China Gets Big Increase in Foreign Exchange Deposit

The first half of this year saw big growth in export volume and foreign exchange deposit, according to July 20 statistics from the People's Bank of China.

By the end of June, the balance of foreign exchange deposits by Chinese-funded financial institutions in the country had reached US$ 113.68 billion, an increase of 23.3 percent over the same period last year. It totally increased by US$ 10.48 billion, 6.59 billion more than in last year's same period.

In June, there was a rise of US$ 2.59 billion in foreign exchange deposits, 1.44 billion more than that in the same period of the previous year. The balance of enterprise foreign exchange deposits stood at US$ 41.93 billion, 11.1 percent increase. The balance of residents' foreign exchange deposits hit US$ 63.42 billion, a 34.9 percent rise.

People's Daily Online --- http://www.peopledaily.com.cn/english/