The Traderszone Network

Published in TZ Latest News 21 October, 2015 by The TZ Newswire Staff

China says outflows normal, no panic capital flight

Recent outflows of money from China are “normal” and not a sign of panic capital flight, a senior official at the foreign exchange regulator said on Thursday, downplaying fears over growing outflows as the economy slows. China is confident in keeping international payments and receipts balanced in the future thanks to a positive economic outlook, Wang Xiaoyi, deputy head of the State Administration of Foreign Exchange (SAFE) told a news conference. “Current changes (in capital flows) are normal, which should not be regarded as capital flight,” Wang said.