May China's foreign exchange account increment innovation high suspicion for the influx of arbitrage capital

BCC network Beijing, June 24 (reporter Feng Ya) According to the Chinese voice of the "Yang News" 14:40 reported that the central bank recently released the latest data, as at the end of May, China's financial institutions foreign exchange accounted for the balance of 176,587 5.1 billion yuan, of which May financial institutions new foreign exchange accounted for 242.565 billion yuan, the increase has been the highest since this year. This is also foreign exchange accounted for two consecutive months of growth.　　Market analysis, the previous trend of international capital inflow has changed, and the signs of steady recovery are significant. News class: What is the foreign Exchange account?　　What does it mean to increase or decrease? Foreign exchange accounts for the acquisition of foreign exchange assets and the corresponding national currency. Banks buy foreign exchange to form the local currency, and the foreign exchange assets they buy form the bank's foreign exchange reserves.　　For example, in May this year, the new foreign exchange accounted for 242.565 billion yuan, which means that in May this year, the domestic banking system for net purchase of foreign exchange occupied by RMB capital of up to 242.56 billion yuan, if converted into dollars, equivalent to a net buy about 35.5 billion of the dollar foreign exchange. Generally speaking, the increase in foreign exchange accounted for more foreign capital inflow than outflow, but also may be foreign institutions bullish on China's economy, but also may be expected to appreciate the renminbi, or see the U.S. dollar, leading to the influx of hot money arbitrage behavior.　　Wait a minute. In May this year, China's foreign exchange accounted for a significant increase in the growth of the reason for this is this year, China's foreign exchange accounted for the first breakthrough in the 200 billion yuan, a year high.　　Of course, this data and the 2008 international financial crisis before the full outbreak of nearly 400 billion yuan per month, compared to the growth, there is still a big gap. With the global economic crisis triggered last year, the US and other Western countries and regions have seen some signs of capital outflows as a result of deleveraging, as investors chose to hedge against the dollar, while the recession in Western countries has caused a sharp contraction in external demand,　　The decline in China's foreign trade surplus and foreign direct investment has also allowed international capital inflows to slide. For the reason that foreign exchange accounts for the new year, the market analysis may have two reasons: first, may be the market to see the U.S. dollar, investors choose renminbi for investment or speculation.　　Secondly, under the background of economic crisis, China's economy is relatively optimistic, the RMB exchange rate is also relatively stable, leading to some return of funds. In addition, there is now a market expectation that the renminbi will restart the appreciation channel by the end of the year, which will continue to increase the future of foreign exchange accounts, and the Ministry of Commerce recently advised the State Council to relax foreign investment in real estate. If the decline in exports can be stopped, coupled with the growth of foreign investment, the future capital inflow will gradually trend upward.