Domestic Forex Deposits Keep Rising

China's total domestic foreign exchange deposits reached US$120.43 billion by the end of September, an increase of 22.8 percent on a yearly basis, according to statistics released by the People's Bank of China Tuesday.

In the January-September period this year, China's foreign exchange deposits added up to US$17.23 billion, 7.41 billion more than the same period of last year.

The outstanding amount of corporate foreign exchange deposits up to the end of September reached US$43.54 billion, up 11.3 percent on an annual basis, and that for the first nine months this year amounted to US$3.68 billion, 3.03 billion more than a year earlier.

According to the statistics, the outstanding amount of residents' foreign exchange deposits stood at US$68.33 billion at the end of September, up 32.9 percent year on year, and that for the first three quarters added up to US$12.98 billion, up US$2.8 billion.

By the end of September, the outstanding amount of foreign exchange loans went down by US$4.02 billion from the year's beginning to US$64.99 billion, including US$22.62 billion of short- and medium-term loans and US$24.32 billion of medium- and long-term loans.

(People's Daily 10/18/2000)

In This Series

China to Lift Control Over Foreign Currency Lending Rate

Renminbi to Remain Stable Within 5 Years



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