{"id":21431,"date":"2008-07-03T05:54:45","date_gmt":"2008-07-03T12:54:45","guid":{"rendered":"http:\/\/chinadigitaltimes.net\/?p=21431"},"modified":"2008-07-03T05:56:08","modified_gmt":"2008-07-03T12:56:08","slug":"china-to-crack-down-harder-on-hot-money-govt","status":"publish","type":"post","link":"https:\/\/chinadigitaltimes.net\/2008\/07\/china-to-crack-down-harder-on-hot-money-govt\/","title":{"rendered":"China To Crack Down Harder On &#8216;Hot Money&#8217;: Govt"},"content":{"rendered":"<p>From <a href=\"http:\/\/afp.google.com\/article\/ALeqM5jv4up_23rVKb___w0mq69sP8fKIw\">AFP<\/a>:<\/p>\n<blockquote><p>\nChina will launch a forex monitoring system to scrutinise checks on the authenticity of export transactions, the government said, in its latest move to crack down on speculative capital inflows.<\/p>\n<p>Exporters must have their revenues audited by banks before they can exchange the money into the local currency, <a href=\"http:\/\/www.mofcom.gov.cn\/aarticle\/b\/e\/200807\/20080705641399.html\">said a statement<\/a> posted on the commerce ministry&#8217;s website late Wednesday.<\/p>\n<p>The new system is aimed at &#8220;enhancing the supervision of cross-border capital flows and improving checks on the authenticity and consistency of the export transactions and the foreign exchange settlement involved,&#8221; it said.<\/p>\n<p>The system will roll out nationwide on July 14, said the statement, which can be found also on the websites of the State Administration of Foreign Exchange (SAFE) and the customs bureau.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>From AFP: China will launch a forex monitoring system to scrutinise checks on the authenticity of export transactions, the government said, in its latest move to crack down on speculative capital inflows. Exporters must have their revenues audited by banks before they can exchange the money into the local currency, said a statement posted on [&hellip;]<\/p>\n","protected":false},"author":32,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","_links_to":"","_links_to_target":""},"categories":[116,2],"tags":[962,6994],"class_list":["post-21431","post","type-post","status-publish","format-standard","hentry","category-world","category-economy","tag-capital","tag-hot-money","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.9 (Yoast SEO v23.9) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>China To Crack Down Harder On &#039;Hot Money&#039;: Govt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/chinadigitaltimes.net\/2008\/07\/china-to-crack-down-harder-on-hot-money-govt\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China To Crack Down Harder On &#039;Hot Money&#039;: Govt\" \/>\n<meta property=\"og:description\" content=\"From AFP: China will launch a forex monitoring system to scrutinise checks on the authenticity of export transactions, the government said, in its latest move to crack down on speculative capital inflows. Exporters must have their revenues audited by banks before they can exchange the money into the local currency, said a statement posted on [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"http:\/\/chinadigitaltimes.net\/2008\/07\/china-to-crack-down-harder-on-hot-money-govt\/\" \/>\n<meta property=\"og:site_name\" content=\"China Digital Times (CDT)\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ChinaDigitalTimes\" \/>\n<meta property=\"article:published_time\" content=\"2008-07-03T12:54:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2008-07-03T12:56:08+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/chinadigitaltimes.net\/wp-content\/uploads\/2021\/08\/CDT-logo.png\" \/>\n\t<meta property=\"og:image:width\" content=\"186\" \/>\n\t<meta property=\"og:image:height\" content=\"177\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Liu Yong\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cdt\" \/>\n<meta name=\"twitter:site\" content=\"@cdt\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Liu Yong\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\/\/chinadigitaltimes.net\/2008\/07\/china-to-crack-down-harder-on-hot-money-govt\/#article\",\"isPartOf\":{\"@id\":\"http:\/\/chinadigitaltimes.net\/2008\/07\/china-to-crack-down-harder-on-hot-money-govt\/\"},\"author\":{\"name\":\"Liu Yong\",\"@id\":\"https:\/\/chinadigitaltimes.net\/#\/schema\/person\/bde859fa557a468c7a4b1a9d9db2b46c\"},\"headline\":\"China To Crack Down Harder On &#8216;Hot Money&#8217;: Govt\",\"datePublished\":\"2008-07-03T12:54:45+00:00\",\"dateModified\":\"2008-07-03T12:56:08+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\/\/chinadigitaltimes.net\/2008\/07\/china-to-crack-down-harder-on-hot-money-govt\/\"},\"wordCount\":134,\"publisher\":{\"@id\":\"https:\/\/chinadigitaltimes.net\/#organization\"},\"keywords\":[\"capital\",\"hot money\"],\"articleSection\":[\"China &amp; 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