CHINA received investment inflows last month of US$15.6 billion for the first time in almost three years, Standard Chartered said Friday, citing its proprietary capital movements tracking data.

    February’s US$15.6 billion figure excludes foreign direct investment (FDI), Standard Chartered said, noting this was the first month that “non-FDI flows” were positive since April 2014, when China started daily fixing of the yuan exchange rate.

    The estimates offer a fresh sign that China’s capital exodus may finally be easing — official data showed hard currency reserves rose in February for the first time in eight months as stringent measures to curb capital outflows took effect.

    Based on the reserves rise and data on merchandise and services trade for February, Standard Chartered calculated “capital inflows of US$18.1 billion of which US$2.5 billion was net FDI inflow.”

    But that comes after China posted some US$60 billion of non-FDI outflows in the previous five months, the bank added.

    Authorities’ tighter grip on cash moving out of the country also continued to reduce outward direct investment (ODI) by Chinese companies, reducing it by 26 percent in February to US$5.7 billion, the data showed.

    Standard Chartered warned it was too early to assume the outflow pressure was over. But the government’s greater scrutiny of capital outflows, measures to lure capital into the country and interest rate rises had all helped stabilize the situation, the note added.(SD-Agencies)