"Hot money" is a short-term speculative fund that flows rapidly in the international financial market only for the pursuit of the highest return and the lowest risk.

"Hot money" is only short-term speculative capital that flows rapidly in the international financial market in pursuit of the highest return with the least risk.

In recent years, as China's economy continues to improve, domestic investment opportunities increase and asset prices continue to rise, China is naturally a hot spot for the inflow and outflow of "hot money", and its scale is still showing an expanding trend.

In recent years, as China's economy continues to improve, domestic investment opportunities increase and asset prices continue to rise, China is naturally the hometown of the inflow and outflow of "hot money", and its scale is also showing an expanding trend.

This has greatly affected the stability of China's macro-economy, increased the financial risk of macro-liquidity, and had an impact on asset prices and RMB exchange rate.

This has caused a huge impact on China's macroeconomic stability, increased the financial risks brought by macro liquidity, and impacted asset prices and RMB exchange rate.

For example, China's stock market and property market have experienced unusually large fluctuations.

For example, there have been more unusual fluctuations in our stocks and real estate.

"Hot money" has increasingly become a topic of concern to all sectors of society.

"Hot money" has increasingly become a concern of all sectors of society.

China's relevant laws, regulations and systems are still not perfect, and it is difficult to cope with the gradual diversification and concealment of the inflow and outflow of "hot money".

China's relevant laws, regulations and systems are still far from perfect, and it is difficult to cope with the gradual diversification and concealment of the inflow and outflow of "hot money".

This paper analyzes the inflow and outflow of "hot money" and its influence on China's economy.

This paper analyzes the inflow of "hot money" and its impact on the economy.

In order to make "hot money" serve China's economy reasonably and healthily, and provide theoretical reference for establishing a financial stability monitoring and early warning system in regulatory countermeasures.

In order to make "hot money" serve the reasonable health of China's economy and provide theoretical reference for establishing a financial stability monitoring and early warning system on regulatory measures.

Keywords: short-term speculative financial risk, macroeconomic stability, RMB exchange rate

[Keywords:] short-term speculative financial risk RMB exchange rate macroeconomic stability