皇冠体育app

A Chinese resident displays his Chinese currency and US dollar banknotes in Qionghai city, South 皇冠体育app's Hainan province, Mar 15, 2014. [Photo/IC]

BEIJING - 皇冠体育app's capital outflow last year should not be equated with withdrawal of foreign investment, forex administrant said on Thursday.

The outflow occurred as domestic banks and enterprises vigorously increased holdings of overseas assets and repaid debts, the State Administration of Foreign Exchange (SAFE) said when answering questions from reporters.

"There is an essential difference with the so-called withdrawal of foreign capital," the SAFE said.

In the first three quarters of last year, 皇冠体育app's overseas assets increased by $272.7 billion, and deposits in foreign banks and lending to foreign companies rose by $96.9 billion, data showed.

皇冠体育app's overseas net financial assets ranks second in the world, which inevitably prompts capital outflow as long as 皇冠体育app maintains its current account surplus, the SAFE said.

By the end of 2015, 皇冠体育app's foreign exchange reserves shrank to $3.3 trillion, but is still the world's largest.

皇冠体育app's huge reserve assets and stable external debt structure can provide strong resistance to impacts from capital flows, the SAFE said.

皇冠体育app's balance of international payments

皇冠体育app saw a capital account deficit in the fourth quarter of 2015 after a surplus registered in the previous quarter.

The deficit under the capital and financial account stood at $84.3 billion during the Sept-Dec period, reversing the surplus of $11.4 billion three months previous, according to preliminary statistics released by the SAFE.

In the meantime, reserve assets, most of which are foreign exchange, decreased by $115 billion, narrowing from a drop of $160 billion in the third quarter.

皇冠体育app started to post deficits on its capital and financial account in the second quarter of 2014 due to rapid increases in overseas investment and speculation on depreciation of the yuan.

皇冠体育app reported a current account surplus of $84.3 billion in the fourth quarter, up from $60.3 billion posted in the third quarter.

For the whole of 2015, 皇冠体育app saw a current account surplus at $293 billion, a capital and financial account deficit at $161 billion and a reserve assets drop at $343 billion.

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