Attract Long Term Foreign Capital - SAFE Official

Authorities will take measures to attract more foreign financial institutions to invest long-term capital in China, according to Wang Chunying, deputy director and spokesperson at the State Administration of Foreign Exchange (SAFE). Speaking in response to the recent Central Financial Work Conference, Wang said SAFE would keep the yuan exchange rate stable at a balanced level and improve the quality of capital account opening. He noted that the domestic economy can maintain a stable and positive recovery which gives the foreign-exchange market and international balance of payments a solid foundation to maintain smooth operation. (Source: Yicai)