Since the global financial crisis, China has accelerated the process of capital account liberalisation and RMB internationalisation. Financial openness has increased significantly. However, over the past few years, China has used both market intervention and capital flow management measures to deal with the shocks resulting from intense capital outflow.In the future, China should properly separate macro-management and micro-regulation, and establish a dual-pillar cross-border capital flow management framework. Additionally, capital flow management, especially capital control, should only be temporary measures used to buy time for other reforms.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.
hi@scite.ai
10624 S. Eastern Ave., Ste. A-614
Henderson, NV 89052, USA
Copyright © 2024 scite LLC. All rights reserved.
Made with 💙 for researchers
Part of the Research Solutions Family.