Core Viewpoint - The Central Third Inspection Team conducted a routine inspection of the State Administration of Foreign Exchange (SAFE) from April 17 to July 20, 2024, and provided feedback on October 21, 2024, emphasizing the importance of rectifying issues identified during the inspection to enhance the effectiveness of foreign exchange management and governance [1][2]. Group 1: Rectification Responsibilities - The SAFE Party Group recognized the importance of political responsibility in rectification, emphasizing the need for political awareness and action to address issues identified during the inspection [2][3]. - A leadership group was established to oversee the rectification process, with clear responsibilities assigned to various departments and a structured plan for addressing 13 key tasks [3]. - The Party Group actively engaged in monitoring and supervising the rectification process, ensuring accountability at all levels [4]. Group 2: Key Issues and Rectification Measures - The SAFE is actively promoting the revision of foreign exchange regulations, including the "Foreign Exchange Management Regulations" and interim provisions for the interbank foreign exchange market [5]. - Efforts are being made to enhance monitoring and regulatory efficiency, including the establishment of a financial regulatory system and improved mechanisms for cross-departmental cooperation [6]. - The SAFE is focusing on strengthening the monitoring of foreign exchange activities, including the construction of digital regulatory systems and the establishment of regional analysis centers to enhance non-site regulatory capabilities [7]. Group 3: Party Governance and Supervision - The SAFE is committed to deepening the implementation of strict party governance, with a focus on enhancing supervision and accountability within its ranks [10][12]. - Measures are being taken to improve the management and supervision of subordinate units, ensuring that party responsibilities are effectively implemented [11]. - The SAFE is enhancing its internal oversight mechanisms, including regular audits and assessments of compliance with party regulations [13]. Group 4: Long-term Rectification and Future Plans - The SAFE is establishing long-term mechanisms for rectification, ensuring that issues identified during the inspection are addressed sustainably [16]. - Future plans include strengthening the centralized leadership of foreign exchange management, enhancing regulatory frameworks, and promoting high-level reforms in the foreign exchange sector [21][22]. - The SAFE aims to foster a loyal, clean, and responsible cadre of foreign exchange management personnel through improved training and evaluation systems [24].