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China Daily | Updated: 2015-06-19 07:36
Government and policies
China banks become net forex buyers
China's banks turned into net buyers of foreign exchange on behalf of their clients in May for the first time in nine months, signaling capital flows are stabilizing. The lenders purchased 24.5 billion yuan ($3.95 billion) more overseas currencies than they sold last month, the State Administration of Foreign Exchange said in a statement on Thursday. A net $20 billion of capital flowed into China in the first five months, a SAFE official said at a media briefing in Beijing on Wednesday.
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