Flight of capital eases; currency exchange stable

China's cross-border capital outflow has slowed significantly since the start of this year, a senior official of the State Administration of Foreign Exchange said on Tuesday.

SAFE statistics show that foreign exchange reserves declined by $28.6 billion in February, significantly less than the $99.5 billion they dropped in January, said Wang Yungui, director of the policy and regulation department at SAFE, speaking at a news conference. The outflow declined by $107.9 billion in December.

Total foreign exchange reserves at the end of February stood at $3.2 trillion, he said.