China's foreign exchange market reports steady operations in May

 China's foreign exchange market saw stable operations in May, with a net inflow of cross-border capital, the State Administration of Foreign Exchange said on Tuesday.

Last month, China's non-banking sectors, including enterprises and individuals, recorded a net cross-border capital inflow of 33 billion U.S. dollars, according to data released by the administration.

The country's net inflow of cross-border capital from the trade of goods remained at a high level, while foreign investors increased their holdings of domestic stocks compared to the previous month, said Li Bin, deputy head of the administration.

Net capital outflows related to areas such as the trade of services and outbound direct investment remained generally stable, Li said.

In May, foreign exchange purchases completed by banks totaled 192.7 billion U.S. dollars, while sales totaled 181.4 billion U.S. dollars.

Market expectations remained stable, with banks registering a foreign exchange settlement surplus, Li said.

China's economy is performing steadily and exhibiting growth momentum, which will continue to provide solid support for the sound operations of the foreign exchange market, Li said. ■