Chinese banks registered a surplus of 397.7 billion US dollars in their foreign exchange transactions with clients, up 50.93% on the level of the previous year, according to statistics published by the State Administration of Foreign Exchange (SAFE). China''s institutional and individual clients sold 1.33 trillion US dollars in foreign exchange to banks in 2010, while purchasing only 932.7 billion US dollars. Since these transactions are the main contributor to China's foreign exchange reserves, this indicates a continuous inflow of hot money to China. The statement noted the figures did not include the banks' own forex transactions and interbank transactions.

Source
National Business Daily

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