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China frets over rising capital inflow pressure

Updated:2010-05-18 17:10:21

Capital inflows are placing big pressure on China this year, as domestic companies and banks repatriate large volumes of foreign currency, a senior official said in remarks published yesterday.

Guan Tao, who heads the international balance of payments department at the State Administration of Foreign Exchange , said that ultra-low interest rates in the United States were also fuelling a global dollar carry trade that was channeling more funds to China. Guan suggested that Chinese players were the main drivers of these flows, looking to take advantage of both yuan appreciation and low U.S. rates.

 


Source: Shenzhen Daily

 

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