International Law

China to strengthen management of cross-border capital flows

By China Briefing

BEIJING, Jan. 30 - China?s foreign exchange regulator said yesterday it will strengthen management of cross-border capital flows and short-term bank borrowing in 2008.

The State Administration of Foreign Exchange will conduct checks on cross-border capital flows, paying particular attention to how foreign currency converted into yuan is used in China.

China faces increasing pressure from the United States and the EU due to its large foreign exchange reserve and growing trade surplus. At the end of 2007, the foreign exchange reserve was US$1.53 trillion, up 43.3 percent year-on-year. (more…)

Full post as published by China Briefing Blog on January 30, 2008 (boomark / email).