In Changyuan, near Xinxiang in China's Henan province, face mask factories are working around the clock to increase output. (Photo provided to chinadaily.com.cn)

BEIJING - China's forex regulator pledged efforts to optimize foreign exchange management to support epidemic control and economic development.

Measures should be taken to make full use of the "green channel" built to facilitate foreign exchange flows related to the epidemic prevention and control, said the State Administration of Foreign Exchange.

Procedures will continue to be streamlined for importing medical and protective supplies, handling donation funds in foreign exchanges and carrying out cross-border financing.

Measures should be taken to make full use of the "green channel" built to facilitate foreign exchange flows related to the epidemic prevention and control, said the State Administration of Foreign Exchange

The administration will also further facilitate cross-border trade and investment by increasing foreign exchange services through payment institutions, promoting the opening up of capital projects and assisting the interconnection of financial markets.

READ MORE: Premier stresses resuming work, ensuring supply amid epidemic

Supervision of the forex market should be tightened, said the authority, adding that illegal behaviors will be strictly punished.  

Also on Tuesday, the State Administration for Market Regulation said the country has rolled out a raft of measures to further improve market regulation and support companies to resume work amid the fight against the novel coronavirus outbreak.

Tang Jun, deputy head of the State Administration for Market Regulation, said at a press conference that the nation has strengthened online administrative services for companies such as enterprise registration, business license approval and qualification accreditation.

The approval procedures have been streamlined, aiming to shorten the approval period and reduce costs for enterprises to the largest extent, Tang said.

ALSO READ: Li says supply remains vital policy issue

The administration has set up a green channel for enterprises producing epidemic prevention materials or related drugs in terms of business registration, patent application and trademark filing.

Meanwhile, it has further lowered fees of related technical services provided by the verification and inspection departments under the administration, according to Tang.

For enterprises in Hubei Province, the epicenter of the epidemic, fees for related verification, calibration and inspection services have been exempted, he said.