Chinese banks' 2010 forex surplus tops $398b
Updated: 2011-01-28 14:37
BEIJING -- China's foreign exchange watchdog said Thursday that the surplus of Chinese banks' foreign exchange purchases to sales in client transactions increased 51 percent through 2010 to stand at $397.7 billion at year-end.
China's institutional and individual clients sold $1.33 trillion in foreign exchange to banks in 2010 while purchasing $932.7 billion, said the State Administration of Foreign Exchange (SAFE) in an online statement.
The statement noted the figures did not include banks' own forex transactions and interbank transactions.
The forex surplus in December 2010 totaled $51.5 billion, as clients sold $146.2 billion of foreign exchange, up 13 percent from November, while purchasing $94.7 billion, up 12 percent, it said.
Chinese banks received $1.89 trillion for their clients in overseas business in 2010 and paid $1.59 trillion to overseas business, it added.
The SAFE only began releasing monthly and quarterly data on bank foreign exchange transactions in 2010.
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