Foreign equity investors cautious
Print Edition
China’s financial institutions attracted the least foreign equity investment in more than a year in the second quarter amid a slower inflow of foreign capital.
The institutions, including banks, brokerages and insurers, attracted a total of US$442 million in such investment from April to June, nearly a fourth of the first quarter’s total and the lowest since authorities started compiling the data last year, the State Administration of Foreign Exchange said yesterday.
Earlier data showed the People’s Bank of China, the central bank, and commercial banks sold a net 41.2 billion yuan (US$6.7 billion) worth of foreign exchange in June, the first net sales this year.
SAFE said in a July statement that the inflow of foreign capital slowed in May and June.
Meanwhile, Chinese banks, securities and insurance companies spent a net total of US$135 million in outbound equity investments in the second quarter, sharply down from the first quarter’s US$2.41 billion as they withdrew a record US$1.29 billion worth of investments from foreign companies, SAFE said yesterday.
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