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China capital outflow unrelenting, 24th month, August worst since January
THE departure of China's capital is unrelenting, with Chinese banks' foreign-exchange data showing 24 straight months of outflows, according to Goldman Sachs.
Standard Chartered said that when changes in foreign-exchange reserves are netted off against trade and investment flows, August was the worst month since January, says the Wall Street Journal.
China's outflows this year are more than US$400 billion, which is reflected both in a $190 billion decline in the country's foreign-exchange reserves and a weaker yuan, down about three per cent this year against the dollar.
Standard Chartered said that when changes in foreign-exchange reserves are netted off against trade and investment flows, August was the worst month since January, says the Wall Street Journal.
China's outflows this year are more than US$400 billion, which is reflected both in a $190 billion decline in the country's foreign-exchange reserves and a weaker yuan, down about three per cent this year against the dollar.
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