{"id":22605,"date":"2008-08-08T05:07:04","date_gmt":"2008-08-08T12:07:04","guid":{"rendered":"http:\/\/chinadigitaltimes.net\/?p=22605"},"modified":"2008-08-08T05:08:18","modified_gmt":"2008-08-08T12:08:18","slug":"china-tightens-currency-controls-to-curb-inflows","status":"publish","type":"post","link":"https:\/\/chinadigitaltimes.net\/2008\/08\/china-tightens-currency-controls-to-curb-inflows\/","title":{"rendered":"China Tightens Currency Controls To Curb Inflows"},"content":{"rendered":"

From AP<\/a>:<\/p>\n

\nChina has issued new controls on transfers of foreign currencies, moving to contain inflationary pressures by curbing the speculative inflows, or so-called hot money, that has been flooding into the country in recent years.<\/p>\n

The new rules<\/a>, issued late Wednesday with immediate effect, call for penalties of up to 30 percent of the capital involved in any unauthorized inward or outward foreign currency transfers. They give authorities stronger control over such transactions and expand reporting requirements for financial institutions.<\/p>\n

“As China’s economy becomes more internationalized and the movement of international capital flows accelerates, there is a need to improve the system and oversight of multinational capital movements,” the State Administration of Foreign Exchange, or SAFE, said in a statement posted on its Web site.<\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"

From AP: China has issued new controls on transfers of foreign currencies, moving to contain inflationary pressures by curbing the speculative inflows, or so-called hot money, that has been flooding into the country in recent years. The new rules, issued late Wednesday with immediate effect, call for penalties of up to 30 percent of the […]<\/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":[2],"tags":[565,6994],"class_list":["post-22605","post","type-post","status-publish","format-standard","hentry","category-economy","tag-currency","tag-hot-money","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"yoast_head":"\nChina Tightens Currency Controls To Curb Inflows<\/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\/08\/china-tightens-currency-controls-to-curb-inflows\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"China Tightens Currency Controls To Curb Inflows\" \/>\n<meta property=\"og:description\" content=\"From AP: China has issued new controls on transfers of foreign currencies, moving to contain inflationary pressures by curbing the speculative inflows, or so-called hot money, that has been flooding into the country in recent years. The new rules, issued late Wednesday with immediate effect, call for penalties of up to 30 percent of the […]\" \/>\n<meta property=\"og:url\" content=\"http:\/\/chinadigitaltimes.net\/2008\/08\/china-tightens-currency-controls-to-curb-inflows\/\" \/>\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=\"2008-08-08T12:07:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2008-08-08T12:08:18+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\" 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