Foreign debt quota
Source: Bloomberg News |
April 16, 2011, Saturday
|
Print Edition
Print Edition
CHINA'S State Administration of Foreign Exchange has cut its outstanding short-term foreign debt quota for the year to help curb inflows of so-called hot money.
The reduction will "help maintain balance in international payments and boost liquidity management," SAFE said on its website yesterday.
The quota for some Chinese banks will be reduced to US$10.2 billion for the year from April 1, the regulator said. It set the quota for some foreign banks at US$14.6 billion, according to the statement.
The reduction will "help maintain balance in international payments and boost liquidity management," SAFE said on its website yesterday.
The quota for some Chinese banks will be reduced to US$10.2 billion for the year from April 1, the regulator said. It set the quota for some foreign banks at US$14.6 billion, according to the statement.
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