China needs to show greater concern for.......>

CHINA: China needs to show greater concern for capital account openness, Chen

Zhiwu, a Yale University economics professor, said Wednesday in Beijing during

the Caixin Summit, an annual gathering of business, political and academic

leaders. Chen said China's outbound investment over the past two years has

suffered from tight controls, and that if the capital account is not opened

further, domestic asset bubbles could continue to build, darkening prospects for

the government's financial deleveraging campaign. China should lift restrictions

on capital flows and widen the volatility range of the yuan exchange rate, Chen

suggested.