Deficit hits 647b yuan in first half

Cross-border capital flows are becoming more balanced despite high volatility, authority says

The country saw intensified net capital outflow in the first six months as the foreign exchange settlement deficit increased, according to official data released on Thursday.

Chinese banks bought foreign exchange worth 5.31 trillion yuan ($855 billion) in the first half and sold the equivalent of 5.96 trillion yuan, resulting in a net sale of 647.4 billion yuan, the State Administration of Foreign Exchange said. This compares with a 383.8 billion yuan deficit in the second half of last year.