Savings outflow must be tackled
Updated: 2013-07-30 21:15
(chinadaily.com.cn)
|
|||||||||||
What the government should be concerned about is not the outflow of foreign capital, but the wealthy sending their savings overseas, said an article in the 21st Century Business Herald (excerpts below).
According to the Ministry of Commerce, although the number of new enterprises funded by foreign capital dropped, the actual use of foreign capital in China still rose steadily.
But money from non-industrial sector continued to leave China. This is money from individuals that want to place it elsewhere. The recovery of the US economy and uncertainties of the Chinese economy have seen this outflow increase.
Building up a healthy market and a fair society is the best way to prevent this type of capital from leaving the country.
Related Stories
Nation 'should keep an eye on capital outflow' 2013-07-19 07:31
Emerging markets to weather capital outflows on QE3 exit 2013-06-24 11:15
'Short-term concentrated capital outflows' predicted 2013-04-03 23:42
Foreign funds outflow of ROK on risks 2013-04-03 11:02
Today's Top News
Poison dumpling suspect faces 10 years in jail
Beijing police arrests airport blast suspect
Man stands trial over poisoned dumplings
FM welcomes deal with EU on solar panel dispute
Major SOEs eye profits from abroad
Train collision injures dozens in Switzerland
7-year-old 'brain dead' after swimming lesson
Families of crash victims to sue Asiana in the US
Hot Topics
Lunar probe , China growth forecasts, Emission rules get tougher, China seen through 'colored lens', International board,
Editor's Picks
Education overhaul |
Carbon market helps cut emissions |
Attractive Cities for Foreigners |
Terraces on top of the world |
No summer relief for kindergarten |
Safety worries mount |