China Regulator Says To Slowly Loosen Currency Controls

Bareksa.com - China will gradually loosen its foreign exchange restrictions under its capital account as the next step in its economic reforms, the currency regulator said on Thursday.

Guo Song, the head of the capital account department at the State Administration of Foreign Exchange, the currency regulator that overseas China's $3.99 trillion of foreign exchange reserves, made the comments at a press briefing. (Source: Reuters)