BEIJING, March 26 -- China's cross-border capital net inflows rose 38 percent year on year to a total of 55.1 billion U.S. dollars in the first two months this year, China's foreign exchange regulator said Thursday.

The surge reversed the capital net outflows which occurred between August and December last year, said Wang Yungui, an official of the State Administration of Foreign Exchange.

The foreign exchange settlement and sale of foreign-capital banks logged a total deficit of more than 25.4 billion U.S. dollars in the first two months.

Wang attributed the deficit to increasing holdings of U.S. dollar-denominated assets among enterprises and individuals instead of capital outflows.

Overall, there is no data available that supports predictions of an impending collapse of the Chinese economy or assertions of capital exodus, Wang said.