FX regulator SAFE out with final report 28 Sept

What's $2bln between friends ?

  • Q2 capital and financial account deficit $400m vs $52.9bln prev

Ok so that's quite a revision if Rtrs are correct

  • H1 current account surplus $69.3bln
  • H1 capital and financial account surplus $38.9bln

Says SAFE:

  • China will maintain reasonable c/a surplus in H2
  • China will fend off cross-border capital flow risks
  • will prudently push forward on capital account convertibility

"So what's that big revision all about then ? " Beats me, pass the bamboo please"