Capital flows out at faster pace
By Wang Bo | China Daily | Updated: 2009-01-16 07:45
China experienced continuous capital outflow in the fourth quarter of 2008, with the scale expanding in a "larger-than-expected" pace in December, said a report released by the Chinese Academy of Social Sciences (CASS).
"The capital outflow was much severe in December," said Zhang Ming, a CASS economist and the report's author.
More than $25 billion fled China in December, up from $17.5 billion two months ago, said Zhang.
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