In the face of the outflow pressure of funds, the largest outflow in recent years

(Beijing Comprehensive News) China's cross -border capital outflows have intensified. Capital and financial accounts and service trade under frequent accounts have appeared in August, which have rarely rare outflows in recent years.

Bloomberg quoted the data report released by the China State Administration of Foreign Exchange last Friday (September 15) that China ’s outflow in August is mainly derived from capital and financial accounts, which is 48.9 billion US dollars (S $ 66.6 billion).The largest scale since the end of the year.

It is reported that due to the weak economic growth and the stimulus of the expansion of Sino -US interest spreads, the outflow of funds has pushed the RMB exchange rate to fall to a low point in 16 years.

In order to strengthen the reverse cycle adjustment, in addition to continuing the intermediate price of market expectations and limiting the depreciation of the current exchange rate through the intermediate price that is significantly stronger than the market forecast average, it is reported that the state -owned bank is also required to strengthen the intervention of the foreign exchange market. In addition, the Central Bank of ChinaIn the offshore market incremental issuance of central tickets, and tightening offshore RMB liquidity.

Wu Zhuoyin, a senior economist in French Foreign Trade Bank in Hong Kong, said that even after the official strengthening management, although the net outflow of funds in the next few months is expected to improve, it is difficult to say that it will completely reverse.

With the sluggish real estate market and the decline in exports, Chinese sovereign bonds held by foreign investors fell to the lowest point in four years in August. At the same time, they also sold up to $ 12 billion in Chinese stocks in the same month.

Direct investment receivables recorded a deficit of 16.8 billion US dollars in August, the highest in January 2016. The project includes foreign direct investment and foreign direct investment, and the net outflow of funds has occurred for 14 consecutive months.