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Xinhua Silk Road
Economy

Chinese banks log forex settlement surplus in January

February 22, 2021


Abstract : China's commercial banks saw a net forex settlement surplus of 264.4 billion yuan (about 40.8 billion U.S. dollars) in January, the country's forex regulator said on Saturday.

BEIJING, Feb. 20 (Xinhua) -- China's commercial banks saw a net forex settlement surplus of 264.4 billion yuan (about 40.8 billion U.S. dollars) in January, the country's forex regulator said on Saturday.

Forex purchases by banks stood at 1.29 trillion yuan last month, while sales came in at around 1.03 trillion yuan, data from the State Administration of Foreign Exchange (SAFE) showed.

The country's forex market was generally stable last month, said Wang Chunying, deputy director and spokesperson of SAFE, noting that sustained and steady domestic economic recovery and the two-way opening-up of the financial market have led to more active cross-border capital flows.

Looking ahead, China's forex market is expected to maintain steady operations, as the foundation for the country's sustained and healthy economic development remains unchanged despite a complex external environment and uncertainties in global economic recovery, said Wang. Enditem

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Keyword: forex settlement surplus

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