AFP: China’s forex chief warns against “hot money”

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China’s foreign exchange chief Guo Shuqing has issued a rare warning against “” flowing into China, telling local governments not to attract foreign investment “haphazardly”.

Regulators have been playing down the amount and impact of speculative money inflows but Guo warned of “no end of trouble for the future” unless local governments were made aware of the risks of soaking up foreign funds.

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