Feb 21 - Banks’ Position for Foreign Exchange Purchase Rebound after a Three-Month Slide

Source: People’s Bank of China, ChinaScope Financial (Data)

+       Purchase of foreign exchange by commercial banks increased for the first time in January to CNY 25.50 trillion, after declining for three straight months.

+       As of the end of the December, the scale of foreign exchange reserves in China was USD 3.18 trillion.

+       Related Data: Forex Purchase, Deposits, Loans

Although the net change in forex purchase was positive last month, it was only half of the 2011 average.

The growth of bank deposits continues to drop.

Other News Headlines:

n  Banks’ Position for Foreign Exchange Purchase Rebound after a Three-Month Slide

n  China’s 2011 Incremental Small Business Loans at CNY 193.5 Billion

n  Chinese Cinemas to Screen More U.S. Movies

n  China Unicom Sees Stable Growth in 3G Users


If you'd like to receive a daily e-mail update of ChinaScope Daily Dim Sum Newsletter, please contact us:newsletter@chinascopefinancial.com. If you'd like to try out ChinaScope Database, apply for a trial here