BEIJING (Reuters) – China’s overseas trade regulator stated on Monday that there isn’t a change in China’s coverage on cross-border remittance of funds, and it’ll proceed to advertise a high-level opening-up to the world.

The State Administration of International Change (SAFE) made the feedback in response to Reuters questions concerning billionaire investor Mark Mobius’ claims that he can’t take his cash out of China as a consequence of its capital controls.

“Particular person remittance of funds is a financial institution’s primary course of and inner management necessities,” the regulator stated, including that it’s going to information and urge business banks to optimise cross-border monetary providers and enhance service ranges.

Mobius’ feedback have been circulated on Chinese language social media websites over the weekend.

Mobius led rising market funding at Franklin Templeton Investments for 3 many years and is understood for his bullish view on China. Now, although, he stated, he “can be very, very cautious” investing within the nation.