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Chinese government is considering introducing new foreign exchange instruments to meet domestic market demand. They would also complement currency reforms launched in June.
In a statement from the State Administration of Foreign Exchange, the currency regulator said it would push forward selective capital account reforms in key areas. In doing so, it would make sure any risks were manageable.
SAFE said it would keep a tight grip on hot money inflows, enhancing guidance given to market makers, and improving the currency composition and asset mix. China has 2.45 trillion US dollars in foreign exchange reserves.
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