China clamps down on hot money
The authorities in Beijing have announced new measures to curb the inflow of speculative money, which is adding to the booming economy's increasing inflation problem.
The Chinese government, through the State Administration of Foreign Exchange (SAFE), the country's foreign exchange regulator, announced on Thursday that exporters would be required to deposit revenues in special accounts while the authorities checked their receipts to ensure that the funds were the result of legitimate trade
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