China 's central bank announced that , Chinese companies would now exchange currency for foreign currencies only for purely business purposes like paying for loans or approved foreign investments . According to Chinese banking executives , some of China 's largest lenders including Bank of China and China Citic Bank are also strengthen their internal checks on large foreign exchange conversions by corporate clients . The moves are intended to make it more expensive for investors to pressure the yuan to weaken against the US dollar , which could prompt greater capital flight and complicate government efforts to boost exports and bolster exports .
China's central bank announced that, Chinese companies can now exchange yuan for foreign currencies only for approved business purposes like paying for imports or approved foreign investments. According to Chinese banking executives, some of China's largest lenders including Bank of China and China Citic Bank are also strengthen their internal checks on large foreign exchange conversions by corporate clients. The moves are intended to make it more expensive for investors to pressure the yuan to weaken against the US dollar, which could prompt greater capital flight and complicate government efforts to boost spending and bolster growth.