(Yicai Global) Sept. 23 -- On Sept. 21, the China Internet Joint Rumor Refuting Platform said reports that the People's Bank of China would prioritize accelerating research of its legal digital currency DC/EP in the second half of this year and issue the currency to four major banks, Alibaba, Tencent and UnionPay within 80 days are inaccurate.

The central bank will release development progress in due course, PBOC said, adding that those interested in advancements should check official announcements.

On Sept. 19, China's State Administration of Foreign Exchange said banks' forex settlement totaled USD171 billion in August while forex sales tallied USD176.5, some 64 percent lower than the year-ago period and down USD700 million from July.

The settlement-sales deficit narrowed in August and supply and demand was mostly balanced, SAFE's Chief Economist Wang Chunying said, adding that the country's forex reserves were stable at USD3.1 trillion in late August, up USD3.5 billion from the previous month.

A report from Wind showed that listed companies in China purchased fewer wealth management products this year. Some 1,167 firms listed on the mainland bought CNY1.4 trillion (USD197.4 billion) worth in the year ended Sept. 18, compared with 1,359 buying CNY1.8 trillion worth in the year-ago period.

Banks have transformed their WMP range this year and removed many products that guarantee to return the principal investment, a likely reason behind the decline. Expected rates of return on WMPs have feel for 18 straight months, with the average down to 4.04 percent last month.

Some 303 listed firms had completed stock buyback plans this year as of Sept. 18, almost tripling from a year earlier when just 104 companies had done the same.

On Sept. 20, China's Ministry of Finance published a timetable detailing how state-owned capital at a local and national level will be transferred into social insurance funds between now and late next year. The funds and other recipients must lock up the proceeds for at least three years and take on any other lock-up obligations applicable to the original holders.