Says:

  • China faces pressure from net capital inflows
  • impact on US Fed’s QE tapering on China capital flows is limited
  • it is considering a Tobin tax to curb capital flows
  • to rely more on market-based tools to control capital inflows
  • Expects the yuan to have greater two-way volatility

The State Administration of Foreign Exchange (SAFE). Comments from a department head, Guan Tao.

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Headlines on the wires