The People's Bank of China's (PBOC) Shanghai headquarters will strengthen supervision on abnormal cross-border capital flow and combat the influx of illegal funds such as "hot money," China Business News reported Thursday.

PBOC's Shanghai headquarters made the decisions at its foreign exchange management conference held recently in Shanghai.

At the conference, PBOC also said it will accelerate reforms in such fields as import and export verification system and capital project management, the newspaper said.