By Wang Jiamei in Shanghai (
Global Times)
16:40, January 28, 2013
China saw a noticeable rise in capital inflows during the end of last year as the nation's banks bought more foreign currency than they sold on behalf of their clients in December, leading to surpluses of $54.3 billion in foreign exchange in over-the-counter transactions, according to figures released by the State Administration of Foreign Exchange (SAFE) Friday.
The balance between purchases and sales of foreign currency by banks is one of the largest contributors to China's foreign exchange reserves as banks generally sell their settlement surpluses to the People's Bank of China (PBC) or buy foreign currency from the central bank to offset their deficits, Zhu Tian, a professor of economics from China Europe International Business School (CEIBS), told the Global Times Sunday.
December recorded the fourth straight month of net foreign exchange purchases, as well as the highest single-month purchase amount during 2012.
Meanwhile, it appears that bank clients in China were increasingly inclined to convert their foreign currency into the Chinese yuan in recent months, a trend which the SAFE explained in a statement posted on its website Friday was the result of several circumstances, including signs of stabilization in the Chinese economy, monetary easing policies in major economies overseas, subsiding expectations of the yuan's depreciation and the fast-tracking of approvals on quotas for the country's Qualified Foreign Institutional Investor (QFII) and Renminbi Qualified Foreign Institutional Investor (RQFII) schemes.
【1】 【2】 We recommend:
3D printing booth comes to Beijing Software maker shows its dexterity Davos 2013: Building confidence2013, the doomsday for entity shops? 2013, the doomsday for entity shops? HK starts to offer discounts for increasing customers Email|
Print|
Comments（Editor：马茜、梁军）
Increases the bookmark
twitterfacebookSina MicroblogdiggGoogleDeliciousbuzzfriendfeedLinkedindiigoredditstumbleuponQzoneQQ MicroblogRelated Reading
Capital inflow surges to emerging markets pose risks:IMFChina frets over rising capital inflow pressureChina faces capital inflow pressureCapital inflow to China shows signs of rebound Hot NewsChina Focus: High hopes on CPC for fairer incomesChina marks Soong Ching-ling anniversarySafety supervision a dangerous job in ChinaChina completes first drilling for deep ice core in AntarcticaXinjiang improves social stability after attacksPossible food struggle threatens China's urbanizationChina Exclusive: Shanghai plans pilot free trade zoneSpring Festival sales season kicks off across ChinaFolk culture of Changbai Mountains expressed by artists Ballets presented for migrant workers in Bazhou
本站仅提供存储服务，所有内容均由用户发布，如发现有害或侵权内容，请
点击举报。
