21 February 2020

September funds outstanding for forex hit record, paper says

China added 126.36 billion yuan (US$20.58 billion) of funds outstanding for foreign exchange, a record high this year, suggesting increased capital inflows, People’s Daily reported Wednesday, citing central bank data. It was the second straight month of net increase against growth of 27.32 billion yuan in August, the report said. A delay in winding down quantitative easing in the United States and a  pick-up in China’s economic growth in the third quarter have been attracting capital to the mainland, analysts were quoted as saying. Regulators have been urged to strengthen market supervision and curb hot money inflows to reduce financial risk, the report said.

– Contact HKEJ at [email protected]