Foreign exchange transactions ranked third nationwide

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Category: Governmental News

Published: Tuesday, 16 April 2013 10:15

Data from the Foreign Exchange Center in Ningbo showed that the foreign exchange transactions of Ningbo reached 347.8 billion US dollars, up by 35.9 percent against the previous year, right after that of Guangzhou and Shenzhen. Total cross-border capital receipts and payments was over 160 billion US dollars, which means that every citizen has a foreign net income of over 30 thousand yuan every year, estimated by a resident population of six million people.
　
Along with the increase of enterprises’ and individuals’ demands for foreign exchange transactions, the number of financial institutions for foreign exchange settled in Ningbo increased as well over the last a few years. Till the end of 2012, 44 banks had the business of foreign exchange. The agencies with the business of foreign exchange settlement and sales totaled at 870, involving over 20 kinds of foreign exchange products which include foreign exchange settlement and sales, option, letter of guarantee and fund raising and other businesses.