China says will stick to "going out" policy amid capital outflow concernsNovember 28, 2016 - 11:22 AMT PanARMENIAN.Net - China said on Monday, November 28 it will stick to its opening up policy and "going out" strategy on investment even while a slide in the yuan to 8-1/2-year lows revives worries about capital fleeing the country, Reuters reports. Officials from the National Development and Reform Commission, the Ministry of Commerce, the People's Bank of China and the State Administration of Foreign Exchange said the country will continue to encourage healthy development of outbound investment, the official Xinhua news agency reported. The Wall Street Journal reported on Friday that China plans to tighten controls on companies looking to invest abroad in an effort to slow surging outflows. While Beijing has been busily damming up official channels for money to leave China, more funds than ever are leaking out through shady means as investors flee the country's slowing economy and weakening currency, financial industry executives say. The yuan has fallen more than 6 percent versus the dollar this year, but has been relatively stable against a basket of currencies. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Armenia, Turkey discuss restoration of historic bridge The meeting took place on May 17 in Ashgabat on the sidelines of an international conference of ministers of culture. India wants Armenia’s proposals on use of Chabahar port India is expecting proposals from Armenia regarding the use of Chabahar port in Iran, Indian ambassador says. EU welcomes Armenia-Azerbaijan “progress” The EU has welcomed “progress” made in the framework of the Armenia-Azerbaijan border delimitation process. Belarus opposition leader slams Lukashenko for Karabakh trip Belarusian opposition politician Sviatlana Tsikhanouskaya has harshly criticized the visit of Lukashenko to Karabakh. |