China
has uncovered $10bn (£6.1bn) worth of fake trades as part of a nationwide
crackdown on companies.
The
currency regulator said 15 fraud cases had been handed over to the police for
prosecution.
Companies
sometimes falsify transactions as a way of GETTING MONEY in and out of China.
"Fake
trade deals can do severe harm to ...the overall economy" said Wu Ruilin,
deputy head of the State Administration of Foreign Exchange (SAFE).
"They
not only increase the pressure of hot money inflows, but also provide illegal
channels for cross-border capital flows," he added.
Blame
has also been placed on
