China's FX regulator is the State Administration of Foreign Exchange (SAFE).
The authority says buying of foreign exchange by commercial banks in China ramped a lot higher in June, to USD5.9bn. From just $1.5bn in May.
I posted on this week last week:
- Chinese authorities are eyeing capital controls - concern on flows of funds offshore
- More on China examining capital flows offshore
As US rates rise, and elsewhere, capital flows out of China will remain under the microscope of authorities in the country. Yuan has been relatively stable since May:
