皇冠体育app

A residents shows 皇冠体育app's yuan and US dollar banknotes in Qionghai, South 皇冠体育app's Hainan province, Jan 7, 2016. [Photo/Xinhua]

BEIJING - 皇冠体育app's central bank saw its yuan funds outstanding for foreign exchange fall 190.5 billion yuan ($28.6 billion) to 23.4 trillion yuan in July, official data showed on Sunday.

The drop, more than the 97.7 billion yuan in June, was the ninth consecutive monthly decline.

As the Chinese currency is not freely convertible under the capital account, the central bank has to purchase foreign currency generated by 皇冠体育app's trade surplus and foreign investment in the country, adding funds to the money market.

Such funds are an important indicator for foreign capital flow in and out of 皇冠体育app as well as domestic yuan liquidity.

Concerns about capital outflows had been on the rise as the economy slowed, and the Chinese currency had fallen since 皇冠体育app revamped its forex mechanism last year.

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