China will fend off cross-border capital flow risks and keep the yuan exchange r...
BEIJING - China will fend off cross-border capital flow risks and keep the yuan exchange rate basically stable in 2019, the country’s foreign exchange regulator said on Friday.
Since 2016, China has imposed stringent curbs to prevent capital flight, a move made in the aftermath of a spectacular stock market collapse during the last economic downturn. Regulators will continue to crack down on illegal foreign exchange activities, SAFE added. China will push forward capital account convertibility in an orderly way this year, with further opening-up in its equity and stock markets, SAFE said on Friday.
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