China is moving toward a general equilibrium of current account balance. The yuan exchange rate is also approaching a reasonable and balanced level. Under these circumstances, two-way fluctuations of cross-border capital flows are likely to become the new norm due to increasing economic uncertainties in and outside China.

Guan Tao, head of the department of international payments, State Administration of Foreign Exchange.

(China Daily European Weekly 10/31/2014 page18)