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Gold/Mining/Energy : Gold Price Monitor

GDXJ 93.03

+3.0%

Nov 7 4:00 PM EST

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To: Jim McMannis who wrote (69297)	5/16/2001 9:08:40 PM
From: Ahda	Read Replies (1) of 116753

special.scmp.com ECONOMY Increased confidence slows capital flight Morgan Stanley data reflects stability of mainland currency CHRISTINE CHAN Next Story -------------------------------------------------------------------------------- China saw a sharp reduction in capital flight in the past two years, helped by an improved domestic environment and robust confidence in the mainland economy, according to Morgan Stanley. Morgan Stanley economist Denise Yam Wing-yan believed that last year's capital flight reached US$5.9 billion - or 8.45 per cent of the country's total inflow of funds for the year. The level represents a huge drop from 1998's US$54.6 billion and US$32.2 billion in 1999 when capital flight "was significant". Ms Yam said the trend showed that more capital inflows were being kept within China's financial system, reflecting growing confidence among Chinese on the economy. "This is a positive message about the mainland economy and the stability of the Chinese currency," she said.

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