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Foreign settlement by banks hits USD 964.5 bln in 1st half of year


07-23-2014 12:14 BJT

China has increased its capabilities for foreign exchange management in the first half of 2014. An official from China’s State Administration of Foreign Exchange said in a press briefing on Wednesday morning, foreign settlements by banks hit more than 960 billion US dollars.

"In the first half of the year, excluding such factors as the exchange rate, foreign settlement by banks grew by six percent year on year. Sales were up by 0.4 percent. With a 36 percent increase in surplus. Foreign-related income through banks grew by 15 percent year on year. Payments were up by 20 percent. With a 31 percent decrease in surplus," said Guan Tao, head of Balance Payment Dep't, China State Admin. of Foreign Exchange.

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