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No worries about capital outflow: Chinese regulator
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China's State Administration of Foreign Exchange (SAFE) dismissed worries about huge capital outflows on Thursday as the Federal Reserve decides whether to hike US interest rates.
"Depreciation pressure on the Chinese yuan has been largely released and its value has almost stabilized," Wang Yungui, a department director with the SAFE, told a news conference.
The yuan versus the US dollar has substantially depreciated since August, and China still maintains a large trade surplus and its economic fundamentals are still sound, he said.
"There is no basis for large-scale outflow of foreign capital," said Wang.
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