MNI BRIEF: China To Strengthen Cross-border Capital Monitoring

China should strengthen the monitoring of cross-border capital flows to prevent large fluctuations impacting the macroeconomy when attracting foreign investment, said Wang Chunying, president of the Export-Import Bank of China during the China Development Forum in Beijing on Monday. 

It is necessary to strengthen early warning monitoring and stress testing, as well as increase anti-monopoly and anti-unfair competition management while relaxing access and improving services for foreign-invested enterprises, said Wang, formerly deputy director of the State Administration of Foreign Exchange.

China should further relax foreign investment access in finance, telecommunications, education, medical and other service fields, as well as consider adding free trade pilot zones in the western and northeastern regions. (See MNI INTERVIEW: Hainan Green FTZ to Attract EU Investors - NPC)