Beijing downplays hot money flows

flyingdollars

Data on capital inflows released on Thursday by China's State Administration of Foreign Exchange (Safe) has downplayed the extent of hot money flows into the country.

In its report, Safe said $35.5 billion of speculative capital flows had entered the country in 2010, with an average annual net inflow of about $25 billion in the last 10 years. Safe said, however, that the inflows, which were equivalent to 7.6% of its accumulated foreign exchange reserves, were "ant-like" in comparison to the size

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