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Net foreign exchange sales 'no problem'

China Daily | Updated: 2014-09-26 08:22

The State Administration of Foreign Exchange on Thursday sought to allay worries about potential short-term capital flight, saying that the latest foreign exchange figures partly reflect increasing bank deposits in foreign currencies.

The August statistics showed that Chinese banks, for the first time in 13 months, sold more foreign currencies than they bought.

"There hasn't been any substantial change in China's capital inflows or outflows. The gap in the data exists in the form of growing foreign exchange deposits," said Guo Song, director of the capital account management department at the SAFE.

Net foreign exchange sales 'no problem'

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