BEIJING Dec 14 China's foreign exchange
regulator said it will continue to crack down on underground
banks in order to safeguard financial and economic security,
according to a statement posted on its website on Wednesday.
Following a meeting with the Ministry of Public Security,
the third this year, the State Administration of Foreign
Exchange (SAFE) said the two bodies will maintain intense
pressure to clamp down on illegal banks and keep foreign
exchange management orderly.
The two have worked closely together this year to disrupt
illegal foreign exchange activities of underground banks, the
(Reporting by Beijing Newsroom; Editing by Shri Navaratnam)