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China's FX forwards measure is not capital control: central bank

The Shanghai Futures Exchange, one of the world's top metals bourses, is from Tuesday charging fees for closing nickel positions on the same day they are opened, part of a series of measures by China to curb speculation in futures markets.

[BEIJING] China's central bank defended on Tuesday new regulations imposed on the currency forwards market this month, saying they were not a form of capital control and were introduced after investors had speculated in the market.

The controls would help to stabilise China's financial system at a time when increased yuan volatility is likely to cause more companies to incur foreign exchange losses, the People's Bank of China said in a statement on its website.


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