March 24 – April 3, 2025

From March 24 to April 3, 2025, the course on Managing Capital Flows: Macroeconomic Analysis and Policies (MCF), jointly organized by the CICDC and State Administration of Foreign Exchange (SAFE), took place in Dalian. The course welcomed 39 participants from China, Kazakhstan, Indonesia, Vietnam, Thailand and Cambodia.

This course, presented by Mr. Mangal Goswami and Mr. Yunhui Zhao from the IMF’s Institute for Capacity Development, Thorvardur Tjörvi Ólafsson from the Monetary and Capital Markets Department, and Hoang The Pham from the Legal Department, explored capital flows' impact on growth, volatility, and crisis risk. It also covered balance of payments statistics, capital flow measures, determinants of capital flows, and their links to economic outcomes. Case studies of crises were included to illustrate policy failures. The course received positive interaction and high praise from participants through group discussions and practical exercises designed to consolidate their knowledge.

CICDC Director Mr. Hui He attended the closing ceremony and commented participants’ final group projects.