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Greater Controls of Capital Flow Needed: Daily

CHINA PRESS

China should raise costs on short-term cross-border capital flows and tighten the regulation of cross-border transactions by financial institutions and firms to prevent speculative capital from destabilizing the financial market, said Zhu Min, the former Deputy Managing Director of the IMF, in an interview with People's Daily. Cross-border capital flow are faster and bigger than in the past, given the rising demand for yuan assets, Zhu said.

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