As shown in the statistics of the State Administration of Foreign Exchange (SAFE), in November 2021, the amount of foreign exchange settlement and sales by banks was RMB 1509.3 billion and RMB 1348.4 billion, respectively, with a surplus of RMB 160.9 billion. During January to November 2021, the accumulative amount of foreign exchange settlement and sales by banks was RMB 14742.0 billion and RMB 13311.3 billion, respectively, with an accumulative surplus of RMB 1430.7 billion.
In the US dollar terms, in November 2021, the amount of foreign exchange settlement and sales by banks was USD 236.0 billion and USD 210.8 billion, respectively, with a surplus of USD 25.2 billion. During January to November 2021, the accumulative amount of foreign exchange settlement and sales by banks was USD 2282.0 billion and USD 2060.3 billion, respectively, with an accumulative surplus of USD 221.6 billion.
In November 2021, the amount of cross-border receipts and payments by non-banking sectors was RMB 3544.1 billion and RMB 3332.1 billion, respectively, with a surplus of RMB 211.9 billion. During January to November 2021, the accumulative amount of cross-border receipts and payments by non-banking sectors was RMB 34952.9 billion and RMB 32998.2 billion, respectively, with an accumulative surplus of RMB 1954.7 billion.
In the US dollar terms, in November 2021, the amount of cross-border receipts and payments by non-banking sectors was USD 554.2 billion and USD 521.0 billion, respectively, with a surplus of USD 33.1 billion. During January to November 2021, the accumulative amount of cross-border receipts and payments by non-banking sectors was USD 5412.2 billion and USD 5109.5 billion, respectively, with an accumulative surplus of USD 302.7 billion.
Addendum: Glossary and relevant definitions
Balance of payments (BOP) refers to all economic transactions between residents and non-residents.
Foreign exchange settlement and sales by banks refers to settlement and sale transaction that bank executes for customers and for the banks themselves, including statistic data on settlements of forward contracts for foreign exchange settlement and sales and the exercises of option, and excluding the transactions in the interbank foreign exchange market. The statistic reporting date of Foreign exchange settlement and sales by banks should be the trade day of the Foreign exchange settlement and sales transaction. By definition, foreign exchange settlement means foreign exchange holders sell foreign exchange to designated foreign exchange bank, and foreign exchange sales means designated bank sells foreign exchange to foreign exchange buyers.
The newly signed contract amount of forward foreign exchange settlement and sales refers to the binding forward contract between designated foreign exchange bank and client that predetermines foreign exchange currency, amount, exchange rate and tenor which to be executed upon maturity.
The unwind amount of forward foreign exchange settlement and sales refers to, where client is unable to perform the original forward contract due to change in its real demand, client to fully or partially close its forward position by executing another deal with opposite direction to the original contract.
The rolling amount of forward foreign exchange settlement and sales refers to client to adjust the settlement date of original contract due to change in its real demand.
The outstanding amount of forward foreign exchange settlement and sales by the end of the current period refers to the total amount of forward contracts accumulated from all non-matured forward contracts with client.
The net Delta exposure of outstanding options refers to the implied foreign exchange spot risk exposure from outstanding option contracts that bank executed with client.
The cross-border receipts and payments by non-banking sectors refers to the receipts and payments between domestic non-banking sectors (including institutional and individual residents) and non-residents through domestic banks, excluding receipts and payments in cash. In particular, the statistics includes cross-border receipts and payments between non-banking sectors and non-residents through domestic banks (including RMB and foreign currency), and domestic receipts and payments between non-banking sectors and non-residents through domestic banks (temporarily excluding domestic receipts and payments in RMB between individual residents and non-resident individuals). Data are collected when customers conduct receipts and payments with non-resident counterparties at domestic banks. Specifically, the receipts refer to the capital of non-banking sectors received from non-residents via domestic banks; the payments refer to the capital of non-banking sectors paid to non-residents via domestic banks.
