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China Pledges to Stem Speculative Money Influx
Aug 5,2011 09:01CST
data analysis
Source:SMM
China's foreign exchange regulator said Thursday that it will make combating the influx of speculative money a major priority in the second half of this year.

BEIJING, Aug. 4 (Xinhua) -- China's foreign exchange regulator said Thursday that it will make combating the influx of speculative money a major priority in the second half of this year.

China will face relatively significant pressure from capital flowing into the country in the second half, the State Administration of Foreign Exchange said in a statement posted on its website.

The agency will also clamp down on illegal foreign exchange transactions and carry trades in the market, the statement said.

It added that the agency will accelerate the reform of foreign exchange management in order to promote the stable development of the country's economy. 

macro economy

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