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China's Forex Deposits Up 4.8 Billion USD
Statistics released Friday by the People's Bank of China show that by the end of November, foreign exchange deposits in China's domestic financial institutions reached US$127.44 billion, up 25.2 percent from the corresponding period last year.
In the first 11 months of this year, foreign exchange deposits increased by a total of US$24.24 billions, or US$10.76 billion more than for the corresponding period last year. In November alone forex deposits increased by US$4.75 billion.
By the end of November, corporate foreign exchange deposits
totaled US$46.92 billion, up 17.9 percent from the same period last year. In the first 11 months of this year corporate forex deposits increased by US$7.05 billion.
Meanwhile, residents' foreign exchange deposits reached US$71.52 billion, up 31.8 percent, and the increase in the first 11 months was US$16.17 billion.
By the end of November, foreign exchange loans by domestic financial institutions totaled US$64.1 billion, down US$4.67 billion in constant terms. Short term loans made up US$22.23 billion of the total while medium and long term loans reached US$23.88 billion.
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