LINE

Text:AAAPrint
Economy

Chinese banks' forex sales narrow in April

1
2016-05-17 08:58Xinhua Editor: Gu Liping

Chinese banks saw 23.7 billion U.S. dollars of net foreign exchange sales in April, down from March, official data showed Monday.

Chinese lenders bought 115 billion U.S. dollars' worth of foreign currency last month and sold 138.7 billion dollars, the State Administration of Foreign Exchange (SAFE) said in a statement.

The amount has narrowed from the 36.4 billion U.S. dollars seen in March and 33.9 billion U.S. dollars in February, suggesting the pressure of capital outflow is easing, SAFE explained in a separate statement.

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.

But resumed 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.

In the foreseeable future, China's growth will stay in a reasonable range, which will fundamentally support the stable flow of cross-border capital, the SAFE predicted.

  

Related news

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2018 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.