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MNI (Sydney)

China will "properly quicken" reforms to facilitate capital outflows and will continue to facilitate cross-border financing and investment, according to Ye Haisheng, the director of Capital Account Management Department under State Administration of Foreign Exchange (SAFE), in an article published in the administration's magazine.

As the yuan broke the key level of 6.5 against the greenback and appreciated at a fast pace at the beginning of this year, Ye's comment may give a sign that Beijing intends to help the acceleration of capital outflows to slow the sharp rally of the currency, MNI understands.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
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MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
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