SAFE releases statistics of exchange settlement for clients

The SAFE’s data says in 2009, the banks have conducted exchange settlement and sales for the clients at about 978.6 and 715.1 billion US dollars respectively, with balance of 263.5 billion dollars, down 22%, 10% and 42% accordingly against last year.

Foreign-related receipt-payment business has fulfilled 1405.5 and 1241.9 billion dollars, balanced with 163.4 billion dollars, falling respectively by 22%, 13% and 56% to last year. Starting from this year, the SAFE will publicize above information by every quarter as to reflect the nation’s economic growth in different ways.<?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

Balance of payments refers to the record of all international transactions a country consummates over a period of time, including financial transactions and barter trades amid the nation’s resident and non-resident.

Exchange settlement and sales for the clients is involving the business operated by the named bank at the request of the clients other than the bank’s own business, and the statistics will be checked by the time of each transaction of selling or buying exchange to the bank.

Foreign-related receipt-payment business refers to such business affected at domestic bank amid individuals or institutions except the bank’s own business in this field.