China stanches flow of money out of the country, data suggests
Stability in the country's forex reserves and a slight appreciation of the renminbi against the dollar indicate a shift in strategy, say economists and bankers
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Hong Kong
CHINA rattled markets around the world last year when vast sums of money began flowing out of the country. Estimated at nearly US$1 trillion, the money flows represented growing scepticism that China would be able to fix its deep problems and resume its place as a driver of global economic growth.
Doubts remain about Beijing's ability to rev up slowing growth and patch up its frayed financial system. But new data suggests China has stanched, at least for now, the flow of money that had been pouring out of the country.
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