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China's Forex Deposits on Rise
Statistics from the People's Bank of China (PBOC) show that foreign exchange deposits in China' s domestic financial institutions maintained its growth momentum in January.
By the end of the month, the outstanding foreign exchange deposits were US$130.07 billion, up 24.5 percent from the same month last year. Within the month the forex deposits increased US$1.31 billion, a rise of 40 million dollars over the same month last year.
The outstanding corporate forex deposits were 45.85 billion dollars, down 350 million dollars from the end of last year; while the outstanding residents' foreign exchange deposits reached 74.93 billion dollars, up 31.9 percent from the same month last year, and such deposits increased 1.6 billion dollars within the month, up 150 million dollars over the same month last year.
By the end of January, the outstanding foreign exchange loans were 84.18 billion dollars, down 750 million dollars from the end of last year, according to the statistics.
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