November 23, 2016 / 1:46 AM / 3 years ago

China says will crack down on capital flight in FTZ reform drive

SHANGHAI, Nov 23 (Reuters) - China’s central bank will crack down on capital flight and closely monitor abnormal capital flows as it pushes financial reforms in Shanghai’s free trade zone, an official said on Wednesday.

Zhang Xin, deputy head of the People’s Bank of China Shanghai headquarters, said the central bank would step up anti-money laundering, and “under the current circumstances, will strengthen crackdowns on foreign currency flight and step up monitoring abnormal capital flows.” (Reporting by Samuel Shen and John Ruwitch; Editing by Kim Coghill)

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