BEIJING, Dec. 16 (Xinhua) -- Chinese companies fabricated forex trade to the tune of 2.5 billion U.S. dollars in the first 11 months of 2013, the State Administration of Foreign Exchange (SAFE) said on Monday.
A total of 112 companies were involved in irregular financing, of which 41 are facing administrative sanction and 12, which are suspected of breaking the law, are being dealt with by public security departments, SAFE said in a report.
SAFE urged both home-grown and foreign banks to be extra vigilant of authenticity and compliance to control risk and support the actual needs of the real economy.
SAFE will step up supervision of banks and cross-border capital to ensure economic and financial security.
Chinese banks generate forex surplus in November
BEIJING, Dec. 16 (Xinhua) -- Chinese banks purchased forex worth 164.7 billion U.S. dollars last month while selling 128.1 billion U.S. dollars, a surplus of 36.6 billion U.S. dollars.
It marked the fourth month of surplus since August, after a deficit in June and July, according to the State Administration of Foreign Exchange. Full story