Chinese banking system buys more foreign currency in March

China’s central bank and financial institutions bought a net 189.20 billion yuan ($30.40 billion) of foreign currency in March, compared with a net purchase of CNY128.25 billion in February

• March was the eight-straight month of net purchases, suggesting continuing capital inflows into the country
• The data include purchases and sales by commercial banks and other financial institutions but mostly reflect transactions by the central bank.
• Most analysts view the figures as a proxy for inflows and outflows of foreign capital as most foreign currency entering the country is generally sold to the central bank

More detail at (The Wall Street Journal is often gated, so if you’re unable to access the article try a search of Google news using the headline): Chinese Banking System Buys More Foreign Currency in March