China's forex regulator repeats plan to combat hot money inflows in 2011

13:06, January 07, 2011      

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China's foreign exchange regulator said Thursday that it would focus on combating hot money inflows into the country to avert economic risks in 2011.

The State Administration of Foreign Exchange would crack down on irregular money inflows and strengthen supervision of cross-border fund flows this year, according to a statement on the website of the SAFE.

Further, it would gradually loosen restrictions on cross-border capital transactions while maintaining or increasing the value of its foreign-exchange reserves, according to the statement.

The U.S. second round of quantitative easing has added to China' s mounting pressures caused by hot money inflows this year amid its concerns about excessive liquidity.

Source:Xinhua
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