$3.4 trillion value of Chinese foreign exchange market transactions in May
BEIJING, June 16, 2017 (WAM) – The foreign exchange market in China maintained its general stability during the month of May, with transactions amounting to 3.4 trillion US dollars.
The Xinhua News Agency quoted Li Bin, Vice Chairman and spokesman of the National Foreign Exchange Commission of China, as saying that transactions related to abroad remained active during the past month, with the total cross-border receipts and payments by companies, individuals and other non-banking sectors reaching 1.5 trillion US dollars, an increase of 22 percent year on year.
Lee continued that the country’s foreign exchange market recorded transactions amounting to 3.4 trillion US dollars during the past month, without significant change compared to the same period last year.
Cross-border capital flows remained largely stable during May, with companies, individuals and other non-banking sectors recording net inflows of US$62.5 billion, an increase of nearly one percent from the previous month. Li said that banks recorded a foreign exchange settlement surplus of 35.8 billion US dollars, down 11 percent month-on-month.
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