China to extend capital curbs to services

China is drafting rules to step up controls over the unauthorised inflow of capital through the services trade, following the adoption last week of similar rules for trade in goods, a government source said on Monday.
The State Administration of Foreign Exchange (SAFE) last week said that exporters would soon be required to park their export revenues in temporary verification accounts so officials can check that invoices are backed by genuine trade transactions and are not being padded.