Chinese banks' net forex sales rise in November

Chinese banks continued to see net foreign exchange sales in November, and the volume expanded in a sign of rising capital outflows.

Chinese lenders bought 117.9 billion U.S. dollars worth of foreign currency last month and sold 151.3 billion dollars, resulting in a net sale of 33.4 billion dollars, the State Administration of Foreign Exchange said in a statement Friday.

The amount has increased from the 14.6 billion dollars seen in October, suggesting the pressure of capital outflow is rising. Endi