China commercial banks' net forex sales US$109.2b in September

[BEIJING] China's commercial banks sold a net US$109.2 billion of foreign exchange in September settlements, the foreign exchange regulator said on Thursday, compared with $43.5 billion in August.

In January-September, commercial banks had net foreign exchange sales of US$301.5 billion in settlements, the regulator said on its website.

China is not seeing capital flight following recent falls in foreign exchange reserves, Wang Xiaoyi, deputy head of the State Administration of Foreign Exchange (SAFE) told a news conference in Beijing that coincided with the release of the statement, adding that a recent decline in reserves was within a controllable range.

China is confident in keeping international payments and receipts balanced in the future, Wang said, adding that he saw no basis for the yuan to continue to depreciate.

REUTERS