China SAFE sees large amount of foreign inflows in 2016

FXStreet (Mumbai) - Chinese State Administration of Foreign Exchange (SAFE) expects large amount of foreign inflows in 2016 and feels the country has the ability to handle capital flow impact.

Key Quotes

FX reserves remain sufficient
Expects a current account surplus in 2016

Expects capital and financial account deficit in 2016

Outflows in 2015 were due to domestic banks and firms increasing offshore forex asset holdings