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China's Domestic Forex Deposits On Rise
China's domestic foreign exchange deposits increased US$3.32 billion in July, US$2. 59 billion more than the year-ago period, according to statistics released in Beijing Tuesday by the People's Bank of China ( PBOC).
In the past seven months foreign exchange deposits saw an accumulated increase of US$13.8 billions, US$9.18 billion more than the same period last year.
By the end of July, the outstanding amount of foreign exchange deposits reached US$117 billion, up 25.9 percent from the same period last year.
In July corporate foreign exchange deposits increased US$1.57 billion, which is US$2.06 billion more than the year-ago period. In the first seven months corporate foreign exchange deposits increased a total of US$3.63 billion, US$4.85 billion more than the same period last year.
By the end of July, the outstanding amount of corporate foreign exchange deposits reached US$43.5 billion, up 16.8 percent from the year-ago period.
In July, residents' foreign exchange deposits increased US$1.67 billion, US$330 million more than the same month last year. In the first seven months such deposits increased a total of US$9.74 billion, US$2.64 billion more than the year-ago period.
By the end of July, the outstanding amount of residents' foreign exchange deposits reached US$65.09 billion, up 17.6 percent from the same period last year.
By the end of July, the outstanding amount of foreign exchange loans was US$67.5 billion, US$230 million less than the previous month in constant terms.
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