China capital flow turned positive in first half of year
Beijing’s efforts to stem outflow tide paid off, data show
China’s foreign exchange reserves rose for the sixth straight month to a nine-month high, data from the People’s Bank showed on Monday, reports Shanghai Daily. It marked the longest streak of gains since June 2014.
The data shows that policies aimed at supporting the yuan and cracking down on overseas investments have been successful in taming capital flight.
Positive capital flows for the first half of 2017, come after two years of unprecedented outflows that caused widespread concern about the stability of China’s financial system.