China Capital, Financial Account Deficit Likely to Narrow in 2017, Regulator Says

Features Dow Jones Newswires

China's capital and financial account deficit is likely to narrow this year, the country's foreign-exchange regulator said in an annual report published on its website Wednesday.

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The State Administration of Foreign Exchange also reiterated that penalties would be imposed for irregularities in the foreign-exchange market. The world's biggest holder of foreign currency has recently stepped up controls aimed at curbing capital outflows.

The regulator also vowed to guard against shocks from cross-border capital flows and keep financial markets stable.

--Pei Li

(END) Dow Jones Newswires

May 03, 2017 07:12 ET (11:12 GMT)