China's foreign exchange market reports steady operations in April

BEIJING -- China's foreign exchange market saw generally stable operations in April with a net inflow of cross-border capital, the State Administration of Foreign Exchange said on Monday.

Last month, China's net inflow of cross-border capital from the trade of goods totaled $64.9 billion, reflecting the resilience of the country's foreign trade, said Li Bin, deputy head of the administration.

Foreign holdings of domestic bonds increased by a net total of $10.9 billion last month as foreign investors showed growing interest in RMB-denominated assets, Li said.

Market expectations remained stable, while China's foreign exchange supply and demand were broadly balanced, according to Li.

In April, foreign exchange purchases by banks increased 12.8 percent month-on-month, while sales increased 13.9 percent from March.

Going forward, the foundation for the stable operation of the foreign exchange market will continue to strengthen as China's economy is expected to maintain its positive trajectory following policies to boost market confidence and increase support for the real economy.