China saw a net US$20 billion in capital inflows for the year through May, Bloomberg reported, citing a statement from Wang Yungui, director of the general affairs department at the State Administration of Foreign Exchange at a press briefing in Beijing. The change from outflows suggests stabilization in the leakage of funds, one of the driving factors behind the central bank’s moves to boost domestic liquidity. China’s banks also bought a net US$1.3 billion of foreign currency in May, turning a tide of net sales that had lasted for eight months.
You must log in to post a comment.
Yes, I would like to receive emails from China Economic Review. (You can unsubscribe anytime)
Copyright © 2018 SinoMedia Group Limited All rights reserved