In another sign of moves by China to attract foreign investment into the country, the Asian giant will waive and simplify regulations, the State Administration of Foreign Exchange, or SAFE, has said, according to media reports.

SAFE reportedly said that there's no evidence to suggest that the nation is seeing pressure from capital inflows, although the renminbi, or yuan, has strengthened in recent weeks, buoyed by optimism about China's economic outlook. (There appears yet to be no version of the statement in English on SAFE’s website at the time of this publication going to press.)

From 17 December, foreign investors will not need regulatory clearance to open bank accounts, remit profits, and transfer money between different domestic accounts, the organisation is quoted as having said. And the limits on the number of foreign-currency accounts and the amount of money that can be transferred will also be loosened, it added.

The move comes at a time when China, which has experienced a deceleration of its red-hot growth rate in recent months, is seen as looking to make business conditions easier for inward investors. For example, according to data issued earlier in November, China granted a record $2.75 billion in quotas to organisations such as Barclays, JP Morgan, Citigroup, Goldman Sachs and Standard Chartered. A total of 192 entities received quotas. In total, the quotas were granted in October to invest in China's stock and bond markets under the Qualified Foreign Institutional Investor scheme.

SAFE is to cancel 35 rules on regulatory approval and simplify 14 others.

Data from the country’s ministry of commerce shows that in October, foreign direct investment in China declined for the 11th time in 12 months.