China net capital inflows hit US$20b in first 5 months

Beijing

CHINA saw net foreign capital inflows in the first five months of the year, suggesting stabilisation in a leakage of funds which had been among reasons behind the central bank's efforts to boost liquidity.

A net US$20 billion in capital flowed into China in the first five months of the year, according to an official at the State Administration of Foreign Exchange (Safe) in Beijing on Wednesday. China's banks bought a net US$1.3 billion of foreign currency in May, reversing net sales in the previous eight months.