China SAFE starts assessing potential impact on trade if US adopted protectionist measures

Reuters quoting sources familiar with the matter, citing that China's fx regulator, State Administration of Foreign Exchange (SAFE), is asking large trading firms in Shanghai to assess the potential impact of the US protectionist trade policies, should they be adopted.

Key Headlines:

SAFE asking large trading firms in Shanghai to assess tolerance for potential hike in US tariffs.

SAFE also looking at the operations on US-invested firms in China, invc business models and whether those firms will move production to other countries or divest from China