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"