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China FX regulator says will fend off risks of cross-border capital flows

BEIJING, July 18 (Reuters) - China's foreign exchange regulator said on Tuesday it will fend off risks of cross-border capital flows, following a once-in-five-years top level financial work meeting on the weekend.

It will also crack down on irregularities such as underground banking, according to a statement posted on the website of the State Administration of Foreign Exchange (SAFE). (Reporting by Beijing Monitoring Desk; Editing by Sam Holmes)