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

[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