波多野47部无码喷潮在线,精品无码高清一区二区三,一本一道久久a久久精品综合麻豆

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Pressure easing on foreign exchange sales

By Wang Yanfei | chinadaily.com.cn | Updated: 2017-07-18 11:08

China's central bank continued to see net foreign exchange sales in June as capital flight pressure persists, but a mild month-on-month increase shows that the pressure has largely eased compared to the beginning of the year, data showed on Monday.

The People's Bank of China sold a net 34-billion-yuan worth of foreign currency in June, up from 29 billion yuan the previous month, according to data released on Monday.

It's a sharp drop compared to December when 317.8 billion yuan worth of foreign currency was sold.

Xie Yaxuan, chief economist with China Merchants Securities, said the recent mild fluctuation in the data shows that the central bank has not intervened much to support the yuan's exchange rate as the yuan became steadier in recent months.

"Although a month-on-month increase of net forex sales suggests capital outflow pressure persists, it has largely eased compared to the beginning of the year," Liu Jian, an economist with research institute of Bank of Communications, said.

He attributed the monthly rise in June to seasonal factors such as increased demand of purchase of foreign exchange for summer holidays.

The data is expected to decline over the coming months, supported by a strong economic recovery beating market expectations.

China witnessed 6.9 percent growth in the second quarter.

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US