ChinaCracksDownonHotMoneyChina'sforeign-exchangeregulatoronTuesdayannouncedmeasurestofurthercrackdownonspeculativehot-moneyinflows,withseniorofficialsinthecountryexpressingconcerninrecentdaysthatlooseU.S.monetarypolicymightsendexcessiveamountsofmoneyintoemergingmarkets.TheStateAdministrationofForeignExchangemeasuresdon'tappearrevolutionary,andarelargelyfocusedonstrengtheningoversightofinflowsandimplementationofexistingrules.ButtheyreflectconcerninBei激ngthatexcessiveliquiditycouldcauseinflationandassetbubbles,andcomebeforethesummitthisweekofleadersfromtheGroupof20industrialanddevelopingnationsinSouthKorea.AlsoonTuesday,China'scentralbankliftedtheyieldonone-yearbillssoldinitsregularopenmarketoperation,fuelingexpectationsBei激ngmighttightenmonetarypolicyfurtherafterarecentinterest-rateincrease.That'sevenasfurthertighteningcouldintheorypushtheyuanupandspurmoreinflows,andislikelytobeareflectionofconcernaboutinflationandassetbubbles.ThePeople'sBankofChinasaidinastatementitsold32billionyuan($4.81billion)inone-yearbillsat2.3437%,upfromarateof2.2913%onsame-tenorbillsitsoldinthepasttwoweeks.Theyieldhadstayedat2.0929%forfourmonthsbeforerisingto2.2913%inthewakeofthePBOC'sOct.20interestrateincrease.SAFEsaidinastatementonitswebsiteitwillstrictlymanageasfortheuseofshort-termforeigndebtbyfinancialinstitutions,andstrictlypreventbanksfromexceedingtheiras.ThemoverepresentsChina'seffortsto'reasonablyguidecross-borderfundsflows,copewithirregularinflowsofhotmoney,andsafeguardChina'seconomicandfinancialsecurity,'SAFEsaid.HotmoneyisspeculativecapitalthatevadesregulatorsinChina,whichkeepstightcontrolsonitscurrency.TheregulatorwillalsostrengthentheoversightoffundrepatriationbyChinesecompanieslistedoverseas,andofinboundinvestmentbyoffshoreinvestors,itsaid.SAFEdidn'textrapolateinitsstatementonitsreasonsfordoingso,butChineseofficialshaveraisedconcernsinrecentdaysthatexcessgloballiquiditybroughtonbytheU.S.FederalReserve'sfurtherroundofquantitativeeasingwillcreatedestabilizinghotmoneyinflowsintoChina.China'syuanroseagainsttheU.S.dollarinavolatilesessionTuesday,partlybecausetraderswereponderingwhatfurtheractionmightbetakenfollowingSAFE'sannouncementandthePBOC'smoveonbills,traderssaid.Thedollarwasaslowasabout6.6424yuanaroundmiddayU.S.tradingTuesday,downsharplyfrom6.6781yuan---本文来源于网络，仅供参考，勿照抄，如有侵权请联系删除---lateonMonday.OnFriday,PBOCGov.ZhouXiaochuansaidChinacanusecapitalcontrolstolimitinflowstoanextent,butthatsomedegreeofinternationalarbitrageisinevitableduetotheinterestrategapbetweenChinaandtheU.S.,andexpectationsonexchangeratefluctuations.TherecentcommentsfromChinaofficialshaveraisedexpectationstheFed'sactionswillbeatopicfordiscussionattheupcomingG-20summitinSeoul,asothereconomiesinAsiaalsograpplewithupwardpressureontheircurrenciesasaresultofinflows.It'sunclearthoughhowformalanycomplaintsmaybeatthesummit.OfficialsinBei激ngonTuesdayalsourgedgloballeaderstotakemeasurestokeeptheU.S.dollarmorestable,echoingrecentconcernsamongholdersofreservecurrenciesthatweaknessintheU.S.dollarmayleadothernationstotryandrestraingainsintheirdomesticcurrencies.'TheworldneedstheU.S.dollar,whichisstillakeyreservecurrency.Thereisnodoubtonthis,butwehopetheU.S.dollarcouldremainbasicallystable,'DaiXianglong,chairmanoftheNationalCouncilforSocialSecurityFund,saidataforum.Chinaisamaj...