BEIJING – 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.
(END) Dow Jones Newswires
May 03, 2017 07:12 ET (11:12 GMT)