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Stable start for foreign exchange market

By Zhou Lanxu | chinadaily.com.cn | Updated: 2024-02-24 00:34

China's onshore bond market saw a net increase in foreign holdings of 27 billion yuan ($3.75 billion) in January, keeping relevant capital inflow in record-high territory, the State Administration of Foreign Exchange said on Friday.

Meanwhile, net capital inflows to China via trade in goods increased by 7 percent month-on-month and by 10 percent year-on-year last month, SAFE said.

"The country's foreign exchange market got off to a stable start, with cross-border capital flows generally balanced," said Wang Chunying, deputy head of SAFE.

Nevertheless, China reported a net foreign exchange settlement deficit in January, with the country's foreign exchange settlement and sales by banks standing at $204.3 billion and $214.1 billion, respectively, indicating a deficit of about $9.8 billion, according to SAFE.

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