China’s FX Regulator to Push Bank FX Business Reform in 2026-2030

The signal here is less about any single measure than about direction: SAFE is framing FX reform around differentiated treatment, where compliance and credit history become the currency for faster, easier processing. That shifts the practical burden onto banks, which must build the systems to sort customers by risk and creditworthiness, and onto corporates, whose FX experience will increasingly depend on their own track record. Whether this stays a stated priority or translates into concrete operational changes across bank channels is the open question to watch.