17 Feb '11, 11am

China says 2010 'hot money' flows hit US$35.5b

China says 2010 'hot money' flows hit US$35.5b

BEIJING - China said Thursday that net speculative capital inflows into the country last year equalled US$35.5 billion, and vowed to maintain a crackdown on so-called "hot money". China has sought to limit flows of volatile "hot money", which enter and exit nations in search of swift profits and are often blamed for destabilising markets as they tend to depart at the first sign of trouble. The State Administration of Foreign Exchange (SAFE), in announcing the figure, said speculative cash made up "a relatively small portion" of the foreign exchange reserves China attracted in 2010. It said that was due in part to the country's controls against such flows. The forex reserves, the world's largest, increased in 2010 by US$469.6 billion to US$2.847 trillion. The report is believed to be the first comprehensive analysis published by the Chinese government of "hot money" inflows...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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