China Forex Regulator: Management of Capital Flows Returns to 'Neutral'
China's foreign-exchange regulators have dialed back measures imposed to control capital leaving the country as cross-border flows have now returned to a more balanced state, Pan Gongsheng, the head of the State Administration of Foreign Exchange said.
“Macro-prudential policies adopted in the previous period have returned to a neutral position. In future, foreign exchange management will promote the balanced management of cross-border capital flows,” Pan wrote in an article titled “Promoting Balanced Foreign Exchange Management to Serve China’s New Era of All-Round Opening-Up.” “The regulator will pursue a neutral policy with regard to the foreign-exchange market.”
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