Chinese banks report forex settlement surplus in October

China's commercial banks saw a forex settlement surplus of about $18.3 billion in October, official data showed last Friday.

Forex purchases by banks reached $216.4 billion, while sales stood at about $198.2 billion, data from the State Administration of Foreign Exchange (SAFE) showed.

China's forex market has been maintaining stable operation, with market expectations and transactions remaining stable and orderly, and domestic foreign exchange supply and demand generally balanced, a SAFE official said.

In October, China's foreign trade continued its upward trajectory, with the net inflow of funds under the goods trade category increasing 9.7 percent month-on -month, reaching a historical high for three consecutive months, said the official.

The official said that China's foreign exchange market has the basis and conditions to maintain stable operation in the future.