SAFE takes a firm stance to counter risks

China's foreign exchange regulator is maintaining a firm stance on freeing cross-border capital investments amid the acceleration of financial opening-up, while remaining cautious about potential shocks from external financial instability.

The country's international payments under the current account recorded a $28.2 billion deficit in the first quarter, due to seasonal factors and faster growth of imports than exports, compared with a surplus of $62.3 billion a quarter earlier and a total surplus of $164.9 billion for the whole year of 2017, according to State Administration of Foreign Exchange data released on Friday.

It also showed net inflows of cross-border capital for the fourth consecutive quarter, along with a net inflow of foreign direct investment valued at $68.2 billion, an increase of 110 percent since a year earlier.