China to prevent risk of abnormal foreign capital influx

Officials from the State Administration of Foreign Exchange (SAFE) announced on Feb. 16 that it will actively prevent and effectively respond to unusual risk of capital inflows on the basis of daily monitoring, with onsite verification and system improvement as the main starting point.

SAFE will focus this year on promoting reform in key areas and make efforts to improve the level of current facilities. SAFE will also strengthen monitoring and analysis and off-site supervision as well as effectively change the current foreign exchange management.

The main tasks of State Administration of Foreign Exchange in 2011 are: promote the transformation of trade-in-goods foreign exchange management; improve the service trade foreign exchange management; increase the management level personal foreign exchange business and foreign exchange account and further improve groundwork.

By Peoples Daily


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