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HK/China Gains Offset Weaker Lead From US Futures

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CHINA PRESS: Capital outflows, rather than high debt ratios, are likely to be
the biggest source of systemic risks in China in the period ahead, Yu Yongding,
a researcher with the Chinese Academy of Social Sciences and a former member of
the PBOC's Monetary Policy Committee, said Wednesday in an interview with Caixin
Magazine. China's international payment balance sheet contains large  net errors
and omissions since a large amount of illegal capital fight has not been
recorded, Yu argued. Although capital outflows have slowed as the yuan exchange
rate has stabilized, some companies still have strong intentions to purchase
foreign exchange, Yu warned. Recent policies show regulators have noticed the
damage caused by capital fight, Yu noted. (Caixin Magazine)

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