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According to the central bank December 28 released data, November new foreign exchange accounted for 254.294 billion yuan. Increased by $25.736 billion over last month. Experts believe that the improvement of foreign trade exports, the increase in trade surplus is the main reason for the increase in foreign exchange accounts, also do not exclude some hot money inflow. The recent 3-month increase in foreign exchange accounts has been high in the year. In September, the increase in foreign exchange accounted for a sudden surge to 406.769 billion yuan, the year's record. Although October foreign exchange accounted for the increase in the fall, but 228.558 billion yuan data is still in the year high. November new foreign exchange accounted for 254.294 billion yuan, after September, the second highest since this year, far higher than the first 8 months 100 billion ~2000 billion of the scale. Zhao, an economist and foreign exchange expert at CCB, said the trade surplus and hot money remained the main factors affecting the increase in foreign exchange accounts. With the improvement of the trade surplus, foreign exchange accounted for the increase, and some hot money may be through trade and other means into the territory. According to customs data, China achieved a trade surplus of 19.093 billion U.S. dollars in November. Zhao said that the increase in foreign exchange accounts will lead to an increase in the market base currency, the current excess market activity, the central bank through blatant market manipulation to hedge base currency pressure increased. While the share of foreign exchange continues to increase, the amount of money supply has increased for several consecutive months. Central bank data show that by the end of November, the broad money supply (M2) balance of 59.46 trillion yuan, an increase of 29.74%, the narrow money supply (M1) balance of 21.25 trillion yuan, increased by 34.63%, the increase was higher than the end of last month 2.6%. The recent withdrawal of central bank currency has increased markedly. As of last week, the central bank has been in the open market for 11 consecutive weeks net withdrawal of funds.
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