Foreign cash flows into China
Source: Xinhua |
July 26, 2011, Tuesday
|
Print Edition
Print Edition
CHINA'S foreign exchange watchdog said yesterday Chinese banks' foreign exchange surplus from bank-to-client transactions reached US$273.7 billion in the first half of this year.
During this period, institutional and individual clients sold US$788.2 billion in foreign exchange to banks while purchasing US$514.4 billion, according to the State Administration of Foreign Exchange.
More foreign currencies were sold than bought through Chinese banks over May and June as the yuan continued to appreciate. In the first half of this year, overseas business-related proceeds from the banks' clients totaled US$1.09 trillion while payments stood at US$916.6 billion, a surplus of US$177 billion.
Last year, foreign exchange surpluses created through Chinese banks' transactions with domestic clients increased 51 percent year-on-year to reach US$397.7 billion.
During this period, institutional and individual clients sold US$788.2 billion in foreign exchange to banks while purchasing US$514.4 billion, according to the State Administration of Foreign Exchange.
More foreign currencies were sold than bought through Chinese banks over May and June as the yuan continued to appreciate. In the first half of this year, overseas business-related proceeds from the banks' clients totaled US$1.09 trillion while payments stood at US$916.6 billion, a surplus of US$177 billion.
Last year, foreign exchange surpluses created through Chinese banks' transactions with domestic clients increased 51 percent year-on-year to reach US$397.7 billion.
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