Bloomberg News

China to Strengthen Supervision on ‘Abnormal’ Money Outflows

November 20, 2011

Nov. 21 (Bloomberg) -- China will strengthen supervision on “abnormal” capital outflows as part of its “hot money” crackdown efforts, the State Administration of Foreign Exchange said in a statement posted on its website today.

The country’s foreign currency regulator found non- complaint cases worth $16 billion in the first half of this year, the statement said.

To contact the editor responsible for this story: Gregory Turk at gturk2@bloomberg.net


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