You are here

China's cross-border capital flows back to normal, seen stable: regulator

Thursday, April 21, 2016 - 11:03

[BEIJING] China's cross-border capital flows are back to normal after short-term volatility, and will be stable in the future, the foreign exchange regulator said on Thursday.

Wang Chunying, spokeswoman of the State Administration of Foreign Exchange (SAFE) said at a news conference that China will maintain ample foreign exchange reserves and a surplus on the current account.

China will be able to cope with the US Federal Reserve's rate hike policy normalisation, and will push forward with yuan regime reform, Ms Wang said.

Ms Wang added that China's main economic indicators have shown positive changes as the yuan stabilised.

The spokeswoman said the foreign exchange regulator will continue to crack down on illegal foreign exchange activities.

REUTERS

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom