Chinese banks log forex settlement surplus in August

BEIJING -- China's commercial banks reported a net forex settlement surplus of $25 billion in August, the country's forex regulator said Thursday.

Forex purchases by banks stood at $233.5 billion, while sales reached about $208.4 billion, data from the State Administration of Foreign Exchange shows.

China's foreign exchange market has shown strong resilience, with banks' net forex settlement surplus last month higher than the average monthly level since the beginning of this year, said Wang Chunying, deputy director and spokesperson of the administration.

The official also underlined stable market expectations, as well as rational and orderly trading in the foreign exchange market.