RMB Gets Taken To The Bank, 173 billion in Q2 !

China’s non-resident deposits reach US$ 173 billion in Q2

The State Administration of Foreign Exchange of China (SAFE) announced that the country’s non-resident Yuan deposits hit RMB 1.07 trillion (US$ 173 billion) in Q2. An estimated RMB 497.1 billion (US$ 81.20 billion) of the deposits were made by individuals. SAFE’s second publication of non-resident deposit data is part of efforts to make statistics for foreign exchange more transparent to the public. The first announcement for 2013’s Q1 statistics was made on 26 June, according to Chinese State run media.

Ceres Ltd.

China, the world’s 2nd largest economy, continues to be the most important market for companies looking for growth and Chinese companies continue to globalize by investing and selling their products in new markets; what is your company’s strategy for engaging China?

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