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Record fund outflows of US$500b seen
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China will post record capital outflows in 2015 of more than US$500 billion, according to a report by the Institute of International Finance.
The IIF, an authoritative tracker of emerging market capital flows, said the world鈥檚 second-largest economy is likely to see US$150 billion in capital outflow in the fourth quarter of the year, following the third quarter鈥檚 record US$225 billion.
The estimate is based on trade data, Chinese banks鈥 transactions on the behalf of clients, and changes in central bank reserves, the report said.
鈥淭he latest high-frequency indicators show that Chinese exports continued to decline for a fifth consecutive month in November, with the trade surplus narrowing to US$54 billion from US$62 billion in October,鈥 the report said over the weekend.
Foreign exchange reserves had fallen around US$87 billion to US$3.44 trillion during the month to the lowest since February 2013.
China said on Friday that it had begun issuing a yuan exchange rate against a basket of currencies to deter investors from exclusively tracking the yuan鈥檚 swings against the US dollar.
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