In view of the serious problems in the data quality of foreign currency cash deposits and withdrawals in some banks, the China Administration of Foreign Exchange recently issued a notice, requiring banks to conduct self-inspection and report the data of foreign currency cash deposits and withdrawals of individuals with more than US$ 654.38 million.

Sources quoted a document recently issued by SAFE as saying that recently, SAFE found that "the number and amount of personal foreign currency withdrawals in some banks are high, which is inconsistent with the filing situation of foreign exchange management departments" and asked all Chinese-funded designated foreign exchange banks to conduct a comprehensive self-examination of this data.

"Since June last year 165438+ 10, SAFE has found some problems in the personal foreign currency cash deposit and withdrawal data reported by some commercial banks, and does not rule out some irregularities. Therefore, it has issued a document requiring banks to conduct self-examination and foreign management must conduct spot checks. " A financial market person told Reuters.

An analyst of a Chinese brokerage firm believes that if cash withdrawals, especially large foreign currency withdrawals, are frequent and large, it is likely to be money laundering or related to the underground economy. It is not ruled out that the depreciation of RMB in the fourth quarter of last year, personal holding of foreign exchange assets is related to capital flight.

According to the data of safe, the deficit of capital and financial projects in the fourth quarter of 20 14 was $91200 million. The expectation of RMB depreciation is increasing. With the decrease in the attractiveness of RMB assets and the strengthening of the US dollar, the outflow pressure of China capital [1.73%] is increasing.

The data shows that in 20 14, the RMB bid farewell to the long-term unilateral appreciation mode since the exchange rate reform in 2005, with an annual depreciation of 2.42%.

As early as 2006, the Measures for the Administration of Personal Foreign Exchange promulgated by the Central Bank of China stipulated that individuals who deposit foreign currency cash into foreign exchange savings accounts and accumulate more than the equivalent of US$ 5,000 on the same day must go to the bank with relevant documents; Individuals need to provide relevant certificates and report to the foreign exchange bureau in advance when the total amount of foreign currency cash withdrawn on the same day exceeds the equivalent of US$ 6,543.8+RMB 0,000.