Chinese banks report forex settlement deficit in January

BEIJING -- China's commercial banks saw a forex settlement deficit of $45.3 billion in January, official data showed on Tuesday.

Forex purchases by banks reached $181.5 billion, while sales stood at $226.8 billion, data from the State Administration of Foreign Exchange (SAFE) showed.

China's foreign exchange market has been operating in a steady and orderly fashion since the start of the year, the SAFE said in a statement.

Looking ahead, the market has solid foundations and conditions to continue its stable performance, the SAFE said, adding that implementation of the more proactive and impactful macro-policies are set to further consolidate the sound economic momentum and shore up the country's foreign exchange market.

SAFE data also showed that China's net cross-border capital inflow in goods trade reached $70 billion last month, a record high for the period.