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China banks’ forex settlement deficit expands in H1

Updated: Jul 23,2015 3:41 PM     Xinhua

BEIJING — China continued to see a deficit in its foreign exchange settlement in the first half of the year with expanded volume from that in the second half of 2014, official data showed on July 23.

Chinese lenders bought $866.5 billion worth of foreign currency and sold $971.9 billion, resulting in a net sale of $105.4 billion, said Wang Chunying, spokeswoman with the State Administration of Foreign Exchange.

The forex settlement deficit stood at $62.5 billion in the second half of 2014 and China continued to see a surplus in its foreign exchange settlement in 2014, but the volume narrowed significantly, indicating easing capital inflows.

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