China’s SAFE: Pressure on capital outflow eased significantly in Q1
|China’s fx regulator, the State Administration of Foreign Exchange (SAFE), published a statement today on capital flows in March and Q1.
Key Points:
For the January to March period, net forex sales stood at $40.9 billion
For March, $11.6bn ($10.1bn in February)
Pressure on capital outflow eased significantly in Q1
A SAFE official noted that Yuan depreciation expectation has weakened
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