Money

China to continue to fight hot money inflow: SAFE

(Xinhua)
Updated: 2010-07-10 13:32

BEIJING - China's State Administration of Foreign Exchange (SAFE) said Friday it would step up efforts to monitor and fight hot money inflow.

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This is the fifth time for the country's foreign exchange regulator to respond to the issue publicly within a week. The regulator posted a question-and-answer statement on its website each time.

Investigations into speculative hot money starting in February have found 190 cases or $7.35 billion of hot money flowing into China this year, according to the SAFE.

Capital flows into and out of China for purposes other than payments related to exports and imports are strictly controlled by the SAFE, which manages China's $2.45 trillion in foreign exchange reserves.