Oct 23, 11:53 AM

China's Forex Market Sees $30.27 Trillion Turnover, 10.1% Increase, Amid Record Fund Sales of Sovereign Notes

In September, China's foreign exchange market experienced significant activity, with a turnover of US$30.27 trillion in the first three quarters of 2024, reflecting a 10.1% year-on-year increase. This surge comes as global funds rapidly divested from Chinese sovereign notes, marking the fastest pace on record, as investor interest shifts towards a rebounding stock market. The September foreign exchange settlement data indicates a notable reversal from the previous quarter, where state banks were nearly balancing their buying and selling. Additionally, China's cross-border capital has returned to a net inflow during this period, signaling a positive trend in foreign-related income for banks involved in these transactions.

#China #Chinese

Written with ChatGPT (GPT-4o mini).

Sources

China News 中国新闻网@Echinanews
2 years ago
China's cross-border capital has returned to a net inflow during the first three quarters of the year, according to foreign exchange data released by the State Council Information Office on Tuesday. Banks handling transactions for clients recorded foreign-related income of… https://t.co/kz440s2LVH
Zheng Zeguang@AmbZhengZeguang
2 years ago
China's foreign exchange market saw a turnover of US$30.27 tn in the first 3 quarters of this year, up 10.1% y-o-y. https://t.co/a0lYnVFN4Q
InfoseekChina@InfoseekChina
2 years ago
China's forex market sees active trading in first three quarters https://t.co/qtbjgdv21o https://t.co/YjJZjy5Iya

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