Beijing, December 16, 2023 (Xinhua) – Official data issued by the National Foreign Exchange Authority last Friday showed net increases in foreign holdings of local bonds amounting to 33 billion US dollars during the month of November, the second highest number in the country’s history.
Wang Chunying, deputy director and spokeswoman of the aforementioned authority, said that cross-border capital within securities investments has resumed its flows, driven by the increasing desire of foreign capital to allocate to RMB bonds.
Wang noted that expectations and transactions recorded in China’s foreign exchange market remained generally stable last month, adding that companies remain “rational” in foreign exchange trading.
Wang added that net cross-border capital flow under trade in goods remained essentially flat.
Wang said that as favorable conditions outweigh unfavorable factors in China’s economic development, the country’s foreign exchange market has a more solid foundation to maintain steady operations.
2023-12-16 01:50:00
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