China central bank foreign-exchange funds rise in July
Updated: 2013-09-03 19:23
By Yang Ziman (chinadaily.com.cn)
|
||||||||
The funds outstanding for foreign exchange in the People's Bank of China, the central bank of the country, registered 1.9 billion yuan ($310 million) in growth in July after the decline in June, according to the bank's latest balance.
The growth is still a far cry from the hundreds of billions' of yuan increase in the first five months.
The funds outstanding for foreign exchange, an indicator of capital inflow, stood at 25 trillion yuan as of late July, increasing by 1.3 trillion yuan from the beginning of the year, reflecting the huge capital influx in the hope of renminbi appreciation.
The capital inflow slowed down in June with 9.1 billion yuan's decrease in the funds.
The slowdown is caused by the State Administration of Foreign Exchange's restriction of foreign exchange inflow in May, said Xie Yaxuan, analyst with China Merchants Securities Co Ltd, to Shanghai Dazhihui Co, a financial information and software provider.
Moreover, commercial banks held $9.4 billion in the purchase of foreign exchange in July, reducing the exchange settlement with the central bank, Xie added.
- Fewer Chinese students apply to US graduate schools: report
- Technology transfer is a focus
- Syrian refugees exceed 2m
- Energy partners boost gas supplies
- San Francisco-Oakland bridge opens
- Microsoft in $7.2b deal for Nokia handset biz
- Syrian refugee numbers swell to 2m: UN
- Federer knocked out of US Open by Robredo
Most Viewed
Editor's Picks
Choosing a sailor's life |
Private push |
Tin city explores economic shift |
Caught in the Web of rumor and innuendo |
Urban push |
Righting the wrongs of patent rights |
Today's Top News
Police name attacker who took boy's eyes
Fewer Chinese apply to US graduate schools
Energy partners boost gas supplies
Japan urged to face history
'Diamond decade' for China, ASEAN
State asset head sacked from post
C-section vs natural birth
Guideline issued to strengthen teachers' ethics
US Weekly
Geared to go |
The place to be |