Deposits of Chinese yuan held by local banks up slightly
By Crystal Hsu / Staff reporter
Chinese yuan deposits held by local banks last month inched up 0.2 percent to 23.86 billion yuan (US$3.65 billion), helped by dividend income remittance by corporate customers, while retail accounts continued to cut holdings, the central bank said yesterday.
It is the second consecutive month of increases, and arose despite domestic banking units which hold the bulk of yuan deposits reporting a 0.7 percent decline in their collective balance from a month earlier to a nearly a seven-year low of 20.49 billion yuan, the latest official data showed.
The central bank linked the retreat to new-found interest in local shares among Taiwanese investors.