Latest News:  


Inflow of 'hot money' tackled, expert says

By Li Jiabao  (

09:10, July 11, 2013

The inflow of speculative money disguised as payment for trade between the mainland and the Hong Kong Special Administrative Region was tackled in May, Zheng Yuesheng, spokesman for the General Administration of Customs, told a news conference on Wednesday.

Data concerning export trade to the region was more reflective in June, he said.

Trade data in the first four months was inflated by speculative funds, or "hot money", covered as trade payments, to avoid capital controls and take advantage of currency appreciation, Zheng said.

The State Administration of Foreign Exchange, China's foreign exchange regulator, boosted its scrutiny of export invoices, and imposed tougher penalties on companies giving fake data since late April.

The mainland's trade with Hong Kong in June declined 7 percent from a year earlier, compared with the 5.7 percent increase in May and the 57 percent surge in April, said Chen Hufei, a researcher from the Bank of Communications.

It registered a 92 percent jump in March.

We Recommend:

How did Chinese solar industry go bankrupt?

Born to lead: 2nd gen of Chinese tycoons

Chinese graduates’ unconventional jobs

China's largest railway terminal officially opens

Dazzling gems shine at Beijing jewelry show

Boeing 787 Dreamliner to serve Beijing-Haikou route

New high-speed rail linking Nanjing, Ningbo opens

Jiaxing-Shaoxing Sea Bridge in E China

Chinese investors' happiness and sadness

Email|Print|Comments(Editor:WangXin、Chen Lidan)

Leave your comment0 comments

  1. Name


Selections for you

  1. Chinese,Russian naval forces leave for drill

  2. China-Russia joint drill enters 2nd day

  3. Iranian female ninjas show combat skills

  4. Children's hospital full of patients

  5. Pushy parents turn matchmaking events

  6. China's weekly story

  7. Egrets enjoy life in forest

  8. Cute cats vs stylish women

  9. China Pan-Asia Stone Expo kicks off

  10. China's 50 best CEOs named

Most Popular


  1. China didn't cause German solar firms' bankruptcy
  2. China, U.S. discuss cyber security
  3. Why are we obsessed with selfies?
  4. Israel keen on luring Chinese tourists
  5. 'Bernanke shock' necessary
  6. Safety first for baby formula
  7. Defense paper shows Tokyo's hysteria
  8. Shanghai investor sentiment drops
  9. Graduates need more help to start business
  10. CPC is thriving

What’s happening in China

Wild Siberian tiger kills cattle in NE China

  1. China confirms 132 H7N9 cases, 43 deaths
  2. China completes overhaul of dairy standards
  3. Buddhist life attractive to people under stress
  4. Newborns' weight leads caesarian births rise
  5. New system adopted for fairer access to organs