China to expand cross-border trade and investment in pilot zones

SHANGHAI (Reuters) - China's foreign exchange regulator said on Tuesday it will relax cross-border trade and investment rules in several domestic pilot zones, while stepping up risk control over capital flows.

Companies in the pilot zones - in Shanghai, Guangdong, Hainan and Zhejiang - will get more freedom to borrow money from overseas, and to experiment with cross-border asset transfer businesses, the State Administration of Foreign Exchange (SAFE) said on its website.

(Reporting by Shanghai Newsroom; Editing by Andrew Heavens)