China beefs up inflow monitoring amid soaring trade surplus

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BEIJING, June 7 (Xinhua): China will increase monitoring of money inflows and banks' foreign currency holdings following a surge in the current account surplus in 2007.

A trade surplus will continue to affect the balance of payments in 2008, but restructuring is starting to take off and will continue, the State Administration of Foreign Exchange (SAFE) said in a report released.

The current account surplus, the broadest measure of trade and investment inflows, widened 47 per cent year-on-year to 371.8 billion US dollars in 2007.