IMF warns on capital account
By Wang Xiaotian | China Daily | Updated: 2013-08-31 08:17
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The State Administration of Foreign Exchange has said qualified domestic institutional investors that are investing abroad on behalf of their clients could use whatever foreign currencies they prefer. Xie Zhengyi / for China Daily |
Opening China's capital account may trigger net portfolio outflows as holders of large domestic savings seek to diversify abroad, said researchers at the International Monetary Fund in a working paper.
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