Yuan funds for forex decline US$8.2b
Print Edition
CHINA’S central bank saw its yuan funds outstanding for foreign exchange drop 53.7 billion yuan (US$8.2 billion) to 23.7 trillion yuan in May, data showed yesterday.
The fall was below the 54.4 billion yuan decline in April, suggesting less pressure of capital flight.
As the yuan is not freely convertible under the capital account, the People’s Bank of China has to purchase foreign currency generated by China’s trade surplus and foreign investment in the country, adding funds to the money market. Such funds are an important indicator for foreign capital flow in and out of China as well as domestic yuan liquidity.
Concerns about capital outflows had been on the rise as the economy slowed, and the Chinese currency had fallen since China revamped its forex mechanism last year.
Stability in international financial markets and positive signs in the domestic economy have reduced the pressure of capital outflow since the start of this year.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
