Chinese Banks' 2010 forex surplus tops 397.7 bln U

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Chinese Banks' 2010 forex surplus tops 397.7 bln USD: SA
China's foreign exchange watchdog said Thursday that the surplus of Chinese banks' foreign exchange purchases to sales in client transactions increased 51 percent through 2010 to stand at 397.7 billion U.S. dollars at year-end.China' s institutional and individual clients sold 1.33 trillion U.S. dollars in foreign exchange to banks in 2010 while purchasing 932.7 billion U.S. dollars,[link widoczny dla zalogowanych], said the State Administration of Foreign Exchange (SAFE) in an online statement.
In 2009, the annual surplus fell 42 percent to 263.5 billion U.S. dollars,[link widoczny dla zalogowanych], according to SAFE's data released in March 2010.The statement noted the figures did not include banks' own forex transactions and interbank transactions.
The forex surplus in December 2010 totaled 51.5 billion U.S. dollars, as clients sold 146.2 billion U.S. dollars of foreign exchange, up 13 percent from November,[link widoczny dla zalogowanych], while purchasing 94.7 billion U.S. dollars,[link widoczny dla zalogowanych], up 12 percent,[link widoczny dla zalogowanych], it said.Chinese banks received 1.89 trillion U.S. dollars for their clients in overseas business in 2010 and paid 1.59 trillion U.S. dollars to overseas business, it added.The SAFE only began releasing monthly and quarterly data on bank foreign exchange transactions in 2010.
China's civil affairs ministers visit quake and mudslide survivors ahead of lunar new year
China's civil affairs ministers visited survivors of last year's 7.1-magnitude Yushu earthquake and Zhouqu mudslide prior to China's lunar new year.Dou Yupei,[link widoczny dla zalogowanych], vice minister of Civil Affairs, led a team to Yushu in northwest China's Qinghai Province to visit quake survivors and local cadres beginning on Sunday.Dou told Xinhua that quake survivors in Yushu now had access to food, clothing, safe drinking water,[link widoczny dla zalogowanych], shelters and medical services,[link widoczny dla zalogowanych], and the reconstruction of quake-damaged houses was well underway.
Further,[link widoczny dla zalogowanych], the ministry has distributed 45,[link widoczny dla zalogowanych],000 cotton-padded tents to Yushu to house survivors during the extremely cold winter on the Qinghai-Tibet plateau.So far, 160,000 tents have been set up to assure that all survivors have a roof overhead, according to the ministry's statement issued Wednesday.
Yushu was jolted by a 7.1-magnitude earthquake on April 14,[link widoczny dla zalogowanych], leaving 2,[link widoczny dla zalogowanych],200 people dead and 220,000 local residents affected.Another vice minister,[link widoczny dla zalogowanych], Sun Shaocheng, visited survivors from a massive mudslide that left 1,700 people dead or missing in Zhouqu, Gansu province.
To provide warm shelters to survivors,[link widoczny dla zalogowanych], the Zhouqu county government invested three million yuan (455,000 U.S. Dollars) in renovating vacant school buildings or installing facilities in newly-built apartments.All survivors who previously had taken shelter in make-shift tents were relocated to these buildings before Oct. 13,[link widoczny dla zalogowanych], according to the ministry's statement.
China allocates 157 mln USD for disaster-hit areas
China Thursday allocated 1.039 billion yuan (157 million U.S. dollars) for areas hit by natural disasters last year.The relief funds, jointly allocated by the Ministry of Civil Affairs and the Ministry of Finance,[link widoczny dla zalogowanych], will be used for disaster survivors to buy food, clothes, quilts and heating devices.A Ministry of Civil Affairs statement said local finance and civil affairs authorities have been ordered to publicly disclose relevant information.
In 2010,[link widoczny dla zalogowanych], several natural disasters hit China,[link widoczny dla zalogowanych], including the 7.1-magnitude Yushu earthquake that left 2,200 people dead and the Zhouqu mudslide that left 1,700 people dead or missing.On Nov. 18,[link widoczny dla zalogowanych], 2010,[link widoczny dla zalogowanych], the two ministries jointly allocated 4.1 billion yuan (617 million U.S. dollars) to help natural disaster survivors pass the winter.
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