Yuan funds for foreign exchange rise

Email|Print|Comments       twitter     facebook     Sina Microblog     reddit    

China's yuan funds outstanding for foreign exchange rose for a second month in September, indicating the country is seeing more capital inflow, according to official data released Monday.

China's total yuan funds outstanding for foreign exchange reached 27.5 trillion yuan (4.5 trillion U.S. dollars) at the end of September, up 126.4 billion yuan from August, according to figures from the People's Bank of China, China's central bank.

The funds, a major indicator of international capital movement into or out of China, declined in both June and July, raising concerns of capital outflow.

The stabilization of China's economy is believed to be a major reason behind the increase.

Data from the National Bureau of Statistics showed that China's economy expanded by 7.8 percent in the third quarter, up from 7.5 percent in the second quarter.

The purchasing managers' index for the manufacturing sector rose for a third month in September to a 17-month high of 51.1 percent, signaling continued expansion in the manufacturing sector.

• China Exclusive: Chinese yuan gains popularity among global traders
• China yuan strengthens to new high against USD
• Yuan gains the most in 20 years vs US dollar
• Canton Fair to promote yuan use
• China's new yuan loans leap Jan.-Sept.

We Recommend

• No news of survivors in Lao Airlines crash
• Five fighters in flight training
  
• London mayor hails free trade, subway system on China tour
• Chalk it up to great courage
• Tibetan girl helps mobilize volunteers onlin
• Photo story: A day in the life of a car model
• Chinese screen goddesses from Beijing Film Academy
• Weekly Sports Photos
• World's most amazing yacht on display in Guangzhou