Chinese banks report forex settlement surplus in April

0 Comment(s)Print E-mail Xinhua, May 22, 2021
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China's commercial banks saw a net forex settlement surplus of 14.4 billion yuan (about 2.24 billion U.S. dollars) in April, the country's forex regulator said on Friday.

Forex purchases by banks stood at 1.24 trillion yuan, while sales came in at 1.23 trillion yuan last month, according to the State Administration of Foreign Exchange (SAFE).

In the first four months, China's commercial banks logged a net forex settlement surplus of 587.9 billion yuan.

China's forex market was generally stable last month, with more balanced supply and demand, said Wang Chunying, deputy director and spokesperson of SAFE, noting that the net inflow of direct investment into the country maintained steady growth.

The net increase of domestic stocks and bonds held by foreign investors amounted to 19.5 billion U.S. dollars in April, up 3 percent year on year, SAFE data showed.

The stable growth momentum of the Chinese economy and the evolving new growth drivers will lay a solid foundation for balance in cross-border capital flows and international payments, Wang said. 

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