. At the end of 2006, approximately 70 percent of the reserves were in U.S. dollar assets, 20 per cent in <a href="/wiki/Euro" title="Euro">euros</a> and 10 per cent in other currencies, according to economist <a href="/wiki/Brad_Setser" class="mw-redirect" title="Brad Setser">Brad Setser</a>. Most of China's currency reserves are invested in high grade U.S.-dollar-denominated debt, such as <a href="/wiki/Treasury_security" class="mw-redirect" title="Treasury security">U.S. Treasuries</a>, though as early as 2007 it was estimated that SAFE held $100 billion worth of U.S. <a href="/wiki/Mortgage-backed_security" title="Mortgage-backed security">mortgage-backed securities</a>, hoping to achieve higher returns than those on U.S. Treasuries.<sup id="cite_ref-9" class="reference"><a href="#cite_note-9"><span class="cite-bracket">[</span>9<span class="cite-bracket">]</span></a></sup> </p><p>"The Hong Kong subsidiary is notably taking more risk in managing reserves," according to an informed source.<sup id="cite_ref-emerges_2-2" class="reference"><a href="#cite_note-emerges-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> The Financial Times reported on 4 January 2008 that the Hong Kong branch had bought stakes of less than 1 percent in both <a href="/wiki/Commonwealth_Bank" title="Commonwealth Bank">Commonwealth Bank of Australia</a> and <a href="/wiki/Australia_and_New_Zealand_Banking_Group" class="mw-redirect" title="Australia and New Zealand Banking Group">Australia and New Zealand Banking Group</a>, respectively Australia's second and third-biggest lender by assets, over the preceding two months. The ANZ purchase has been confirmed by the bank.<sup id="cite_ref-10" class="reference"><a href="#cite_note-10"><span class="cite-bracket">[</span>10<span class="cite-bracket">]</span></a></sup> SAFE also invested in <a href="/wiki/BP" title="BP">BP</a><sup id="cite_ref-11" class="reference"><a href="#cite_note-11"><span class="cite-bracket">[</span>11<span class="cite-bracket">]</span></a></sup> and <a href="/wiki/Total_S.A." class="mw-redirect" title="Total S.A.">Total</a><sup id="cite_ref-12" class="reference"><a href="#cite_note-12"><span class="cite-bracket">[</span>12<span class="cite-bracket">]</span></a></sup> in April 2008. </p><p>SAFE owns 65 percent of the Silk Road Fund.<sup id="cite_ref-:3_1-17" class="reference"><a href="#cite_note-:3-1"><span class="cite-bracket">[</span>1<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 161">: 161 </span></sup> </p><p>SAFE owns the company Buttonwood Investment Holding Company Ltd.<sup id="cite_ref-:Chen2_13-0" class="reference"><a href="#cite_note-:Chen2-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 85">: 85 </span></sup> As of 2019, Buttonwood is the majority owner of <a href="/wiki/Export%E2%80%93Import_Bank_of_China" title="Export–Import Bank of China">Export-Import Bank of China</a> and is an owner of <a href="/wiki/China_Development_Bank" title="China Development Bank">China Development Bank</a>, which are two of China's <a href="/wiki/Policy_bank" title="Policy bank">policy banks</a>.<sup id="cite_ref-:Chen2_13-1" class="reference"><a href="#cite_note-:Chen2-13"><span class="cite-bracket">[</span>13<span class="cite-bracket">]</span></a></sup><sup class="reference nowrap"><span title="Page: 85">: 85 </span></sup> </p> <div class="mw-heading mw-heading3"><h3 id="2008_diversification_and_losses">2008 diversification and losses</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=State_Administration_of_Foreign_Exchange&action=edit&section=8" title="Edit section: 2008 diversification and losses"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>As the reserves continue to grow, the central bank is aiming to boost investment returns on its foreign-exchange holdings by making somewhat riskier but higher-yielding investments. Pronouncements of Chinese officials are consequently closely scrutinised;<sup id="cite_ref-milestone_14-0" class="reference"><a href="#cite_note-milestone-14"><span class="cite-bracket">[</span>14<span class="cite-bracket">]</span></a></sup> each trade is reportedly up to US$1 billion.<sup id="cite_ref-emerges_2-3" class="reference"><a href="#cite_note-emerges-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> As part of diversification in 2008, SAFE acquired small stakes in dozens of companies including British companies <a href="/wiki/Rio_Tinto_Group" class="mw-redirect" title="Rio Tinto Group">Rio Tinto</a>, <a href="/wiki/Royal_Dutch_Shell" class="mw-redirect" title="Royal Dutch Shell">Royal Dutch Shell</a>, <a href="/wiki/BP" title="BP">BP</a>, <a href="/wiki/Barclays" title="Barclays">Barclays</a>, <a href="/wiki/Tesco" title="Tesco">Tesco</a> and <a href="/wiki/Royal_Bank_of_Scotland" title="Royal Bank of Scotland">RBS</a>.<sup id="cite_ref-ft-billions-lost_15-0" class="reference"><a href="#cite_note-ft-billions-lost-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> </p><p><a href="/wiki/Brad_Setser" class="mw-redirect" title="Brad Setser">Brad Setser</a>, speaking in March 2009 said losses as a result of this diversification at the peak of the market "would exceed US$80 billion."<sup id="cite_ref-ft-billions-lost_15-1" class="reference"><a href="#cite_note-ft-billions-lost-15"><span class="cite-bracket">[</span>15<span class="cite-bracket">]</span></a></sup> </p><p><a href="/wiki/Brad_Setser" class="mw-redirect" title="Brad Setser">Brad Setser</a> said:"SAFE has built up one of the largest US equity portfolios of any foreign government entity investing abroad, including the major sovereign wealth funds....It appears SAFE began diversifying into equities early in 2007 and, rather than being deterred by the subprime crisis, it continued to buy."<sup id="cite_ref-16" class="reference"><a href="#cite_note-16"><span class="cite-bracket">[</span>16<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading3"><h3 id="2009_investment_policy">2009 investment policy</h3><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=State_Administration_of_Foreign_Exchange&action=edit&section=9" title="Edit section: 2009 investment policy"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>On March 23, 2009, deputy governor of China's central bank, <a href="/wiki/Hu_Xiaolian" title="Hu Xiaolian">Hu Xiaolian</a> told reporter:"China will continue investing in U.S. government bonds while paying close attention to possible fluctuations in the value of those assets.... Investing in U.S. Treasury bonds is an important component of China's foreign currency reserve investments..."<i><sup id="cite_ref-17" class="reference"><a href="#cite_note-17"><span class="cite-bracket">[</span>17<span class="cite-bracket">]</span></a></sup></i> </p> <div class="mw-heading mw-heading2"><h2 id="Branches">Branches</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=State_Administration_of_Foreign_Exchange&action=edit&section=10" title="Edit section: Branches"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <p>SAFE has branches and offices in all provinces, autonomous regions and municipalities. As of 2005, it had 36 branch offices, 298 central sub-branches and 508 sub-branches. </p><p>It has branches in <a href="/wiki/Hong_Kong" title="Hong Kong">Hong Kong</a>, <a href="/wiki/Singapore" title="Singapore">Singapore</a>, <a href="/wiki/London" title="London">London</a> and <a href="/wiki/New_York_City" title="New York City">New York</a>.<sup id="cite_ref-emerges_2-4" class="reference"><a href="#cite_note-emerges-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> </p><p>The Hong Kong office (华安公司 SAFE Investment Company Ltd) was set up just in June 1997, before the <a href="/wiki/Handover_of_Hong_Kong" title="Handover of Hong Kong">handover of Hong Kong</a>, and served an important role in defending the value of the <a href="/wiki/Renminbi" title="Renminbi">Renminbi</a> and <a href="/wiki/Hong_Kong_dollar" title="Hong Kong dollar">Hong Kong dollar</a>'s <a href="/wiki/Fixed_exchange_rate" class="mw-redirect" title="Fixed exchange rate">peg</a> to the <a href="/wiki/US_dollar" class="mw-redirect" title="US dollar">US dollar</a> against international speculators. It was a minor outpost for SAFE for several years, with only about $20bn in funds under management.<sup id="cite_ref-emerges_2-5" class="reference"><a href="#cite_note-emerges-2"><span class="cite-bracket">[</span>2<span class="cite-bracket">]</span></a></sup> </p> <div class="mw-heading mw-heading2"><h2 id="See_also">See also</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=State_Administration_of_Foreign_Exchange&action=edit&section=11" title="Edit section: See also"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><a href="/wiki/Foreign-exchange_reserves" class="mw-redirect" title="Foreign-exchange reserves">Foreign-exchange reserves</a></li> <li><a href="/wiki/Foreign_exchange_reserves_of_China" class="mw-redirect" title="Foreign exchange reserves of China">Foreign exchange reserves of China</a></li> <li><a href="/wiki/List_of_countries_by_foreign_exchange_reserves" class="mw-redirect" title="List of countries by foreign exchange reserves">List of countries by foreign exchange reserves</a></li></ul> <div class="mw-heading mw-heading2"><h2 id="References">References</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=State_Administration_of_Foreign_Exchange&action=edit&section=12" title="Edit section: References"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <style data-mw-deduplicate="TemplateStyles:r1239543626">.mw-parser-output .reflist{margin-bottom:0.5em;list-style-type:decimal}@media screen{.mw-parser-output .reflist{font-size:90%}}.mw-parser-output .reflist .references{font-size:100%;margin-bottom:0;list-style-type:inherit}.mw-parser-output .reflist-columns-2{column-width:30em}.mw-parser-output .reflist-columns-3{column-width:25em}.mw-parser-output .reflist-columns{margin-top:0.3em}.mw-parser-output .reflist-columns ol{margin-top:0}.mw-parser-output .reflist-columns li{page-break-inside:avoid;break-inside:avoid-column}.mw-parser-output .reflist-upper-alpha{list-style-type:upper-alpha}.mw-parser-output .reflist-upper-roman{list-style-type:upper-roman}.mw-parser-output .reflist-lower-alpha{list-style-type:lower-alpha}.mw-parser-output .reflist-lower-greek{list-style-type:lower-greek}.mw-parser-output .reflist-lower-roman{list-style-type:lower-roman}</style><div class="reflist"> <div class="mw-references-wrap mw-references-columns"><ol class="references"> <li id="cite_note-:3-1"><span class="mw-cite-backlink">^ <a href="#cite_ref-:3_1-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:3_1-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-:3_1-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-:3_1-3"><sup><i><b>d</b></i></sup></a> <a href="#cite_ref-:3_1-4"><sup><i><b>e</b></i></sup></a> <a href="#cite_ref-:3_1-5"><sup><i><b>f</b></i></sup></a> <a href="#cite_ref-:3_1-6"><sup><i><b>g</b></i></sup></a> <a href="#cite_ref-:3_1-7"><sup><i><b>h</b></i></sup></a> <a href="#cite_ref-:3_1-8"><sup><i><b>i</b></i></sup></a> <a href="#cite_ref-:3_1-9"><sup><i><b>j</b></i></sup></a> <a href="#cite_ref-:3_1-10"><sup><i><b>k</b></i></sup></a> <a href="#cite_ref-:3_1-11"><sup><i><b>l</b></i></sup></a> <a href="#cite_ref-:3_1-12"><sup><i><b>m</b></i></sup></a> <a href="#cite_ref-:3_1-13"><sup><i><b>n</b></i></sup></a> <a href="#cite_ref-:3_1-14"><sup><i><b>o</b></i></sup></a> <a href="#cite_ref-:3_1-15"><sup><i><b>p</b></i></sup></a> <a href="#cite_ref-:3_1-16"><sup><i><b>q</b></i></sup></a> <a href="#cite_ref-:3_1-17"><sup><i><b>r</b></i></sup></a></span> <span class="reference-text"><style data-mw-deduplicate="TemplateStyles:r1238218222">.mw-parser-output cite.citation{font-style:inherit;word-wrap:break-word}.mw-parser-output .citation q{quotes:"\"""\"""'""'"}.mw-parser-output .citation:target{background-color:rgba(0,127,255,0.133)}.mw-parser-output .id-lock-free.id-lock-free a{background:url("//upload.wikimedia.org/wikipedia/commons/6/65/Lock-green.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-limited.id-lock-limited a,.mw-parser-output .id-lock-registration.id-lock-registration a{background:url("//upload.wikimedia.org/wikipedia/commons/d/d6/Lock-gray-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .id-lock-subscription.id-lock-subscription a{background:url("//upload.wikimedia.org/wikipedia/commons/a/aa/Lock-red-alt-2.svg")right 0.1em center/9px no-repeat}.mw-parser-output .cs1-ws-icon a{background:url("//upload.wikimedia.org/wikipedia/commons/4/4c/Wikisource-logo.svg")right 0.1em center/12px no-repeat}body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-free a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-limited a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-registration a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .id-lock-subscription a,body:not(.skin-timeless):not(.skin-minerva) .mw-parser-output .cs1-ws-icon a{background-size:contain;padding:0 1em 0 0}.mw-parser-output .cs1-code{color:inherit;background:inherit;border:none;padding:inherit}.mw-parser-output .cs1-hidden-error{display:none;color:var(--color-error,#d33)}.mw-parser-output .cs1-visible-error{color:var(--color-error,#d33)}.mw-parser-output .cs1-maint{display:none;color:#085;margin-left:0.3em}.mw-parser-output .cs1-kern-left{padding-left:0.2em}.mw-parser-output .cs1-kern-right{padding-right:0.2em}.mw-parser-output .citation .mw-selflink{font-weight:inherit}@media screen{.mw-parser-output .cs1-format{font-size:95%}html.skin-theme-clientpref-night .mw-parser-output .cs1-maint{color:#18911f}}@media screen and (prefers-color-scheme:dark){html.skin-theme-clientpref-os .mw-parser-output .cs1-maint{color:#18911f}}</style><cite id="CITEREFLiu2023" class="citation book cs1">Liu, Zongyuan Zoe (2023). <i>Sovereign Funds: How the Communist Party of China Finances its Global Ambitions</i>. The Belknap Press of <a href="/wiki/Harvard_University_Press" title="Harvard University Press">Harvard University Press</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9780674271913" title="Special:BookSources/9780674271913"><bdi>9780674271913</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=Sovereign+Funds%3A+How+the+Communist+Party+of+China+Finances+its+Global+Ambitions&rft.pub=The+Belknap+Press+of+Harvard+University+Press&rft.date=2023&rft.isbn=9780674271913&rft.aulast=Liu&rft.aufirst=Zongyuan+Zoe&rfr_id=info%3Asid%2Fen.wikipedia.org%3AState+Administration+of+Foreign+Exchange" class="Z3988"></span></span> </li> <li id="cite_note-emerges-2"><span class="mw-cite-backlink">^ <a href="#cite_ref-emerges_2-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-emerges_2-1"><sup><i><b>b</b></i></sup></a> <a href="#cite_ref-emerges_2-2"><sup><i><b>c</b></i></sup></a> <a href="#cite_ref-emerges_2-3"><sup><i><b>d</b></i></sup></a> <a href="#cite_ref-emerges_2-4"><sup><i><b>e</b></i></sup></a> <a href="#cite_ref-emerges_2-5"><sup><i><b>f</b></i></sup></a></span> <span class="reference-text">Jamil Anderlini, <a rel="nofollow" class="external text" href="https://www.ft.com/cms/s/0/fd0b7e6e-bb2f-11dc-9fbc-0000779fd2ac.html">China investment arm emerges from shadows</a> <a rel="nofollow" class="external text" href="https://web.archive.org/web/20160914181750/http://www.ft.com/cms/s/0/fd0b7e6e-bb2f-11dc-9fbc-0000779fd2ac.html">Archived</a> 2016-09-14 at the <a href="/wiki/Wayback_Machine" title="Wayback Machine">Wayback Machine</a>, <i><a href="/wiki/Financial_Times" title="Financial Times">Financial Times</a></i>, 5 January 2008</span> </li> <li id="cite_note-:0-3"><span class="mw-cite-backlink"><b><a href="#cite_ref-:0_3-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFLin2022" class="citation book cs1">Lin, Shuanglin (2022). <i>China's Public Finance: Reforms, Challenges, and Options</i>. New York, NY: <a href="/wiki/Cambridge_University_Press" title="Cambridge University Press">Cambridge University Press</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/978-1-009-09902-8" title="Special:BookSources/978-1-009-09902-8"><bdi>978-1-009-09902-8</bdi></a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=China%27s+Public+Finance%3A+Reforms%2C+Challenges%2C+and+Options&rft.place=New+York%2C+NY&rft.pub=Cambridge+University+Press&rft.date=2022&rft.isbn=978-1-009-09902-8&rft.aulast=Lin&rft.aufirst=Shuanglin&rfr_id=info%3Asid%2Fen.wikipedia.org%3AState+Administration+of+Foreign+Exchange" class="Z3988"></span></span> </li> <li id="cite_note-4"><span class="mw-cite-backlink"><b><a href="#cite_ref-4">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="http://www.safe.gov.cn/en/ManagementTeam/index.html">"Management Team"</a>. <i>www.safe.gov.cn</i>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=www.safe.gov.cn&rft.atitle=Management+Team&rft_id=http%3A%2F%2Fwww.safe.gov.cn%2Fen%2FManagementTeam%2Findex.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AState+Administration+of+Foreign+Exchange" class="Z3988"></span> </span> </li> <li id="cite_note-5"><span class="mw-cite-backlink"><b><a href="#cite_ref-5">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://www.bloomberg.com/profile/company/0700097D:CH">"Gingko Tree Investment Ltd - Company Profile and News"</a>. <i><a href="/wiki/Bloomberg_News" title="Bloomberg News">Bloomberg News</a></i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20210508061024/https://www.bloomberg.com/profile/company/0700097D:CH">Archived</a> from the original on 2021-05-08<span class="reference-accessdate">. Retrieved <span class="nowrap">2021-05-08</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=unknown&rft.jtitle=Bloomberg+News&rft.atitle=Gingko+Tree+Investment+Ltd+-+Company+Profile+and+News&rft_id=https%3A%2F%2Fwww.bloomberg.com%2Fprofile%2Fcompany%2F0700097D%3ACH&rfr_id=info%3Asid%2Fen.wikipedia.org%3AState+Administration+of+Foreign+Exchange" class="Z3988"></span></span> </li> <li id="cite_note-6"><span class="mw-cite-backlink"><b><a href="#cite_ref-6">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation web cs1"><a rel="nofollow" class="external text" href="https://find-and-update.company-information.service.gov.uk/company/07102351/officers">"GINGKO TREE INVESTMENT Ltd - Officers (Free information from Companies House)"</a>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20210508061024/https://find-and-update.company-information.service.gov.uk/company/07102351/officers">Archived</a> from the original on 2021-05-08<span class="reference-accessdate">. Retrieved <span class="nowrap">2021-05-08</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=unknown&rft.btitle=GINGKO+TREE+INVESTMENT+Ltd+-+Officers+%28Free+information+from+Companies+House%29&rft_id=https%3A%2F%2Ffind-and-update.company-information.service.gov.uk%2Fcompany%2F07102351%2Fofficers&rfr_id=info%3Asid%2Fen.wikipedia.org%3AState+Administration+of+Foreign+Exchange" class="Z3988"></span></span> </li> <li id="cite_note-techcrunchBTC-7"><span class="mw-cite-backlink"><b><a href="#cite_ref-techcrunchBTC_7-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFRussell2018" class="citation news cs1">Russell, John (9 January 2018). <a rel="nofollow" class="external text" href="https://techcrunch.com/2018/01/08/china-is-reportedly-moving-to-clampdown-on-bitcoin-miners/">"China is reportedly moving to clamp down on bitcoin miners"</a>. <i>TechCrunch</i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180110174448/https://techcrunch.com/2018/01/08/china-is-reportedly-moving-to-clampdown-on-bitcoin-miners/">Archived</a> from the original on 10 January 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">10 January</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=TechCrunch&rft.atitle=China+is+reportedly+moving+to+clamp+down+on+bitcoin+miners&rft.date=2018-01-09&rft.aulast=Russell&rft.aufirst=John&rft_id=https%3A%2F%2Ftechcrunch.com%2F2018%2F01%2F08%2Fchina-is-reportedly-moving-to-clampdown-on-bitcoin-miners%2F&rfr_id=info%3Asid%2Fen.wikipedia.org%3AState+Administration+of+Foreign+Exchange" class="Z3988"></span></span> </li> <li id="cite_note-ChinaDaily20180105-8"><span class="mw-cite-backlink"><b><a href="#cite_ref-ChinaDaily20180105_8-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFChen2018" class="citation news cs1">Chen, Jia (5 January 2018). <a rel="nofollow" class="external text" href="http://www.chinadaily.com.cn/a/201801/05/WS5a4eb4cba31008cf16da527c.html">"PBOC gets tougher on bitcoin"</a>. <i>China Daily</i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20180110000244/http://www.chinadaily.com.cn/a/201801/05/WS5a4eb4cba31008cf16da527c.html">Archived</a> from the original on 10 January 2018<span class="reference-accessdate">. Retrieved <span class="nowrap">10 January</span> 2018</span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=China+Daily&rft.atitle=PBOC+gets+tougher+on+bitcoin&rft.date=2018-01-05&rft.aulast=Chen&rft.aufirst=Jia&rft_id=http%3A%2F%2Fwww.chinadaily.com.cn%2Fa%2F201801%2F05%2FWS5a4eb4cba31008cf16da527c.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AState+Administration+of+Foreign+Exchange" class="Z3988"></span></span> </li> <li id="cite_note-9"><span class="mw-cite-backlink"><b><a href="#cite_ref-9">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBradsher2007" class="citation news cs1"><a href="/wiki/Keith_Bradsher" title="Keith Bradsher">Bradsher, Keith</a> (2007-03-07). <a rel="nofollow" class="external text" href="http://www.iht.com/articles/2007/03/05/business/yuan.php">"China's money woe: Where to park it all"</a>. <i>International Herald Tribune</i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20070307100612/http://www.iht.com/articles/2007/03/05/business/yuan.php">Archived</a> from the original on 2007-03-07<span class="reference-accessdate">. Retrieved <span class="nowrap">2007-03-07</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=International+Herald+Tribune&rft.atitle=China%27s+money+woe%3A+Where+to+park+it+all&rft.date=2007-03-07&rft.aulast=Bradsher&rft.aufirst=Keith&rft_id=http%3A%2F%2Fwww.iht.com%2Farticles%2F2007%2F03%2F05%2Fbusiness%2Fyuan.php&rfr_id=info%3Asid%2Fen.wikipedia.org%3AState+Administration+of+Foreign+Exchange" class="Z3988"></span></span> </li> <li id="cite_note-10"><span class="mw-cite-backlink"><b><a href="#cite_ref-10">^</a></b></span> <span class="reference-text">Denny Thomas & Jason Subler, <a href="/wiki/Reuters" title="Reuters">Reuters</a>, <a rel="nofollow" class="external text" href="https://www.theguardian.com/feedarticle?id=7197691">China forex arm buys stakes in Australian banks</a>, 4 January 2008</span> </li> <li id="cite_note-11"><span class="mw-cite-backlink"><b><a href="#cite_ref-11">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://archive.today/20120911174154/http://www.telegraph.co.uk/finance/newsbysector/energy/2788212/Chinese-fund-builds-up-andpound1bn-stake-in-BP.html">"Chinese fund builds up £1bn stake in BP"</a>. <i>Telegraph</i>. London, England. 2008-04-18. Archived from <a rel="nofollow" class="external text" href="https://www.telegraph.co.uk/finance/newsbysector/energy/2788212/Chinese-fund-builds-up-andpound1bn-stake-in-BP.html">the original</a> on 2012-09-11<span class="reference-accessdate">. Retrieved <span class="nowrap">2009-03-25</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Telegraph&rft.atitle=Chinese+fund+builds+up+%C2%A31bn+stake+in+BP&rft.date=2008-04-18&rft_id=https%3A%2F%2Fwww.telegraph.co.uk%2Ffinance%2Fnewsbysector%2Fenergy%2F2788212%2FChinese-fund-builds-up-andpound1bn-stake-in-BP.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AState+Administration+of+Foreign+Exchange" class="Z3988"></span></span> </li> <li id="cite_note-12"><span class="mw-cite-backlink"><b><a href="#cite_ref-12">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFMcGregorHollingerSender2008" class="citation news cs1">McGregor, Richard; Hollinger, Peggy; Sender, Henry (2008-04-03). <a rel="nofollow" class="external text" href="https://www.ft.com/cms/s/0/8a6a78a2-0179-11dd-a323-000077b07658.html">"China buys 1.6 per cent stake in Total"</a>. <i>Financial Times</i>. Beijing, China. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20080604065231/http://www.ft.com/cms/s/0/8a6a78a2-0179-11dd-a323-000077b07658.html">Archived</a> from the original on 2008-06-04<span class="reference-accessdate">. Retrieved <span class="nowrap">2009-03-25</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Financial+Times&rft.atitle=China+buys+1.6+per+cent+stake+in+Total&rft.date=2008-04-03&rft.aulast=McGregor&rft.aufirst=Richard&rft.au=Hollinger%2C+Peggy&rft.au=Sender%2C+Henry&rft_id=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F8a6a78a2-0179-11dd-a323-000077b07658.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AState+Administration+of+Foreign+Exchange" class="Z3988"></span></span> </li> <li id="cite_note-:Chen2-13"><span class="mw-cite-backlink">^ <a href="#cite_ref-:Chen2_13-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-:Chen2_13-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFChen2024" class="citation book cs1">Chen, Muyang (2024). <i>The Latecomer's Rise: Policy Banks and the Globalization of China's Development Finance</i>. Ithaca and London: <a href="/wiki/Cornell_University_Press" title="Cornell University Press">Cornell University Press</a>. <a href="/wiki/ISBN_(identifier)" class="mw-redirect" title="ISBN (identifier)">ISBN</a> <a href="/wiki/Special:BookSources/9781501775857" title="Special:BookSources/9781501775857"><bdi>9781501775857</bdi></a>. <a href="/wiki/JSTOR_(identifier)" class="mw-redirect" title="JSTOR (identifier)">JSTOR</a> <a rel="nofollow" class="external text" href="https://www.jstor.org/stable/10.7591/jj.6230186">10.7591/jj.6230186</a>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Abook&rft.genre=book&rft.btitle=The+Latecomer%27s+Rise%3A+Policy+Banks+and+the+Globalization+of+China%27s+Development+Finance&rft.place=Ithaca+and+London&rft.pub=Cornell+University+Press&rft.date=2024&rft_id=https%3A%2F%2Fwww.jstor.org%2Fstable%2F10.7591%2Fjj.6230186%23id-name%3DJSTOR&rft.isbn=9781501775857&rft.aulast=Chen&rft.aufirst=Muyang&rfr_id=info%3Asid%2Fen.wikipedia.org%3AState+Administration+of+Foreign+Exchange" class="Z3988"></span></span> </li> <li id="cite_note-milestone-14"><span class="mw-cite-backlink"><b><a href="#cite_ref-milestone_14-0">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFBrowne2006" class="citation news cs1">Browne, Andrew (2006-10-17). <a rel="nofollow" class="external text" href="https://www.wsj.com/articles/SB116104977336494710">"China's Reserves Near Milestone, Underscoring Its Financial Clout"</a>. <i><a href="/wiki/Wall_Street_Journal" class="mw-redirect" title="Wall Street Journal">Wall Street Journal</a></i>. p. A1. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20160123085443/http://www.wsj.com/articles/SB116104977336494710">Archived</a> from the original on 2016-01-23<span class="reference-accessdate">. Retrieved <span class="nowrap">2007-03-07</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Wall+Street+Journal&rft.atitle=China%27s+Reserves+Near+Milestone%2C+Underscoring+Its+Financial+Clout&rft.pages=A1&rft.date=2006-10-17&rft.aulast=Browne&rft.aufirst=Andrew&rft_id=https%3A%2F%2Fwww.wsj.com%2Farticles%2FSB116104977336494710&rfr_id=info%3Asid%2Fen.wikipedia.org%3AState+Administration+of+Foreign+Exchange" class="Z3988"></span></span> </li> <li id="cite_note-ft-billions-lost-15"><span class="mw-cite-backlink">^ <a href="#cite_ref-ft-billions-lost_15-0"><sup><i><b>a</b></i></sup></a> <a href="#cite_ref-ft-billions-lost_15-1"><sup><i><b>b</b></i></sup></a></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite id="CITEREFAnderlini2009" class="citation news cs1">Anderlini, Jamil (2009-03-15). <a rel="nofollow" class="external text" href="https://www.ft.com/cms/s/0/11fa4136-119f-11de-87b1-0000779fd2ac.html?nclick_check=1">"China lost billions in diversification drive"</a>. <i><a href="/wiki/Financial_Times" title="Financial Times">Financial Times</a></i>. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20100217035253/http://www.ft.com/cms/s/0/11fa4136-119f-11de-87b1-0000779fd2ac.html?nclick_check=1">Archived</a> from the original on 2010-02-17<span class="reference-accessdate">. Retrieved <span class="nowrap">2009-03-23</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Financial+Times&rft.atitle=China+lost+billions+in+diversification+drive&rft.date=2009-03-15&rft.aulast=Anderlini&rft.aufirst=Jamil&rft_id=http%3A%2F%2Fwww.ft.com%2Fcms%2Fs%2F0%2F11fa4136-119f-11de-87b1-0000779fd2ac.html%3Fnclick_check%3D1&rfr_id=info%3Asid%2Fen.wikipedia.org%3AState+Administration+of+Foreign+Exchange" class="Z3988"></span></span> </li> <li id="cite_note-16"><span class="mw-cite-backlink"><b><a href="#cite_ref-16">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="http://www.businessday.com.au/breaking-news-business/china-faces-us80b-foreign-equity-losses-20090316-8zmx.html">"China faces $US80b foreign equity losses"</a>. Business Day (Fairfax Digital). 16 March 2009. <a rel="nofollow" class="external text" href="https://web.archive.org/web/20110524020855/http://www.businessday.com.au/breaking-news-business/china-faces-us80b-foreign-equity-losses-20090316-8zmx.html">Archived</a> from the original on 2011-05-24<span class="reference-accessdate">. Retrieved <span class="nowrap">2009-03-24</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.atitle=China+faces+%24US80b+foreign+equity+losses&rft.date=2009-03-16&rft_id=http%3A%2F%2Fwww.businessday.com.au%2Fbreaking-news-business%2Fchina-faces-us80b-foreign-equity-losses-20090316-8zmx.html&rfr_id=info%3Asid%2Fen.wikipedia.org%3AState+Administration+of+Foreign+Exchange" class="Z3988"></span></span> </li> <li id="cite_note-17"><span class="mw-cite-backlink"><b><a href="#cite_ref-17">^</a></b></span> <span class="reference-text"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1238218222"><cite class="citation news cs1"><a rel="nofollow" class="external text" href="https://web.archive.org/web/20090327145253/http://news.xinhuanet.com/english/2009-03/23/content_11059470.htm">"Central bank: China to continue investing in U.S. Treasury bonds"</a>. <i>Xinhuanet</i>. 23 March 2009. Archived from <a rel="nofollow" class="external text" href="http://news.xinhuanet.com/english/2009-03/23/content_11059470.htm">the original</a> on 27 March 2009<span class="reference-accessdate">. Retrieved <span class="nowrap">2009-03-24</span></span>.</cite><span title="ctx_ver=Z39.88-2004&rft_val_fmt=info%3Aofi%2Ffmt%3Akev%3Amtx%3Ajournal&rft.genre=article&rft.jtitle=Xinhuanet&rft.atitle=Central+bank%3A+China+to+continue+investing+in+U.S.+Treasury+bonds&rft.date=2009-03-23&rft_id=http%3A%2F%2Fnews.xinhuanet.com%2Fenglish%2F2009-03%2F23%2Fcontent_11059470.htm&rfr_id=info%3Asid%2Fen.wikipedia.org%3AState+Administration+of+Foreign+Exchange" class="Z3988"></span></span> </li> </ol></div></div> <div class="mw-heading mw-heading2"><h2 id="External_links">External links</h2><span class="mw-editsection"><span class="mw-editsection-bracket">[</span><a href="/w/index.php?title=State_Administration_of_Foreign_Exchange&action=edit&section=13" title="Edit section: External links"><span>edit</span></a><span class="mw-editsection-bracket">]</span></span></div> <ul><li><span class="official-website"><span class="url"><a rel="nofollow" class="external text" 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<a href="/wiki/State_Council_of_the_People%27s_Republic_of_China" title="State Council of the People's Republic of China">State Council of the People's Republic of China</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="2"><div>Incumbent (<a href="/wiki/14th_National_People%27s_Congress" title="14th National People's Congress">14th</a>): <a href="/wiki/Li_Qiang" title="Li Qiang">Li Qiang</a> <a href="/wiki/Li_Qiang_Government" class="mw-redirect" title="Li Qiang Government">Cabinet</a></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/State_Council_of_the_People%27s_Republic_of_China" title="State Council of the People's Republic of China">State Council</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Li_Qiang_Government#Li's_Cabinet" class="mw-redirect" title="Li Qiang Government">Members</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th id="Executivemeeting" scope="row" class="navbox-group" style="width:1%">Executive<br />meeting</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Premier_of_China" title="Premier of China">Premier</a></li> <li><a href="/wiki/Vice_Premier_of_China" title="Vice Premier of China">Vice Premiers</a></li> <li><a href="/wiki/State_councillor" title="State councillor">State Councilors</a></li> <li><a href="/wiki/Secretary-General_of_the_State_Council" title="Secretary-General of the State Council">Secretary-General</a></li></ul> </div></td></tr><tr><td colspan="2" class="navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Constituent_departments_of_the_State_Council" title="Constituent departments of the State Council">Ministers in charge of ministries/commissions</a></li> <li><a href="/wiki/National_Audit_Office_(China)" title="National Audit Office (China)">Auditor-General</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/Constituent_departments_of_the_State_Council" title="Constituent departments of the State Council">Departments</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Ministry_of_Foreign_Affairs_(China)" title="Ministry of Foreign Affairs (China)">Foreign</a></li> <li><a href="/wiki/Ministry_of_National_Defense_(China)" title="Ministry of National Defense (China)">Defense</a></li> <li><a href="/wiki/National_Development_and_Reform_Commission" title="National Development and Reform Commission">Development</a></li> <li><a href="/wiki/Ministry_of_Education_(China)" title="Ministry of Education (China)">Education</a></li> <li><a href="/wiki/Ministry_of_Science_and_Technology_(China)" title="Ministry of Science and Technology (China)">Science</a></li> <li><a href="/wiki/Ministry_of_Industry_and_Information_Technology" title="Ministry of Industry and Information Technology">Industry and Information Tech</a></li> <li><a href="/wiki/National_Ethnic_Affairs_Commission" title="National Ethnic Affairs Commission">Ethnic</a></li> <li><a href="/wiki/Ministry_of_Public_Security_(China)" title="Ministry of Public Security (China)">Public Security</a></li> <li><a href="/wiki/Ministry_of_State_Security_(China)" title="Ministry of State Security (China)">State Security</a></li> <li><a href="/wiki/Ministry_of_Civil_Affairs" title="Ministry of Civil Affairs">Civil</a></li> <li><a href="/wiki/Ministry_of_Justice_(China)" title="Ministry of Justice (China)">Justice</a></li> <li><a href="/wiki/Ministry_of_Finance_(China)" title="Ministry of Finance (China)">Finance</a></li> <li><a href="/wiki/Ministry_of_Human_Resources_and_Social_Security" title="Ministry of Human Resources and Social Security">Human Resources and Social Security</a></li> <li><a href="/wiki/Ministry_of_Natural_Resources_(China)" title="Ministry of Natural Resources (China)">Natural Resources</a></li> <li><a href="/wiki/Ministry_of_Ecology_and_Environment" title="Ministry of Ecology and Environment">Ecology and Environment</a></li> <li><a href="/wiki/Ministry_of_Housing_and_Urban-Rural_Development" title="Ministry of Housing and Urban-Rural Development">Housing</a></li> <li><a href="/wiki/Ministry_of_Transport_(China)" title="Ministry of Transport (China)">Transport</a></li> <li><a href="/wiki/Ministry_of_Water_Resources_(China)" title="Ministry of Water Resources (China)">Water</a></li> <li><a href="/wiki/Ministry_of_Agriculture_and_Rural_Affairs" title="Ministry of Agriculture and Rural Affairs">Agriculture</a></li> <li><a href="/wiki/Ministry_of_Commerce_(China)" title="Ministry of Commerce (China)">Commerce</a></li> <li><a href="/wiki/Ministry_of_Culture_and_Tourism_(China)" title="Ministry of Culture and Tourism (China)">Culture and Tourism</a></li> <li><a href="/wiki/National_Health_Commission" title="National Health Commission">Health</a></li> <li><a href="/wiki/Ministry_of_Veterans_Affairs_(China)" title="Ministry of Veterans Affairs (China)">Veterans</a></li> <li><a href="/wiki/Ministry_of_Emergency_Management" title="Ministry of Emergency Management">Emergency</a></li> <li><a href="/wiki/People%27s_Bank_of_China" title="People's Bank of China">People's Bank</a></li> <li><a href="/wiki/National_Audit_Office_(China)" title="National Audit Office (China)">Audit Office</a></li></ul> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%">Agencies</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"></div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/General_Office_of_the_State_Council" title="General Office of the State Council">General Office</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Secretary-General_of_the_State_Council" title="Secretary-General of the State Council">Secretary-General</a></li> <li><a href="/wiki/Deputy_Secretary-General_of_the_State_Council" title="Deputy Secretary-General of the State Council">Deputy Secretaries-General</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/State_Council_of_the_People%27s_Republic_of_China#Special_Organization_directly_under_the_State_Council" title="State Council of the People's Republic of China">Special</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"><a href="/wiki/State-owned_Assets_Supervision_and_Administration_Commission_of_the_State_Council" title="State-owned Assets Supervision and Administration Commission of the State Council">State Assets</a></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/State_Council_of_the_People%27s_Republic_of_China#Organizations_directly_under_the_State_Council" title="State Council of the People's Republic of China">Affiliated</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/General_Administration_of_Customs" title="General Administration of Customs">Customs</a></li> <li><a href="/wiki/State_Taxation_Administration" title="State Taxation Administration">Taxation</a></li> <li><a href="/wiki/State_Administration_for_Market_Regulation" title="State Administration for Market Regulation">Market Regulation</a> <ul><li><span style="font-size:85%;"><a href="/wiki/State_Anti-Monopoly_Bureau" title="State Anti-Monopoly Bureau">Anti-Monopoly</a></span></li> <li><span style="font-size:85%;"><a href="/wiki/Standardization_Administration_of_China" title="Standardization Administration of China">Standardization</a></span></li> <li><span style="font-size:85%;"><a href="/w/index.php?title=Certification_and_Accreditation_Administration&action=edit&redlink=1" class="new" title="Certification and Accreditation Administration (page does not exist)">Cert. & Accred.</a></span></li></ul></li> <li><a href="/wiki/National_Financial_Regulatory_Administration" title="National Financial Regulatory Administration">Financial Regulation</a></li> <li><a href="/wiki/China_Securities_Regulatory_Commission" title="China Securities Regulatory Commission">Securities</a></li> <li><a href="/wiki/National_Radio_and_Television_Administration" title="National Radio and Television Administration">Radio and TV</a></li> <li><a href="/wiki/General_Administration_of_Sport_of_China" title="General Administration of Sport of China">Sport</a></li> <li><a href="/wiki/National_Public_Complaints_and_Proposals_Administration" title="National Public Complaints and Proposals Administration">Complaints & Proposals</a></li> <li><a href="/wiki/National_Bureau_of_Statistics_of_China" title="National Bureau of Statistics of China">Statistics</a></li> <li><a href="/wiki/China_National_Intellectual_Property_Administration" title="China National Intellectual Property Administration">Intellectual Property</a></li> <li><a href="/wiki/China_International_Development_Cooperation_Agency" title="China International Development Cooperation Agency">International Development</a></li> <li><a href="/wiki/National_Healthcare_Security_Administration" title="National Healthcare Security Administration">Healthcare Security</a></li> <li><a href="/wiki/Counsellors%27_Office" title="Counsellors' Office">Counsellors</a></li> <li><a href="/wiki/National_Government_Offices_Administration" title="National Government Offices Administration">Government Offices</a></li> <li><a href="/wiki/National_Press_and_Publication_Administration" class="mw-redirect" title="National Press and Publication Administration">Press and Publication</a><sup><a href="/wiki/Publicity_Department_of_the_Chinese_Communist_Party" title="Publicity Department of the Chinese Communist Party">(☭ Publicity Dept.)</a></sup></li> <li><a href="/wiki/National_Religious_Affairs_Administration" class="mw-redirect" title="National Religious Affairs Administration">Religious</a><sup>(<a href="/wiki/United_Front_Work_Department" title="United Front Work Department">☭ United Front Dept.</a>)</sup></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/State_Council_of_the_People%27s_Republic_of_China#Administrative_Offices_of_the_State_Council" title="State Council of the People's Republic of China">Offices</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/State_Council_Research_Office" title="State Council Research Office">Research</a></li> <li><a href="/wiki/Hong_Kong_and_Macao_Affairs_Office" class="mw-redirect" title="Hong Kong and Macao Affairs Office">Hong Kong and Macao</a><sup>(<a href="/wiki/Hong_Kong_and_Macao_Work_Office" title="Hong Kong and Macao Work Office">☭ Leading Group</a>)</sup></li> <li><a href="/wiki/Overseas_Chinese_Affairs_Office" title="Overseas Chinese Affairs Office">Overseas Chinese</a><sup>(<a href="/wiki/United_Front_Work_Department" title="United Front Work Department">☭ United Front Dept.</a>)</sup></li> <li><a href="/wiki/Taiwan_Affairs_Office" title="Taiwan Affairs Office">Taiwan</a><sup>(<a href="/wiki/Central_Leading_Group_for_Taiwan_Affairs" title="Central Leading Group for Taiwan Affairs">☭ Leading Group</a>)</sup></li> <li><a href="/wiki/Cyberspace_Administration_of_China" title="Cyberspace Administration of China">Cyberspace</a><sup>(<a href="/wiki/Central_Cyberspace_Affairs_Commission" title="Central Cyberspace Affairs Commission">☭ Cyberspace</a>)</sup></li> <li><a href="/wiki/State_Council_Information_Office" title="State Council Information Office">Information</a><sup>(<a href="/wiki/Publicity_Department_of_the_Chinese_Communist_Party" title="Publicity Department of the Chinese Communist Party">☭ Publicity</a>)</sup></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/State_Council_of_the_People%27s_Republic_of_China#Institutions_directly_under_the_State_Council" title="State Council of the People's Republic of China">Institutions</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Xinhua_News_Agency" title="Xinhua News Agency">Xinhua News Agency</a></li> <li><a href="/wiki/Development_Research_Center_of_the_State_Council" title="Development Research Center of the State Council">Development Research</a></li> <li><a href="/wiki/China_Media_Group" title="China Media Group">China Media Group</a></li> <li><a href="/wiki/China_Meteorological_Administration" title="China Meteorological Administration">Meteorology</a></li></ul> </div><table class="nowraplinks navbox-subgroup" style="border-spacing:0"><tbody><tr><th id="Academies" scope="row" class="navbox-group" style="width:1%">Academies</th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Chinese_Academy_of_Sciences" title="Chinese Academy of Sciences">Sciences</a></li> <li><a href="/wiki/Chinese_Academy_of_Engineering" title="Chinese Academy of Engineering">Engineering</a></li> <li><a href="/wiki/Chinese_Academy_of_Social_Sciences" title="Chinese Academy of Social Sciences">Social Sciences</a></li> <li><a href="/wiki/National_Academy_of_Governance" title="National Academy of Governance">Governance</a> <small>(<abbr title="also known as">a.k.a.</abbr> <a href="/wiki/Central_Party_School" title="Central Party School">☭ Central Party School</a>)</small></li></ul> </div></td></tr></tbody></table><div> </div></td></tr></tbody></table><div></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%"><a href="/wiki/State_Council_of_the_People%27s_Republic_of_China#State_Administrations_and_Bureaus_administrated_by_ministry-level_agencies" title="State Council of the People's Republic of China">Bureaus</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/National_Food_and_Strategic_Reserves_Administration" title="National Food and Strategic Reserves Administration">Food and Strategic Reserves</a></li> <li><a href="/wiki/National_Energy_Administration" class="mw-redirect" title="National Energy Administration">Energy</a></li> <li><a href="/wiki/National_Data_Administration" title="National Data Administration">Data</a></li> <li><a href="/wiki/State_Administration_of_Science,_Technology_and_Industry_for_National_Defense" title="State Administration of Science, Technology and Industry for National Defense">Defense Industry</a></li> <li><a href="/wiki/China_Tobacco" title="China Tobacco">Tobacco</a></li> <li><a href="/wiki/National_Immigration_Administration" title="National Immigration Administration">Immigration</a></li> <li><a href="/wiki/National_Forestry_and_Grassland_Administration" title="National Forestry and Grassland Administration">Forestry and Grassland</a></li> <li><a href="/wiki/National_Railway_Administration" title="National Railway Administration">Railway</a></li> <li><a href="/wiki/Civil_Aviation_Administration_of_China" title="Civil Aviation Administration of China">Civil Aviation</a></li> <li><a href="/wiki/State_Post_Bureau" title="State Post Bureau">Post</a></li> <li><a href="/wiki/National_Cultural_Heritage_Administration" title="National Cultural Heritage Administration">Cultural Heritage</a></li> <li><a href="/wiki/National_Administration_of_Traditional_Chinese_Medicine" title="National Administration of Traditional Chinese Medicine">Traditional Medicine</a></li> <li><a href="/wiki/National_Administration_of_Disease_Control_and_Prevention" title="National Administration of Disease Control and Prevention">Disease Control</a></li> <li><a href="/w/index.php?title=National_Mine_Safety_Administration&action=edit&redlink=1" class="new" title="National Mine Safety Administration (page does not exist)">Mine Safety</a></li> <li><a href="/wiki/National_Fire_and_Rescue_Administration" title="National Fire and Rescue Administration">Fire & Rescue</a></li> <li><a class="mw-selflink selflink">Foreign Exchange</a></li> <li><a href="/wiki/National_Medical_Products_Administration" title="National Medical Products Administration">Medical Products</a></li> <li><a href="/wiki/National_Administration_of_State_Secrets_Protection" title="National Administration of State Secrets Protection">State Secrets</a><sup>(<a href="/w/index.php?title=Central_Secrecy_Commission&action=edit&redlink=1" class="new" title="Central Secrecy Commission (page does not exist)">☭ Secrecy Comm.</a>)</sup></li> <li><a href="/wiki/National_Archives_Administration_of_China" title="National Archives Administration of China">National Archives <small>(<abbr title="also known as">a.k.a.</abbr> ☭ Central Archives</small>)</a></li> <li><a href="/w/index.php?title=National_Civil_Service_Administration&action=edit&redlink=1" class="new" title="National Civil Service Administration (page does not exist)">Civil Service</a><sup>(<a href="/wiki/Organization_Department_of_the_Chinese_Communist_Party" title="Organization Department of the Chinese Communist Party">☭ Org. Dept.</a>)</sup></li> <li><a href="/w/index.php?title=National_Cryptography_Administration&action=edit&redlink=1" class="new" title="National Cryptography Administration (page does not exist)">Cryptography</a><sup>(<a href="/w/index.php?title=Central_Leading_Group_for_Cryptography_Work&action=edit&redlink=1" class="new" title="Central Leading Group for Cryptography Work (page does not exist)">☭ Leading Group</a>)</sup></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><a href="/wiki/State_Council_of_the_People%27s_Republic_of_China" title="State Council of the People's Republic of China">State Council</a> = <a href="/wiki/Central_People%27s_Government_of_the_People%27s_Republic_of_China" class="mw-redirect" title="Central People's Government of the People's Republic of China">Central People's Government</a> (<a href="/wiki/Constitution_of_China" title="Constitution of China">constitutionally</a> since <a href="/wiki/1954_Constitution_of_the_People%27s_Republic_of_China" title="1954 Constitution of the People's Republic of China">1954</a>)</li> <li><a href="/wiki/%E2%98%AD" class="mw-redirect" title="☭">☭</a> denotes <a href="/wiki/One_institution_with_two_names" title="One institution with two names">name reserved by Communist Party agencies</a>.</li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox" aria-labelledby="Economy_of_China" style="padding:3px"><table class="nowraplinks hlist mw-collapsible mw-collapsed navbox-inner" style="border-spacing:0;background:transparent;color:inherit"><tbody><tr><th scope="col" class="navbox-title" colspan="2"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1239400231"><div class="navbar plainlinks hlist navbar-mini"><ul><li class="nv-view"><a href="/wiki/Template:Economy_of_China" title="Template:Economy of China"><abbr title="View this template">v</abbr></a></li><li class="nv-talk"><a href="/wiki/Template_talk:Economy_of_China" title="Template talk:Economy of China"><abbr title="Discuss this template">t</abbr></a></li><li class="nv-edit"><a href="/wiki/Special:EditPage/Template:Economy_of_China" title="Special:EditPage/Template:Economy of China"><abbr title="Edit this template">e</abbr></a></li></ul></div><div id="Economy_of_China" style="font-size:114%;margin:0 4em"><a href="/wiki/Economy_of_China" title="Economy of China">Economy of China</a></div></th></tr><tr><td class="navbox-abovebelow" colspan="2"><div><span class="noviewer" typeof="mw:File"><span title="Category"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> <a href="/wiki/Category:Companies_of_China" title="Category:Companies of China">Companies of China</a></div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background:linen;"><a href="/wiki/Category:Economic_history_of_the_People%27s_Republic_of_China" title="Category:Economic history of the People's Republic of China">History</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Economic_history_of_China_(1949%E2%80%93present)" title="Economic history of China (1949–present)">History</a></li> <li><a href="/wiki/Chinese_economic_reform" title="Chinese economic reform">Reform</a></li> <li><a href="/wiki/Five-year_plans_of_China" title="Five-year plans of China">Five-year plans</a></li> <li><a href="/wiki/Industrialization_of_China" title="Industrialization of China">Industrial Revolution</a></li> <li><a href="/wiki/Iron_rice_bowl" title="Iron rice bowl">Iron rice bowl</a></li> <li><a href="/wiki/Three-anti_and_Five-anti_Campaigns" title="Three-anti and Five-anti Campaigns">Three-anti and Five-anti Campaigns</a></li> <li><a href="/wiki/Great_Leap_Forward" title="Great Leap Forward">Great Leap Forward</a></li> <li><a href="/wiki/Four_Modernizations" title="Four Modernizations">Four Modernizations</a></li> <li><a href="/wiki/Socialist_market_economy" title="Socialist market economy">Socialist market economy</a></li> <li><a href="/wiki/Deng_Xiaoping%27s_southern_tour" title="Deng Xiaoping's southern tour">Deng Xiaoping's southern tour</a></li> <li>"<a href="/wiki/Grasping_the_large,_letting_go_of_the_small" title="Grasping the large, letting go of the small">Grasping the large, letting go of the small</a>"</li> <li><a href="/wiki/Scientific_Outlook_on_Development" title="Scientific Outlook on Development">Scientific Outlook on Development</a></li> <li><a href="/wiki/Historical_GDP_of_China" title="Historical GDP of China">Historical GDP</a></li> <li><a href="/wiki/Population_history_of_China" title="Population history of China">Population history</a></li> <li><a href="/wiki/Wage_reform_in_China,_1949%E2%80%931976" title="Wage reform in China, 1949–1976">1949–1976 wage reform</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background:linen;"><a href="/wiki/Category:Industry_in_China" title="Category:Industry in China">Industries</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Industry_of_China" title="Industry of China">Industry</a> <ul><li><a href="/wiki/Technological_and_industrial_history_of_China" title="Technological and industrial history of China">history</a></li></ul></li> <li><a href="/wiki/Advanced_materials_industry_in_China" title="Advanced materials industry in China">Advanced materials</a></li> <li><a href="/wiki/Aquaculture_in_China" title="Aquaculture in China">Aquaculture</a></li> <li><a href="/wiki/Automotive_industry_in_China" title="Automotive industry in China">Automotive</a></li> <li><a href="/wiki/Civil_aviation_in_China" title="Civil aviation in China">Aviation</a></li> <li><a href="/wiki/Aviation_Industry_Corporation_of_China" title="Aviation Industry Corporation of China">Aircraft</a></li> <li><a href="/wiki/China_Aerospace_Science_and_Technology_Corporation" title="China Aerospace Science and Technology Corporation">Aerospace</a></li> <li><a href="/wiki/Beer_in_China" title="Beer in China">Beer</a></li> <li><a href="/wiki/Biotechnology_industry_in_China" title="Biotechnology industry in China">Biotechnology</a></li> <li><a href="/wiki/Business_process_outsourcing_in_China" title="Business process outsourcing in China">Business process outsourcing</a></li> <li><a href="/wiki/Cement_industry_in_China" title="Cement industry in China">Cement</a></li> <li><a href="/wiki/Coffee_production_in_China" title="Coffee production in China">Coffee</a></li> <li><a href="/wiki/Container_industry_in_China" title="Container industry in China">Container</a></li> <li><a href="/wiki/China_Cotton_Association" title="China Cotton Association">Cotton</a></li> <li><a href="/wiki/Electric_motor_manufacturing_industry_in_China" title="Electric motor manufacturing industry in China">Electric motor</a></li> <li><a href="/wiki/Electricity_sector_in_China" title="Electricity sector in China">Electric power</a></li> <li><a href="/wiki/Electronics_industry_in_China" title="Electronics industry in China">Electronics</a></li> <li><a href="/wiki/Cinema_of_China" title="Cinema of China">Film</a></li> <li><a href="/wiki/Fishing_industry_in_China" title="Fishing industry in China">Fishing</a></li> <li><a href="/wiki/Gambling_in_China" title="Gambling in China">Gambling</a></li> <li><a href="/wiki/Hedge_fund_industry_in_China" title="Hedge fund industry in China">Hedge fund</a></li> <li><a href="/wiki/Internet_in_China" title="Internet in China">Internet</a></li> <li><a href="/wiki/Mass_media_in_China" title="Mass media in China">Media</a></li> <li><span class="noviewer" typeof="mw:File"><span title="Category"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> <a href="/wiki/Category:Mining_in_China" title="Category:Mining in China">Mining</a> <ul><li><a href="/wiki/Gold_mining_in_China" title="Gold mining in China">gold mining</a></li></ul></li> <li><a href="/wiki/Mobile_phone_industry_in_China" title="Mobile phone industry in China">Mobile phone</a></li> <li><a href="/wiki/Online_gaming_in_China" class="mw-redirect" title="Online gaming in China">Online gaming</a></li> <li><a href="/wiki/Pearl_farming_industry_in_China" title="Pearl farming industry in China">Pearl farming</a></li> <li><a href="/wiki/Pharmaceutical_industry_in_China" title="Pharmaceutical industry in China">Pharmaceuticals</a> and <a href="/wiki/Pharmacy_in_China" title="Pharmacy in China">pharmacy</a></li> <li><a href="/wiki/Publishing_industry_in_China" title="Publishing industry in China">Publishing</a> and <a href="/wiki/Academic_publishing_in_China" title="Academic publishing in China">academic publishing</a></li> <li><a href="/wiki/Radio_in_China" title="Radio in China">Radio</a></li> <li>Railway <ul><li><a href="/wiki/Railway_equipment_industry_in_China" title="Railway equipment industry in China">equipment industry</a></li></ul></li> <li><a href="/wiki/Rare_earth_industry_in_China" title="Rare earth industry in China">Rare earth</a></li> <li><a href="/wiki/Real_estate_in_China" title="Real estate in China">Real estate</a></li> <li><a href="/wiki/Renewable_energy_in_China" title="Renewable energy in China">Renewable energy</a></li> <li><a href="/wiki/Securities_industry_in_China" title="Securities industry in China">Securities</a></li> <li><a href="/wiki/Sex_toy_industry_in_China" title="Sex toy industry in China">Sex toys</a></li> <li><a href="/wiki/Shipping_industry_of_China" title="Shipping industry of China">Shipping</a></li> <li><a href="/wiki/Silk_industry_in_China" title="Silk industry in China">Silk</a></li> <li><a href="/wiki/Software_industry_in_China" title="Software industry in China">Software</a></li> <li><a href="/wiki/Steel_industry_in_China" title="Steel industry in China">Steel</a></li> <li><a href="/wiki/Telecommunications_industry_in_China" title="Telecommunications industry in China">Telecommunications</a></li> <li><a href="/wiki/Television_in_China" title="Television in China">Television</a> <ul><li><a href="/wiki/Television_in_China" title="Television in China">digital</a></li></ul></li> <li><a href="/wiki/Tourism_in_China" title="Tourism in China">Tourism</a></li> <li><a href="/wiki/Textile_industry_in_China" title="Textile industry in China">Textiles</a></li> <li><a href="/wiki/Video_gaming_in_China" class="mw-redirect" title="Video gaming in China">Video gaming</a></li> <li><a href="/wiki/Wine_in_China" title="Wine in China">Wine</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background:linen;"><a href="/wiki/National_Economic_and_Technological_Development_Zones" title="National Economic and Technological Development Zones">Development Zones</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Dalian_Software_Park" title="Dalian Software Park">Dalian Software Park</a></li> <li><a href="/wiki/Megalopolises_in_China" title="Megalopolises in China">Megalopolises in China </a></li> <li><a href="/wiki/Special_economic_zones_of_China" title="Special economic zones of China">Special Economic Zones</a></li> <li><a href="/wiki/Suzhou_Industrial_Park" title="Suzhou Industrial Park">Suzhou Industrial Park</a></li> <li><a href="/wiki/Zhangjiang_Hi-Tech_Park" title="Zhangjiang Hi-Tech Park">Zhangjiang Hi-Tech Park</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background:linen;"><a href="/wiki/Category:Energy_in_China" title="Category:Energy in China">Energy</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Energy_policy_of_China" title="Energy policy of China">Energy policy</a></li> <li><a href="/wiki/Coal_in_China" title="Coal in China">Coal</a></li> <li><a href="/wiki/Petroleum_industry_in_China" title="Petroleum industry in China">Oil</a> <ul><li><a href="/wiki/Oil_shale_in_China" title="Oil shale in China">Oil shale</a></li> <li><a href="/wiki/Oil_refineries_in_China" class="mw-redirect" title="Oil refineries in China">Oil refineries</a></li></ul></li> <li><a href="/wiki/Nuclear_power_in_China" title="Nuclear power in China">Nuclear</a></li> <li><a href="/wiki/Renewable_energy_in_China" title="Renewable energy in China">Renewable</a> <ul><li><a href="/wiki/Wind_power_in_China" title="Wind power in China">Wind</a></li> <li><a href="/wiki/Solar_power_in_China" title="Solar power in China">Solar</a></li> <li><a href="/wiki/Geothermal_power_in_China" title="Geothermal power in China">Geothermal</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background:linen;"><a href="/wiki/Category:Trade_in_China" title="Category:Trade in China">Trade</a> and <a href="/wiki/Category:Infrastructure_in_China" title="Category:Infrastructure in China">infrastructure</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/History_of_trade_for_the_People%27s_Republic_of_China" class="mw-redirect" title="History of trade for the People's Republic of China">Trade history</a></li> <li><a href="/wiki/The_China_World_Trade_Center" class="mw-redirect" title="The China World Trade Center">World Trade Center</a></li> <li><a href="/wiki/Transport_in_China" title="Transport in China">Transport</a></li> <li><a href="/wiki/Telecommunications_in_China" title="Telecommunications in China">Communications</a></li> <li><a href="/wiki/Postage_stamps_and_postal_history_of_China" title="Postage stamps and postal history of China">Postal history</a></li> <li><a href="/wiki/Tourism_in_China" title="Tourism in China">Tourism</a></li> <li><a href="/wiki/Chinese_shipping" class="mw-redirect" title="Chinese shipping">Shipping</a></li> <li><a href="/wiki/Illegal_drug_trade_in_China" title="Illegal drug trade in China">Illegal drug trade</a></li> <li><a href="/wiki/Hong_Kong_Trade_Development_Council" title="Hong Kong Trade Development Council">Hong Kong Trade Development Council</a></li> <li><a href="/wiki/Ports_of_China" class="mw-redirect" title="Ports of China">Ports</a></li> <li><a href="/wiki/Water_supply_and_sanitation_in_China" title="Water supply and sanitation in China">Water supply and sanitation</a></li> <li><a href="/wiki/List_of_exports_of_China" title="List of exports of China">Exports</a></li> <li><a href="/wiki/List_of_the_largest_trading_partners_of_China" title="List of the largest trading partners of China">Trading partners</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background:linen;">Law and regulations</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Taxation_in_China" title="Taxation in China">Tax system</a></li> <li><a href="/wiki/Labour_Contract_Law_of_the_People%27s_Republic_of_China" title="Labour Contract Law of the People's Republic of China">Labor contract law</a></li> <li><a href="/wiki/Labor_relations_in_China" title="Labor relations in China">Labor relations</a></li> <li><a href="/wiki/Food_safety_in_China" title="Food safety in China">Food safety</a></li> <li><a href="/wiki/Intellectual_property_in_China" title="Intellectual property in China">Intellectual property</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background:linen;"><a href="/wiki/Category:Finance_in_China" title="Category:Finance in China">Finance</a> and <a href="/wiki/Category:Banking_in_China" title="Category:Banking in China">banking</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><span class="noviewer" typeof="mw:File"><span title="Category"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> <a href="/wiki/Category:Accounting_in_China" title="Category:Accounting in China">Accounting</a></li> <li><a href="/wiki/Banking_in_China" title="Banking in China">Banking</a> <ul><li><a href="/wiki/History_of_banking_in_China" title="History of banking in China">History</a></li> <li><a href="/wiki/People%27s_Bank_of_China" title="People's Bank of China">Central bank</a></li> <li><a href="/wiki/List_of_banks_in_China" title="List of banks in China">Other banks</a></li></ul></li> <li><a href="/wiki/Beijing_Financial_Street" title="Beijing Financial Street">Beijing Financial Street</a></li> <li><a href="/wiki/Chinese_financial_system" class="mw-redirect" title="Chinese financial system">Financial system</a></li> <li><a href="/wiki/China_Banknote_Printing_and_Minting_Corporation" title="China Banknote Printing and Minting Corporation">China Banknote Printing and Minting Corporation</a></li> <li><a href="/wiki/China_Chengtong_Holdings_Group" title="China Chengtong Holdings Group">China Chengtong Holdings Group</a></li> <li><a href="/wiki/China_Government_Guidance_Fund" title="China Government Guidance Fund">China Government Guidance Fund</a> <ul><li><a href="/wiki/China-Africa_Development_Fund" title="China-Africa Development Fund">China-Africa Development Fund</a></li> <li><a href="/wiki/China_Integrated_Circuit_Industry_Investment_Fund" title="China Integrated Circuit Industry Investment Fund">China Integrated Circuit Industry Investment Fund</a></li> <li><a href="/wiki/China_Internet_Investment_Fund" title="China Internet Investment Fund">China Internet Investment Fund</a></li> <li><a href="/wiki/China_Reform_Holdings_Corporation" title="China Reform Holdings Corporation">China Reform Holdings Corporation</a></li> <li><a href="/wiki/National_Fund_for_Technology_Transfer_and_Commercialisation" title="National Fund for Technology Transfer and Commercialisation">National Fund for Technology Transfer and Commercialisation</a></li></ul></li> <li><a href="/wiki/China_Investment_Corporation" title="China Investment Corporation">China Investment Corporation</a></li> <li><a href="/wiki/CITIC_Group" title="CITIC Group">CITIC Group</a></li> <li><a href="/wiki/Financial_services_in_China" title="Financial services in China">Financial services</a></li> <li><a href="/wiki/Renminbi" title="Renminbi">Renminbi</a></li> <li><a href="/wiki/Foreign_exchange_reserves_of_China" class="mw-redirect" title="Foreign exchange reserves of China">Foreign exchange reserve</a></li> <li><a href="/wiki/Hedge_fund_industry_in_China" title="Hedge fund industry in China">Hedge fund industry</a></li> <li>Stock Exchanges <ul><li><a href="/wiki/Dalian_Commodity_Exchange" title="Dalian Commodity Exchange">Dalian Commodity Exchange</a></li> <li><a href="/wiki/National_Equities_Exchange_and_Quotations" title="National Equities Exchange and Quotations">National Equities Exchange and Quotations</a> <ul><li><a href="/wiki/Beijing_Stock_Exchange" title="Beijing Stock Exchange">Beijing Stock Exchange</a></li></ul></li> <li><a href="/wiki/Shanghai_Stock_Exchange" title="Shanghai Stock Exchange">Shanghai Stock Exchange</a> <ul><li><a href="/wiki/SSE_Composite_Index" title="SSE Composite Index">SSE Composite Index</a></li></ul></li> <li><a href="/wiki/Shanghai_Metal_Exchange" class="mw-redirect" title="Shanghai Metal Exchange">Shanghai Metal Exchange</a></li> <li><a href="/wiki/Stock_Exchange_Executive_Council" title="Stock Exchange Executive Council">Stock Exchange Executive Council</a></li> <li><a href="/wiki/Shenzhen_Stock_Exchange" title="Shenzhen Stock Exchange">Shenzhen Stock Exchange</a> <ul><li><a href="/wiki/SZSE_Component_Index" title="SZSE Component Index">SZSE Component Index</a></li></ul></li> <li><a href="/wiki/Zhengzhou_Commodity_Exchange" title="Zhengzhou Commodity Exchange">Zhengzhou Commodity Exchange</a></li></ul></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background:linen;"><a href="/wiki/Category:Economy_of_China" title="Category:Economy of China">Government institutions</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/All-China_Federation_of_Industry_and_Commerce" title="All-China Federation of Industry and Commerce">All-China Federation of Industry and Commerce</a></li> <li><a href="/wiki/All-China_Federation_of_Trade_Unions" title="All-China Federation of Trade Unions">All-China Federation of Trade Unions</a></li> <li><a href="/wiki/China_Council_for_the_Promotion_of_International_Trade" title="China Council for the Promotion of International Trade">China Council for the Promotion of International Trade</a></li> <li><a href="/wiki/China_Securities_Regulatory_Commission" title="China Securities Regulatory Commission">China Securities Regulatory Commission</a></li> <li><a href="/wiki/General_Administration_of_Customs" title="General Administration of Customs">General Administration of Customs</a></li> <li><a href="/wiki/Ministry_of_Commerce_of_the_People%27s_Republic_of_China" class="mw-redirect" title="Ministry of Commerce of the People's Republic of China">Ministry of Commerce</a></li> <li><a href="/wiki/Ministry_of_Finance_of_the_People%27s_Republic_of_China" class="mw-redirect" title="Ministry of Finance of the People's Republic of China">Ministry of Finance</a></li> <li><a href="/wiki/Ministry_of_Industry_and_Information_Technology" title="Ministry of Industry and Information Technology">Ministry of Industry and Information Technology</a></li> <li><a href="/wiki/National_Financial_Regulatory_Administration_(China)" class="mw-redirect" title="National Financial Regulatory Administration (China)">National Financial Regulatory Administration</a></li> <li><a href="/wiki/National_Bureau_of_Statistics_of_China" title="National Bureau of Statistics of China">National Bureau of Statistics of China</a></li> <li><a href="/wiki/National_Development_and_Reform_Commission" title="National Development and Reform Commission">National Development and Reform Commission</a></li> <li><a href="/wiki/National_Energy_Commission" title="National Energy Commission">National Energy Commission</a></li> <li><a href="/wiki/State-owned_Assets_Supervision_and_Administration_Commission" class="mw-redirect" title="State-owned Assets Supervision and Administration Commission">State-owned Assets Supervision and Administration Commission</a></li> <li><a href="/wiki/State_Administration_for_Market_Regulation" title="State Administration for Market Regulation">State Administration for Market Regulation</a></li> <li><a class="mw-selflink selflink">State Administration of Foreign Exchange</a></li> <li><a href="/wiki/State_Administration_of_Taxation" class="mw-redirect" title="State Administration of Taxation">State Administration of Taxation</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background:linen;"><a href="/wiki/Category:Economic_development_in_China" title="Category:Economic development in China">Development</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/International_rankings_of_China" title="International rankings of China">International rankings</a></li> <li><a href="/wiki/Social_welfare_in_China" class="mw-redirect" title="Social welfare in China">Social welfare</a></li> <li><a href="/wiki/Poverty_in_China" title="Poverty in China">Poverty</a></li> <li><a href="/wiki/Corruption_in_China" title="Corruption in China">Corruption</a></li> <li><a href="/wiki/Income_inequality_in_China" title="Income inequality in China">Income inequality</a></li> <li><a href="/wiki/Standard_of_living_in_China" title="Standard of living in China">Standard of living</a></li> <li><a href="/wiki/Foreign_aid_to_China" title="Foreign aid to China">Foreign aid</a></li> <li><a href="/wiki/Urbanization_in_China" title="Urbanization in China">Urbanization</a></li> <li><a href="/wiki/Migration_in_China" title="Migration in China">Internal migration</a></li> <li><a href="/wiki/Chinese_emigration" title="Chinese emigration">Emigration</a></li> <li><a href="/wiki/Rural_credit_cooperative" title="Rural credit cooperative">Rural credit cooperative</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background:linen;">National economic initiatives</th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Beijing_Consensus" title="Beijing Consensus">Beijing Consensus</a></li> <li><a href="/wiki/Belt_and_Road_Initiative" title="Belt and Road Initiative">Belt and Road Initiative</a></li> <li><a href="/wiki/Common_prosperity" title="Common prosperity">Common prosperity</a></li> <li><a href="/wiki/Dual_circulation" title="Dual circulation">Dual circulation</a></li> <li><a href="/wiki/Go_Out_policy" title="Go Out policy">Go Out policy</a></li> <li><a href="/wiki/Made_in_China_2025" title="Made in China 2025">Made in China 2025</a></li> <li><a href="/wiki/Youth_Business_China" title="Youth Business China">Youth Business China</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background:linen;"><a href="/wiki/List_of_regions_of_China" title="List of regions of China">Regional economic initiatives</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Asian_Infrastructure_Investment_Bank" title="Asian Infrastructure Investment Bank">Asian Infrastructure Investment Bank</a></li> <li><a href="/wiki/Beibu_Gulf_Economic_Rim" title="Beibu Gulf Economic Rim">Beibu Gulf Economic Rim</a></li> <li><a href="/wiki/Bohai_Economic_Rim" title="Bohai Economic Rim">Bohai Economic Rim</a></li> <li><a href="/wiki/China_Western_Development" title="China Western Development">China Western Development</a></li> <li><a href="/wiki/Guangdong%E2%80%93Hong_Kong%E2%80%93Macau_Greater_Bay_Area" class="mw-redirect" title="Guangdong–Hong Kong–Macau Greater Bay Area">Guangdong–Hong Kong–Macau Greater Bay Area</a></li> <li><a href="/wiki/Mainland_and_Hong_Kong_Closer_Economic_Partnership_Arrangement" title="Mainland and Hong Kong Closer Economic Partnership Arrangement">Mainland and Hong Kong Closer Economic Partnership Arrangement</a></li> <li><a href="/wiki/Mainland_and_Macau_Closer_Economic_Partnership_Arrangement" title="Mainland and Macau Closer Economic Partnership Arrangement">Mainland and Macau Closer Economic Partnership Arrangement</a></li> <li><a href="/wiki/Northeast_China_Revitalization" class="mw-redirect" title="Northeast China Revitalization">Northeast China Revitalization</a></li> <li><a href="/wiki/Pearl_River_Delta_Economic_Zone" title="Pearl River Delta Economic Zone">Pearl River Delta Economic Zone</a></li> <li><a href="/wiki/Regional_Comprehensive_Economic_Partnership" title="Regional Comprehensive Economic Partnership">Regional Comprehensive Economic Partnership</a></li> <li><a href="/wiki/Rise_of_Central_China_Plan" title="Rise of Central China Plan">Rise of Central China Plan</a></li> <li><a href="/wiki/Western_Taiwan_Straits_Economic_Zone" title="Western Taiwan Straits Economic Zone">Western Taiwan Straits Economic Zone</a></li> <li><a href="/wiki/Yangtze_River_Delta_Economic_Zone" class="mw-redirect" title="Yangtze River Delta Economic Zone">Yangtze River Delta Economic Zone</a></li> <li><a href="/wiki/Zhongyuan_Economic_Zone" title="Zhongyuan Economic Zone">Zhongyuan Economic Zone</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background:linen;"><a href="/wiki/Category:Economic_history_of_the_People%27s_Republic_of_China" title="Category:Economic history of the People's Republic of China">Events</a></th><td class="navbox-list-with-group navbox-list navbox-even" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Chinese_property_bubble_(2005%E2%80%932011)" title="Chinese property bubble (2005–2011)">2005–2011 property bubble</a></li> <li><a href="/wiki/2007_Chinese_export_recalls" title="2007 Chinese export recalls">2007 export</a> / <a href="/wiki/2007_pet_food_recalls" title="2007 pet food recalls">pet food recalls</a></li> <li><a href="/wiki/Chinese_stock_bubble_of_2007" title="Chinese stock bubble of 2007">2007 stock bubble</a></li> <li><a href="/wiki/2007_Chinese_slave_scandal" title="2007 Chinese slave scandal">2007 slave scandal</a></li> <li><a href="/wiki/Chinese_economic_stimulus_program" title="Chinese economic stimulus program">2008–2009 economic stimulus plan</a></li> <li><a href="/wiki/Expo_2010" title="Expo 2010">2010 Expo</a></li> <li><a href="/wiki/2015%E2%80%9316_Chinese_stock_market_turbulence" class="mw-redirect" title="2015–16 Chinese stock market turbulence">2015–16 stock market turbulence</a></li> <li><a href="/wiki/Chinese_protein_export_contamination" class="mw-redirect" title="Chinese protein export contamination">Protein export contamination</a></li> <li><a href="/wiki/China%E2%80%93United_States_trade_war" title="China–United States trade war">China–United States trade war</a></li> <li><a href="/wiki/2020%E2%80%932021_Xi_Jinping_Administration_reform_spree" title="2020–2021 Xi Jinping Administration reform spree">2020–2021 reform spree</a></li></ul> </div></td></tr><tr><th scope="row" class="navbox-group" style="width:1%;background:linen;"><a href="/wiki/Category:China" title="Category:China">Related topics</a></th><td class="navbox-list-with-group navbox-list navbox-odd" style="width:100%;padding:0"><div style="padding:0 0.25em"> <ul><li><a href="/wiki/Agriculture_in_China" title="Agriculture in China">Agriculture</a></li> <li><a href="/wiki/Bankruptcy_in_China" title="Bankruptcy in China">Bankruptcy</a></li> <li><a href="/wiki/List_of_companies_of_China" title="List of companies of China">Companies</a> <ul><li><a href="/wiki/List_of_largest_Chinese_companies" title="List of largest Chinese companies">Largest</a></li> <li><a href="/wiki/Top_500_Enterprises_of_China" title="Top 500 Enterprises of China">Top 500</a></li> <li><a href="/wiki/List_of_State-owned_enterprises_in_China" class="mw-redirect" title="List of State-owned enterprises in China">Largest SOEs</a></li></ul></li> <li><i><a href="/wiki/The_Hongs" class="mw-redirect" title="The Hongs">The Hongs</a></i></li> <li><a href="/wiki/Demographics_of_China" title="Demographics of China">Demographics</a></li> <li><a href="/wiki/Globalization_in_China" title="Globalization in China">Globalization</a> <ul><li><a href="/wiki/Globalization_and_women_in_China" title="Globalization and women in China">Globalization and women</a></li></ul></li> <li><a href="/wiki/National_Standards_of_the_People%27s_Republic_of_China" title="National Standards of the People's Republic of China">National Standards</a></li> <li><a href="/wiki/China_Compulsory_Certificate" title="China Compulsory Certificate">China Compulsory Certificate</a></li> <li><i><a href="/wiki/Made_in_China" title="Made in China">Made in China</a></i></li> <li><a href="/wiki/Mingong" title="Mingong">Mingong</a></li> <li><a href="/wiki/List_of_Chinese_by_net_worth" title="List of Chinese by net worth">List of Chinese by net worth</a></li> <li><a href="/wiki/Category:Chinese_economists" title="Category:Chinese economists">Chinese economists</a></li> <li><a href="/wiki/Science_and_technology_in_China" title="Science and technology in China">Science and technology</a></li></ul> </div></td></tr><tr><td class="navbox-abovebelow" colspan="2"><div> <ul><li><i><b>See also:</b></i> <span class="noviewer" typeof="mw:File"><span title="Category"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/16px-Symbol_category_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/23px-Symbol_category_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/9/96/Symbol_category_class.svg/31px-Symbol_category_class.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> <a href="/wiki/Category:Economy_of_China" title="Category:Economy of China">Category</a></li> <li><span class="noviewer" typeof="mw:File"><span title="List-Class article"><img alt="" src="//upload.wikimedia.org/wikipedia/en/thumb/d/db/Symbol_list_class.svg/16px-Symbol_list_class.svg.png" decoding="async" width="16" height="16" class="mw-file-element" srcset="//upload.wikimedia.org/wikipedia/en/thumb/d/db/Symbol_list_class.svg/23px-Symbol_list_class.svg.png 1.5x, //upload.wikimedia.org/wikipedia/en/thumb/d/db/Symbol_list_class.svg/31px-Symbol_list_class.svg.png 2x" data-file-width="180" data-file-height="185" /></span></span> <a href="/wiki/Outline_of_China" title="Outline of China">Outline of China</a></li> <li><a href="/wiki/Economy_of_East_Asia" title="Economy of East Asia">Economy of East Asia</a></li></ul> </div></td></tr></tbody></table></div> <div class="navbox-styles"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1129693374"><link rel="mw-deduplicated-inline-style" href="mw-data:TemplateStyles:r1236075235"></div><div role="navigation" class="navbox authority-control" aria-labelledby="Authority_control_databases_frameless&#124;text-top&#124;10px&#124;alt=Edit_this_at_Wikidata&#124;link=https&#58;//www.wikidata.org/wiki/Q1512824#identifiers&#124;class=noprint&#124;Edit_this_at_Wikidata" style="padding:3px"><table class="nowraplinks hlist navbox-inner" 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