Hot money returning or forcing the renminbi to appreciate

Morning paper reporter Duchenqing August Bank Valet Sales surplus to undertake the rebound in July, the chain increased by nearly 10%, indicating that the Cross-border return of capital is still continuing.　　The latest figures, released yesterday by the State Administration of foreign exchange ("FX Bureau"), show that the August bank's passenger-exchange surplus to take a rebound in July, up nearly 10% per cent from the previous month, suggests that Cross-border capital flows are continuing.　　According to the information disclosed by the Exchange Bureau, the bank's total settlement in August 2010 was USD 113.2 billion, and the bank's sales of foreign exchange amounted to USD 84.1 billion, with a surplus of USD 29.1 billion and a surplus of 9.4% in July. Simply put, a valet settlement means that the individual sells the dollar at hand to the bank for renminbi, and that the person sells the exchange renminbi from the bank to the renminbi.　　Settlement over the sale of foreign exchange, indicating the willingness of the parties to hold renminbi more strong.　　In July this year, the bank's valet sales surplus of 26.6 billion U.S. dollars, the chain increased by 90%.　　Yesterday, more insiders pointed out that although the current quarterly official foreign exchange reserve data has not been disclosed, but through the July and August performance of the data, regardless of the change in the book valuation of foreign exchange reserves, foreign exchange reserves for two consecutive months increased and the increase of not less than 50 billion U.S. dollars has been an indisputable fact.　　According to the instructions of the AA, the difference between the bank's valet and the sale of the exchange will be one of the main sources of the change of China's foreign exchange reserves. In this respect, a joint-stock bank foreign exchange analyst also bluntly, "the increase of foreign exchange reserves will undoubtedly aggravate the pressure of RMB appreciation." "It can be seen that the renminbi is facing pressure from the US in the near future because of the November mid-term elections."　　Today, a bill on the renminbi's exchange rate will also be considered by the House of Representatives. However, a simple understanding of the renminbi against the United States dollar official exchange rate of the renminbi on the median price yesterday 6.7051, although higher than the previous day, but did not break through the 6.70 mark again. Some believe this means that the central bank could withstand pressure in the near future to slow the pace of renminbi appreciation.