What is the relationship between foreign exchange control and RMB convertibility? - Loan Platform Complete Network

What is the relationship between foreign exchange control and RMB convertibility?

Foreign exchange management shall be formulated by the State Administration of Foreign Exchange.

The relaxation of foreign exchange control makes RMB freely convertible with foreign currency.

Foreign exchange control restricts the free convertibility of RMB.

At the same time, if the free convertibility of RMB reaches a certain degree,

Safe will manage it through foreign exchange control.

Understand?

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