Facebook Twitter 新浪微博 Instagram YouTube Thursday, Feb. 18, 2016
Search
Archive
English
English>>Business

MOC: No Signs of Capital Flight in China

(CRI Online)    08:51, February 18, 2016

File photo shows Shen Danyang, spokesman of China's Ministry of Commerce. (File photo)

China's Ministry of Commerce says the country is not witnessing any signs of capital flight.

This follows concerns about China's economic slowdown, including declining foreign exchange reserves and capital outflows putting pressure on the Chinese yuan.

Ministry spokesman Shen Danyang says there is no basis for the continued depreciation of the yuan.

"The data of the State Administration of Foreign Exchange indicates that at present China's balance of international payments is still prudent. China's economy and domestic market fundamentals are good. There is no basis for continued depreciation of the yuan. Therefore, there is no so-called intensified capital flight."

Central bank governor Zhou Xiaochuan said on Saturday that the country will not allow speculators to dominate market sentiment regarding its foreign exchange reserves.

(For the latest China news, Please follow People's Daily on Twitter and Facebook)(Editor:Kong Defang,Bianji)

Add your comment

Related reading

We Recommend

Most Viewed

Day|Week

Key Words