You are here

China forex regulator says not worried about capital outflows

chinayuanhs2310.jpg
China's foreign exchange reserves, the world's largest, fell slightly to US$3.89 trillion at the end of September from US$3.99 trillion at the end of June.

<p>[BEIJING] China's foreign currency regulator is not concerned about forex outflows, the country's State Administration of Foreign Exchange (SAFE) said on Thursday.</p>

<p>However, China is closely monitoring the impact of US monetary policy, and is seeing signs of increased volatility in cross-border flows.</p>

<p>The remarks were made by Guan Tao, head of the department of international payments at SAFE, during a news conference.</p>

<p>China's foreign exchange reserves, the world's largest, fell slightly to US$3.89 trillion at the end of September from US$3.99 trillion at the end of June, central bank data showed.</p>

sentifi.com

Market voices on:

<p>The decline suggested speculative "hot money" outflows from China amid increased market jitters about whether the world's second-largest economy may be at risk of a sharper slowdown, analysts said.</p>

<p>Guan said the decline in forex reserves was in line with policy goals, adding that the central bank was gradually ceasing intervention in the forex market.

<p>REUTERS</p>

Powered by GET.comGetCom