Central Bank Governor Defines his 'Pool'

China's central bank governor Zhou Xiaochuan said the capital controls he proposed to combat "hot money" referred to foreign exchange reserves.

Following the U.S. Federal Reserve's quantitative easing measures, economists have been concerned with speculative capital moving toward emerging markets for arbitrage.

Zhou responded to this concern by saying China will use a "pool" to keep "hot money," during the November 5 Caixin Summit.