In fact, this saying is now so commonplace that it is impossible for me to trace its origins. Over the years, countless variants have been invented. If you look it up on the internet you will find that the same has been said about Germany, China and many other countries.
On the other hand, China sterilised capital inflows through issuance of central bank bills apart from using other instruments like reserve requirements, differentiating prudential treatment of banks based on capital strength, etc.