Chinese banks' net forex sales rise in November

BEIJING - Chinese banks continued to see net foreign exchange sales in November, and the volume expanded in a sign of rising capital outflows.

Chinese lenders bought $117.9 billion worth of foreign currency last month and sold $151.3 billion, resulting in a net sale of $33.4 billion, the State Administration of Foreign Exchange said in a statement Friday.

The amount has increased from the $14.6 billion seen in October, suggesting the pressure of capital outflow is rising.