Sunday, June 08, 2008

CHINA will increase monitoring of Forex

CHINA will increase monitoring of money inflows and banks' foreign currency holdings following a surge in the current account surplus in 2007.

A trade surplus will continue to affect the balance of payments in 2008, but restructuring is starting to take off and will continue, the State Administration of Foreign Exchange said in a report released on Thursday. The current account surplus, the broadest measure of trade and investment inflows, widened 47 percent year-on-year to US$371.8 billion in 2007, the regulator said.

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