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On Tuesday, July 22, 2025, at 3:00 p.m., the State Council Information Office (SCIO) held a press conference. Mr. Li Bin, Deputy Administrator and Press Spokesperson of the State Administration of Foreign Exchange (SAFE), was invited to disclose the data on foreign exchange receipts and payments for the first half of 2025 and respond to media queries. The following is the transcript. Xing Huina (Photographed by Luan Haijun) Xing Huina, Deputy Head of the Press Bureau of the State Council Information Office (SCIO), and Spokesperson for the SCIO: Good afternoon, ladies and gentlemen! Welcome to the SCIO press conference. Today, we continue with the regular release of economic data. We are delighted to welcome Mr. Li Bin, SAFE’s Deputy Administrator and Press Spokesperson. He will share data on China’s foreign exchange receipts and payments for the first half of 2025 with us, as well as answer your questions. Also present are Mr. Jia Ning, Department Head of the Balance of Payments Department, and Mr. Xiao Sheng, Department Head of the Capital Account Management Department, both from SAFE. Now, let us begin with Mr. Li Bin's introduction. July 22, 2025 15:00:01 Li Bin (Photographed by Xu Xiang) Li Bin, Deputy Administrator and Press Spokesperson of SAFE: Good afternoon, media friends. Thank you for your ongoing attention and support for the work of foreign exchange management. I would like to take this opportunity to briefly introduce the data on foreign exchange receipts and payments for the first half of 2025. After that, I will be happy to answer your questions, along with my colleagues. Since the beginning of 2025, the external environment has become more complex and volatile, with the rise of unilateralism and protectionism, global economic and cross-border trade growth momentum has weakened, and international financial markets have seen increased volatility. In response, China has accelerated the implementation of more proactive and effective macro policies, focusing on boosting domestic demand and effectively countering external challenges. As a result, the economy has operated smoothly overall, making steady progress, and high-quality development continues to be consolidated. The foreign exchange market has operated steadily, showing strong resilience and vitality, outperforming market expectations. I would like to summarize the situation in five key areas. First, the scale of foreign exchange receipts and payments increased steadily, which is viewed from the perspective of total volume. In the first half of the year, the cross-border receipts and payments of non-bank sectors such as enterprises and individuals reached USD 7.6 trillion, a year-on-year increase of 10.4%, hitting a historical record high for this period. Among this, the proportion of RMB in cross-border receipts and payments reached 53%. The combined foreign exchange purchases and sales by banks amounted to USD 2.3 trillion, a year-on-year increase of 3%, marking the second-highest level in history. These figures indicate that China's cross-border trade and investment/financing activities remain robust. Second, there has been continued net inflow activity in terms of capital moving between countries, which is viewed from the perspective of the balance between receipts and payments. In the first half of the year, non-bank sectors such as enterprises and individuals experienced a net inflow of USD 127.3 billion in cross-border funds, maintaining the net inflow trend that began in the second half of last year. The net inflow in the second quarter increased by 46% compared to the previous quarter. By item, the net inflow under trade in goods remained high in the first half of the year, while foreign investors generally increased their net holdings of domestic stocks and bonds. Trade in services and profit remittances by foreign-invested enterprises remained stable and orderly. Third, the supply and demand in the foreign exchange market maintained a basic equilibrium. In the first half of the year, the bank's foreign exchange purchases and sales showed a deficit of USD 25.3 billion. However, there was significant monthly variation. January showed a deficit, but from February to April, the market tended towards balance, and in May and June, the market switched to a surplus. The transaction behavior of enterprises, individuals, and other market participants remained generally rational and orderly. In the first half of the year, the foreign exchange settlement rate for foreign exchange income, which measures the willingness to settle foreign exchange, was 60%, remaining stable year-on-year; while the proportion of sales made in foreign currency, which reflects the willingness to purchase foreign currency, was 65%, a decrease of 3 percentage points year-on-year. Fourth, trading activity in the foreign exchange market remained robust. In the first half of the year, the total transaction volume of the domestic RMB foreign exchange market reached USD 21 trillion, a year-on-year increase of 10.2%. The spot and derivative transactions accounted for USD 7.4 trillion and USD 13.6 trillion, respectively, with shares of 35% and 65%. Fifth, the scale of foreign exchange reserves stayed stable. By the end of June, China's foreign exchange reserves totaled USD 3.3174 trillion, an increase of USD 115.1 billion from the end of 2024. In the first half of the year, non-USD currencies appreciated against the USD, and global financial asset prices generally increased. With factors such as exchange rate fluctuations and asset valuation changes, China's foreign exchange reserves saw a steady increase. In summary, during the first half of 2025, China's foreign exchange market effectively responded to external shocks and operated smoothly. In the future, SAFE will resolutely implement the decisions and deployments of the CPC Central Committee and the State Council, uphold the general principle of pursuing progress while ensuring stability, and ensure both development and security. SAFE is dedicated to improving and establishing a more convenient, open, secure, and intelligent foreign exchange management system to promote high-quality economic development and high-standard opening up. That concludes my brief update on the foreign exchange receipts and payments situation for the first half of 2025. Now, I, along with my colleagues, will be happy to answer your questions. Thank you! July 22, 2025 15:08:48 Xing Huina: Now, please raise your hand to ask questions. Please identify your news agency before posing your questions. July 22, 2025 15:09:07 A reporter from China Securities Journal asks a question. (Photographed by Zhao Yifan) China Securities Journal: As Director Li just mentioned, the foreign exchange market in the first half of this year performed better than expected. Could you please elaborate on the specific situation? What measures has SAFE taken to prevent cross-border capital flow risks? Thank you! July 22, 2025 15:12:51 Li Bin: Thank you for your attention to the foreign exchange situation. Let me answer this question. Since the beginning of this year, the foreign exchange situation has become more complex and volatile, with significant increases in risks and challenges. In the face of external shocks, China's foreign exchange market has withstood pressure and operated steadily, showing strong resilience. As I just mentioned, there are five key characteristics of foreign exchange receipts and payments, and I would like to add three more points. First, the RMB exchange rate remained broadly stable. In the first half of this year, the RMB appreciated by 1.9% against the US dollar. The RMB exchange rate fluctuated between 7.15 and 7.35 against the US dollar, maintaining basic stability at a reasonable equilibrium level while playing the role of an automatic stabilizer for macroeconomic regulation and the balance of payments. Second, foreign exchange market expectations remained stable. Indicators from the forward market, options, and other foreign exchange markets show that there is no significant unilateral expectation for the RMB to appreciate or depreciate. Market transactions remain rational and orderly. When the RMB exchange rate depreciates, enterprises demonstrate higher willingness to settle foreign exchange; when the RMB appreciates, enterprises show increased tendency to purchase foreign currency. Overall, there has been no irrational trading behavior such as trend-chasing transactions. Third, the balance of payments maintained a basic equilibrium. Since the beginning of this year, China's current account surplus has steadily increased, remaining within a reasonable and balanced range. Corresponding to the current account surplus, the non-reserve financial account has shown a deficit, which is roughly equal to the size of the current account surplus, resulting in an autonomous balance in the balance of payments. Investment into China has generally been positive. From January to May, foreign direct investment in equity in China had a net inflow of USD 31.1 billion, a 16% year-on-year increase. Securities investment into China showed a net inflow of approximately USD 33 billion, reversing the net outflow trend in the second half of last year. Outbound investment has been progressing in an orderly manner. From January to May, equity-based outbound direct investment totaled USD 51.9 billion, roughly unchanged year-on-year, and outbound securities investments remained active. The foreign exchange management department has actively taken measures to prevent and mitigate external shocks, focusing on maintaining the stable and healthy operation of the foreign exchange market. We adhered to a managed floating exchange rate system based on market supply and demand, maintaining the flexibility of the RMB exchange rate, and using the price mechanism to promote market supply-demand balance. We have continued to optimize foreign exchange policy offerings, deepen reforms and opening-up in the foreign exchange sector, and further facilitate cross-border trade, investment and financing. At the same time, we have strengthened the monitoring and early warning of cross-border capital flows, firmly preventing the divergence of market unilateral expectations. We have rigorously cracked down on illegal and irregular activities in the foreign exchange sector. In the first half of this year, we investigated over 400 foreign exchange-related illegal cases and cooperated with law enforcement agencies to penalize over 180 cases involving underground banking operations, effectively maintaining a good foreign exchange trading order. Overall, policies aimed at stabilizing the market and expectations have achieved positive results. Thank you! July 22, 2025 15:13:05 A reporter from CCTV asks a question. (Photographed by Zhao Yifan): CCTV: As a large open economy, China's balance of payments situation has received widespread attention. Could you share some of the key characteristics of China's balance of payments in recent years? Thank you! July 22, 2025 15:27:32 Li Bin: This question concerns the balance of payments, so I will invite Department Head Jia Ning to answer your question. July 22, 2025 15:27:59 Jia Ning (Photographed by Xu Xiang) Jia Ning, Department Head of the Balance of Payments Department, SAFE: Thank you for your attention to the balance of payments. The balance of payments is a summary and record of various economic transactions between residents and non-residents. The current account records cross-border trade in goods and services, along with investment income, while the capital and financial account records cross-border investment and financing activities. The balance of payments and the international investment position can comprehensively reflect a country's external economic development and its internal and external balance. Regarding the recent changes in China's current account and capital and financial accounts, I would like to share two key points with you. First, in recent years, China's current account has operated steadily. To start with, the surplus from trade in goods is the primary source of China's current account surplus. Since 2020, China's surplus from trade in goods has increased, driven by both internal and external factors. In recent years, global demand for goods has increased, with global merchandise imports growing at an annual average of 5.8% from 2020 to 2024, higher than the 0.7% annual average from 2015 to 2019. Supported by this trend, China's exports have grown rapidly, and imports have also shown an upward trend. Preliminary statistics show that in the first half of this year, goods imports and exports according to the balance of payments increased by 2.4% year-on-year. Next, trade in services has become more active, with the deficit narrowing overall. China's international competitiveness in productive services, such as computer information services and business services, has improved. At the same time, China has continued to optimize services for foreign nationals coming to China, expanded visa facilitation, and seen an increase in foreign travel to China. With this support, China's earnings from trade in services have steadily expanded, expenditures have grown at a steady pace, and the deficit has narrowed overall. In the first half of this year, the earnings from trade in services grew by 13% year-on-year, with cross-border travel income increasing by 42%. Expenditures on trade in services grew by 2%, and the service trade deficit decreased by 14%. Furthermore, China's investment income deficit has been narrowing steadily since reaching its peak in 2022, contributing to greater stability in the current account balance. From January to May this year, investment income continued to show improvement, with foreign investment income in China increasing by 17% year-on-year, and China's outbound investment income growing by 12%. The investment income deficit remained stable overall. In the past three years, the ratio of China's current account surplus to GDP has remained around 2%. In the first quarter of this year, the current account surplus was USD 165.4 billion. Preliminary estimates suggest that the surplus narrowed slightly in the second quarter, but the ratio of the current account surplus to GDP remains within a reasonable and balanced range. Second, China's capital and financial account deficit has led to the accumulation of foreign assets, maintaining an autonomous balance in the balance of payments. A current account surplus means that China obtains foreign funds through the export of goods and other means, and foreign institutions investing in China or purchasing domestic stocks and bonds also contribute to capital inflows. At the same time, domestic enterprises, financial institutions, and other entities also make outward investments, forming foreign assets. From a macroeconomic and balance of payments perspective, the increase in the current account surplus inevitably corresponds to an expansion in the capital and financial account deficit. Therefore, the widening of the capital and financial account deficit shall not be simply interpreted as increased pressure from capital outflows. From China's perspective, the recent expansion of the capital and financial account deficit is primarily due to increased outward investment by domestic entities, while foreign investment into China has continued to show a net inflow. Foreign institutional investments into China have formed China's external liabilities, while outward investments by domestic entities have formed China's external assets. By the end of March this year, China's foreign liabilities amounted to USD 7.1 trillion, reflecting the success of our use of foreign capital and efforts to attract foreign holdings of RMB assets. At the same time, China's foreign assets amounted to USD 10.7 trillion, with diversified asset types and holding entities. After offsetting foreign assets and liabilities, the net asset position reached USD 3.6 trillion. This reflects China's active participation in the development of the global economic cycle. Looking ahead, with the continued optimization of China's economic structure and a more stable internal and external balance, as well as the steady advancement of financial market opening, China's balance of payments will remain generally stable. That's all I would like to share for now. Every year, by the end of March and the end of September, we release the China Balance of Payments Report on the official website of SAFE, and I welcome everyone to check it out. Thank you! July 22, 2025 15:28:30 A reporter from Dazhong Daily, Dazhong News asks a question. (Photographed by Zhao Yifan) Dazhong Daily of Dazhong News: We understand that SAFE has been continuously facilitating cross-border trade, investment and financing. Could you please share the results of the first half of the year? How has this benefited businesses? Thank you! July 22, 2025 15:29:14 Li Bin: Thank you for your question. Let me provide some insights into this. Your question touches upon many foreign-invested and foreign-traded enterprises. We have been working diligently to further facilitate cross-border trade, investment and financing. In recent years, SAFE has adhered to the fundamental purpose of financial services for the real economy, continually deepening reform and opening up in the foreign exchange field, strengthening the supply of high-quality foreign exchange policies, and promoting the steady development of foreign trade and foreign investment. I would like to address the results of the first half of the year from three main aspects. First, expanding the coverage of trade facilitation policies. We have advanced pilot projects for high-level opening in cross-border trade and policies to facilitate foreign exchange receipts and payments for high-quality enterprises. More "specialized, refined, distinctive, and innovative" small and medium-sized enterprises are included in these facilitation policies. In the first half of the year, over USD 700 billion in related facilitation services were processed, marking an 11% year-on-year increase. We have actively supported the development of new business models such as cross-border e-commerce and foreign trade comprehensive services. Additionally, we have encouraged banks and payment institutions to move beyond traditional trade review methods, leveraging technology to automate the bulk processing of electronic orders, thereby offering efficient, convenient, and secure foreign exchange settlement services to small and micro cross-border e-commerce businesses. In the first half of the year, over 510 million related transactions were processed nationwide. Second, advancing cross-border investment and financing facilitation. This effort encompasses several key aspects. The first key aspect is improving the convenience for foreign investment in China. In late 2024, we piloted the cancellation of domestic reinvestment registration for foreign-invested enterprises in 19 regions, benefiting over 600 companies, effectively improving the efficiency of fund utilization. We also canceled the registration for pre-investment fees for foreign investments. Now, foreign investors can directly open accounts at banks to receive pre-investment funds when establishing foreign-invested enterprises in China, significantly shortening the fund turnover time and accelerating the investment process. Relevant policies are currently under public consultation. Another key aspect is facilitating fund allocation and management between domestic and overseas subsidiaries of multinational corporations. In March this year, we expanded the pilot program for multinational corporations' integrated domestic-foreign currency cash pooling to 16 additional provinces and municipalities, including Tianjin, Hubei, Xinjiang, and Xiamen. The reforms now permit banks to directly process certain capital account adjustment procedures for participating multinational corporations, which reportedly reduces processing time by approximately 50%. Furthermore, in June, we allocated USD 3.08 billion under the Qualified Domestic Institutional Investor (QDII) quota scheme to better meet domestic investors' demand for overseas financial products. Third, steady progress in foreign exchange business reform. Through reform in the foreign exchange business, we have brought forward bank client identification, document review, and risk monitoring tasks, allowing banks to process foreign exchange business for high-quality tier-one clients with just corporate instructions. This has changed the previous mode of manual document verification for each transaction, reducing processing times by more than 50%, benefiting enterprises and alleviating the pressure on banks' in-process audits. In the first half of the year, six more banks joined the foreign exchange business reform, bringing the total number of participating banks to 22. These banks cover state-owned large commercial banks, national joint-stock commercial banks, city commercial banks, and foreign banks, with business scope extending nationwide. The participating banks have identified over 20,000 tier-one clients, a 23% increase compared to the end of 2024. Since the start of the year, businesses have processed more than USD 200 billion in cross-border payments through corporate instructions. Looking ahead, SAFE will continue to strengthen foreign exchange management reform and innovation, granting more convenience to compliant entities, and further improving the satisfaction of businesses and the public. That's all for my response at this stage. Thank you! July 22, 2025 15:29:32 A reporter from Economic Daily asks a question. (Photographed by Zhao Yifan) Economic Daily: Recently, we noticed that the Notice of SAFE on Matters Concerning the Deepening of Foreign Exchange Management Reforms for Cross-Border Investment and Financing (Draft for Public Comments) has completed its public consultation. Could you please introduce the relevant situation and the subsequent arrangements? Thank you! July 22, 2025 15:45:09 Li Bin: This question will be answered by Department Head Xiao Sheng of the Capital Account Management Department. July 22, 2025 15:46:36 Xiao Sheng (Photographed by Xu Xiang) Xiao Sheng, Department Head of the Capital Account Management Department, SAFE: Thank you for your question. Recently, Director Zhu Hexin announced several supportive reform policies. The notice you mentioned is one of the measures to implement these policies, covering nine measures in three areas including investment, financing, and payments. Some of these measures have already been piloted in certain regions and have achieved good results. This reform will now be expanded nationwide. Here, I would like to highlight the following three policy measures. The first policy is to facilitate research institutions in receiving overseas funds, commonly referred to as "Science Hub". It allows domestic research institutions, after completing basic information registration at banks, to receive and use foreign funds. In the early stage, pilot programs for "Science Hub" were implemented in 16 cities, including Beijing, Hefei, Wuhan, and Shenzhen, and have shown positive results. This reform will further expand these pilot projects nationwide, further smoothing the channels for foreign funds to flow into China and providing effective policy support for international scientific and technological cooperation. The second policy is to facilitate cross-border financing for sci-tech innovation enterprises. In the previous phase, we implemented cross-border financing facilitation for sci-tech enterprises across the country. In 17 provinces and municipalities, including Guangdong and Sichuan, qualified sci-tech enterprises could borrow foreign debt autonomously within a limit of USD 10 million, while in other provinces, the limit was set at USD 5 million. This reform will standardize the borrowing limit for all sci-tech enterprises to USD 10 million, and some enterprises, based on an "innovation credit system", will see their limits raised to USD 20 million. This will further facilitate sci-tech enterprises in expanding their financing channels, effectively supporting them to better utilize both domestic and international markets for financing, reducing financing costs, and improving financing efficiency. The third policy is to facilitate onshore reinvestment by foreign-invested enterprises. Based on previous pilot programs, we are preparing to cancel the registration requirement for foreign-invested enterprises (FIEs) to reinvest domestically. This will allow foreign-invested enterprises to directly transfer reinvestment funds to relevant accounts, reducing operational costs and the time required for fund circulation, thus improving investment efficiency. Currently, the public consultation phase for this notice has ended. We are working to review and research the opinions and suggestions that have been gathered. The notice will be officially released as soon as possible after fully absorbing the feedback from various parties. Thank you! July 22, 2025 15:46:57 A CNR.cn reporter asks a question. (Photographed by Zhao Yifan) CNR.cn: In recent years, the foreign exchange management department has introduced policies such as the integration of domestic and foreign currency pools. We feel that the integrated management of domestic and foreign currencies is becoming a direction for cross-border capital flow management. Could you please share the considerations regarding the advancement of domestic and foreign currency integration? Thank you! July 22, 2025 15:47:51 Li Bin: Thank you for your concern and attention to foreign exchange management. I will answer your question. In recent years, cross-border trade and investment activities have become more active, and the use of the RMB in cross-border transactions has gradually increased, which has raised higher demands for the coordinated management of domestic and foreign currency transactions. For enterprises and other business entities, both domestic and foreign currency cross-border receipts and payments serve as settlement tools, differing only in the choice of currency, but essentially, they are international means of payment. The clear requirement of "same business, same management" allows banks and enterprises to better understand and implement policies and makes cross-border capital operation management more efficient and convenient. To this end, SAFE, together with the People's Bank of China and other departments, has closely collaborated in the policy-making and implementation process, actively exploring integrated management and business process integration for domestic and foreign currencies. The first aspect is to reflect the integration of domestic and foreign currencies in policy formulation. Let me give you a few examples. For example, for multinational corporations' integrated domestic and foreign fund pools, we have gradually developed consistent standards and rules for the fund pool policies, integrating both domestic and foreign fund pools to better meet the cross-border capital management needs of multinational corporations. For another example, the policy for managing funds raised by domestic enterprises through overseas listings allows companies to freely choose to repatriate funds raised from overseas listings, share sales, or asset transfers in either RMB or foreign currency, which helps enterprises finance efficiently and flexibly. Moreover, the policies for the management of funds related to qualified foreign institutional investors (QFII/RQFII), direct market entry for the interbank bond market, Panda bonds, etc., have all achieved consistency and unity in the rules for managing domestic and foreign currencies. The second aspect is achieving integrated management of domestic and foreign currencies in cross-border business processes. Through business integration, process reengineering, and data sharing, we have achieved "one set of rules, one-stop processing." What we mean by "one set of rules" is that we have established unified rules for domestic and foreign currency cross-border businesses, standardizing data and unifying cross-border rules, thus reducing the operational difficulty of opening bank accounts, payments, and settlements. "One-stop processing" means that for all business registration related to direct investment, portfolio investment, and debt instruments, whether conducted in local or foreign currency, entities can complete procedures at either the foreign exchange regulator or designated banks. This significantly improves processing efficiency. In the next step, we will gradually deepen the integration of domestic and foreign currencies in a broader scope together with the People's Bank of China, further facilitating cross-border trade and investment, and helping to create a better foreign-related business environment. Thank you! July 22, 2025 15:48:03 A reporter from National Business Daily asks a question. (Photographed by Xu Xiang) National Business Daily: We understand that in the first half of the year, foreign investment in RMB-denominated bonds and stocks has generally increased. Could you provide more details on this? Additionally, what is your forecast on foreign capital allocation trends in RMB assets? Thank you! July 22, 2025 15:48:22 Jia Ning: Thank you for your question. Let me first introduce the overall situation of foreign investment in RMB-denominated stocks and bonds recently. Since 2025, foreign investment in RMB assets has remained generally stable. The scale of foreign investment in RMB bonds has risen, and currently, foreign investors hold over USD 600 billion worth of RMB-denominated bonds in China, which is at a historically high level. Recently, foreign investment in domestic stocks has shown a positive trend. In the first half of the year, foreign investors net purchased USD 10.1 billion in domestic stocks and funds, reversing the net reduction trend seen in the past two years. In particular, the net purchase amount increased to USD 18.8 billion in May and June, demonstrating a stronger global capital appetite for the Chinese stock market. We judge that, in the future, foreign investment in RMB assets will still have stable and sustainable growth potential. Currently, foreign investors hold about 3%-4% of the market value of domestic bonds and stocks. Supported by several positive factors, foreign investment in RMB assets is expected to continue to increase gradually. First, the stable economic fundamentals create a stable macro environment for foreign investment in China. With the effects of domestic demand expansion policies becoming visible, the stable and improving economic trend is expected to be further consolidated. Recently, several international investment banks have expressed optimism about China's development opportunities, upgrading their rating of Chinese assets from neutral to overweight. Second, the high-quality development of financial markets creates a favorable policy environment for foreign investment in China. China adheres to high-level opening-up, continuously improving the financial market connectivity mechanisms, expanding investment channels, and optimizing the investment environment, making it significantly easier for foreign investors to participate in the Chinese financial markets. At the same time, China has built a relatively complete and deep financial market system, with the bond and stock markets ranked second globally by market value. The variety of financial products and strong liquidity offer foreign investors diverse options for RMB assets allocation. Third, the global demand for diversified asset allocation creates favorable development opportunities for foreign investment in China. In recent years, international financial market volatility has increased, and investors generally believe that more diversified and dispersed asset allocation is needed globally. The stable value of RMB, along with the independent return performance of RMB assets globally, has made it an important asset for global investors to diversify risks and enhance returns. Recent research by the official forum of international monetary and financial institutions, surveying 75 central banks globally, showed that 30% of central banks plan to increase their RMB assets allocation. Overall, as China continues to push forward with financial reforms and opening-up, its domestic financial market will further integrate into the international financial system, making RMB assets even more attractive. Thank you! July 22, 2025 15:48:40 A reporter from Phoenix Satellite Television asks a question. (Photographed by Xu Xiang) Phoenix Satellite Television: We have noticed that the State Council has recently deployed measures for replicating and promoting the pilot work of free trade zone trials. Could you please share what further actions the foreign exchange bureau will take in this regard? Thank you! July 22, 2025 15:56:12 Li Bin: I will now invite Department Head Xiao Sheng to answer this question. July 22, 2025 15:57:13 Xiao Sheng: Thank you for your attention to the reform work of the free trade zones. SAFE has always attached great importance to the related construction work in the free trade zones and has successively introduced a series of high-level opening-up policies and measures for pilot trials in these zones. In 2022, SAFE launched a pilot program for high-level opening up of cross-border trade and investment in selected areas of the Shanghai, Guangdong, Hainan, and Ningbo free trade zones. Subsequently, some pilot policies were expanded to additional regions including Beijing and Jiangsu Province. Recently, in order to deeply implement the strategy for upgrading the free trade zones and to release more institutional innovation dividends, SAFE plans to promote a batch of innovative policies to more free trade zones across the country. The key measures include the following two aspects. On one hand, we will further expand the pilot program for cross-border trade facilitation policies. The policies in this area mainly include supporting banks to optimize new types of international trade settlements, expanding the net settlement scope of trade revenues and expenditures, facilitating the receipts and payments of foreign exchange for current account items, among a total of five policies. These measures are aimed at optimizing business review methods, reducing document requirements, simplifying processing procedures, and helping enterprises carry out cross-border trade more conveniently. On the other hand, further advancing high-level opening-up in cross-border investment and financing. This includes five policies, such as the foreign exchange management pilot for Qualified Foreign Limited Partners (QFLP), direct foreign debt registration by banks, and shared foreign debt quotas for parent-subsidiary companies in financing leasing. These policies will help diversify cross-border investment and financing channels, improve investment and financing efficiency, stabilize foreign investment, and promote high-level opening-up. For example, the QFLP foreign exchange management pilot policy mainly supports and facilitates foreign long-term capital to invest in industries and enterprises in China through private equity investments, thereby better supporting the development of Chinese enterprises, especially technology-driven companies. In the next step, SAFE will continue to pilot foreign exchange innovation policies in the free trade zones, lead deep reforms and high-level opening-up in the foreign exchange field, continuously improve financial and foreign exchange services, and strengthen cross-border regulatory capabilities under open conditions to support the high-quality development of the real economy. Thank you! July 22, 2025 15:57:31 Xing Huina: Let's continue with the last question. July 22, 2025 15:58:58 A reporter from Securities Times asks a question. (Photographed by Xu Xiang) Securities Times: Given the current complex and changing global economic situation and the many uncertainties in the external environment, how do you view the outlook for China's foreign exchange market in the second half of the year? Thank you! July 22, 2025 15:59:09 Li Bin: Thank you for your question. Under open conditions, a country's foreign exchange market will be affected by both internal and external factors. Overall, the high-quality development of the economy, steady progress in opening-up, and the increasing resilience of the foreign exchange market are three favorable factors that will support the continued stability of China's foreign exchange market, with the RMB exchange rate expected to maintain basic stability at a reasonable and balanced level. First, China's economic fundamentals are sound, and the foundation for a stable foreign exchange market is solid. In the first half of this year, China's GDP grew by 5.3% year-on-year, and the economic structure has been further optimized. In the second quarter, the contribution of domestic demand, including final consumption and capital formation, to economic growth was 77%, which is an increase of 17 percentage points from the previous quarter. China has made expanding domestic demand a long-term strategy, continuously promoting the integration of technological innovation and industrial development. The domestic economy is maintaining a stable and improving trend, which will provide strong support for the stable operation of the foreign exchange market. Second, China continues to expand its high-level opening-up, and the balance of payments maintains a stable, autonomous balance. China adheres to the principles of free trade and multilateralism, with trade and economic cooperation partners in over 150 countries and regions worldwide. Meanwhile, high-standard institutional opening-up will advance steadily, with continued expansion of two-way investment and financing channels in financial markets. This will facilitate coordinated development of foreign trade and cross-border investment while promoting balanced cross-border capital flows. Third, China's foreign exchange market resilience continues to improve, and its ability to cope with external shocks is strengthening. On a macro level, the market-based RMB exchange rate formation mechanism has been continuously improved, and exchange rate flexibility has increased, which can release external pressures and promote supply-demand balance in a timely manner. On a micro level, enterprises' awareness of exchange rate risk neutrality has increased, RMB cross-border transactions have steadily grown, and the hedging ratio of enterprises' foreign exchange risk and the proportion of RMB cross-border receipts and payments in goods trade reached around 30% in the first half of the year, both record highs. The reduction in foreign exchange risk exposure helps the market maintain rational trading. From a policy perspective, the foreign exchange market has accumulated rich experience in counter-cyclical adjustments and has a solid reserve of policy tools. The regulatory effectiveness in the foreign exchange field has steadily improved, and the ability to prevent and resolve risks from external shocks has strengthened. We are confident and capable of continuing to maintain the stable operation of the foreign exchange market. That concludes my answer. Thank you, everyone! July 22, 2025 15:59:32 Xing Huina: That concludes today's press conference. Thank you very much, Deputy Administrator Li Bin and the two department directors. We also appreciate everyone in the media who helped make this possible. Goodbye! July 22, 2025 16:04:51 2025-07-22/en/2025/0722/2328.html
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行政许可项目 项目子项 办事指南 常用表格 外币现钞提取、出境携带、跨境调运核准 （00017110600Y） 银行跨境调运外币现钞核准 （000171106004） 办事指南 银行办理调运外币现钞进出境业务备案表、银行停办调运外币现钞进出境业务备案表 经营或者终止结售汇业务审批 （00017111200Y） “境内非金融机构申请在注册地省级分局和计划单列市分局辖内经营个人兑换业务进入筹备期审批”行政审批办事指南 （000171112003） 办事指南 政策性银行、全国性商业银行以外其他银行总行（含外国银行分行）即期结售汇业务市场准入审批 （000171112004） 办事指南 政策性银行、全国性商业银行以外其他银行总行（含外国银行分行）人民币与外汇衍生产品业务市场准入审批 （000171112005） 办事指南 省级分局办理的银行分行（含农村信用社）即期结售汇业务市场准入审批 （000171112006） 办事指南 银行办理即期结售汇业务备案表 省级分局办理的银行支行（含农村信用社）及下辖机构即期结售汇业务市场准入审批 （000171112007） 办事指南 银行办理即期结售汇业务备案表 银行总行合作办理远期业务市场准入审批 （000171112008） 办事指南 市分局办理的银行分行（含农村信用社）即期结售汇业务市场准入审批 （000171112009） 办事指南 银行办理即期结售汇业务备案表 市分局办理的银行支行（含农村信用社）及下辖机构即期结售汇业务市场准入审批 （000171112010） 办事指南 银行办理即期结售汇业务备案表 “境内非金融机构申请在注册地省级分局和计划单列市分局辖内开办个人兑换业务审批”行政审批办事指南 （000171112017） 办事指南 “境内非金融机构分支机构申请开办个人兑换业务审批”行政审批办事指南 （000171112019） 办事指南 银行总行合作办理掉期业务市场准入审批 （000171112022） 办事指南 金融机构本外币转换核准 （00017111400Y） 银行资本金（营运资金）本外币转换核准 （000171114002） 办事指南 2025-09-12/anhui/2024/0725/2623.html
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2025年7月，我国国际收支货物和服务贸易进出口规模44022亿元，同比增长4%。其中，货物贸易出口22076亿元，进口15484亿元，顺差6593亿元；服务贸易出口2651亿元，进口3811亿元，逆差1160亿元。服务贸易主要项目为：运输服务进出口规模1805亿元，旅行服务进出口规模1793亿元，其他商业服务进出口规模1078亿元，电信、计算机和信息服务进出口规模715亿元。 按美元计值，2025年7月，我国国际收支货物和服务贸易出口3459亿美元，进口2699亿美元，顺差760亿美元。（完） 中国国际收支货物和服务贸易数据 2025年7月 项目 按人民币计值 （亿元） 按美元计值 （亿美元） 货物和服务贸易差额 5433 760 贷方 24728 3459 借方 -19295 -2699 1.货物贸易差额 6593 922 贷方 22076 3088 借方 -15484 -2166 2.服务贸易差额 -1160 -162 贷方 2651 371 借方 -3811 -533 2.1加工服务差额 62 9 贷方 79 11 借方 -16 -2 2.2维护和维修服务差额 46 6 贷方 86 12 借方 -40 -6 2.3运输差额 -289 -40 贷方 758 106 借方 -1047 -146 2.4旅行差额 -1164 -163 贷方 315 44 借方 -1478 -207 2.5建设差额 29 4 贷方 105 15 借方 -76 -11 2.6保险和养老金服务差额 -49 -7 贷方 32 4 借方 -81 -11 2.7金融服务差额 2 0 贷方 27 4 借方 -25 -3 2.8知识产权使用费差额 -283 -40 贷方 71 10 借方 -354 -50 2.9电信、计算机和信息服务差额 223 31 贷方 469 66 借方 -246 -34 2.10其他商业服务差额 295 41 贷方 687 96 借方 -392 -55 2.11个人、文化和娱乐服务差额 -17 -2 贷方 13 2 借方 -31 -4 2.12别处未提及的政府货物和服务差额 -16 -2 贷方 10 1 借方 -26 -4 注： 1. 本表所称国际收支货物和服务贸易与国际收支平衡表中的货物和服务口径一致，是指居民与非居民之间发生的交易。月度数据为初步数据，可能与国际收支平衡表中的季度数据不一致。 2. 国际收支货物和服务贸易数据按美元编制，当月人民币计值数据由美元数据按月均人民币对美元中间价折算得到。 3. 本表计数采用四舍五入原则。 指标解释： 国际收支货物和服务贸易：是指居民与非居民之间发生的货物贸易和服务贸易进出口，与国际收支平衡表的口径相同。 1．货物贸易: 指经济所有权在我国居民与非居民之间发生转移的货物进出口。贷方记录货物出口，借方记录货物进口。货物账户数据主要来源于企业调查，该数据与海关统计存在以下主要区别：一是国际收支中的货物只记录所有权发生了转移的货物（如一般贸易、进料加工贸易等贸易方式的货物），所有权未发生转移的货物（如来料加工或出料加工贸易）不纳入货物统计，而纳入服务贸易统计；二是计价方面，国际收支统计要求进出口货值均按离岸价格记录，海关出口货值为离岸价格，但进口货值为到岸价格，因此国际收支统计从海关进口货值中调出国际运保费支出，并纳入服务贸易统计；三是补充了海关未统计的转手买卖下的货物净出口数据。 2．服务贸易：包括加工服务，维护和维修服务，运输，旅行，建设，保险和养老金服务，金融服务，知识产权使用费，电信、计算机和信息服务，其他商业服务，个人、文化和娱乐服务以及别处未提及的政府服务。贷方记录我国提供的服务，即服务出口；借方记录我国接受的服务，即服务进口。 2.1加工服务：又称“对他人拥有的实物投入的制造服务”，指货物的所有权没有在所有者和加工方之间发生转移，加工方仅提供加工、装配、包装等服务，并从货物所有者处收取加工服务费用。贷方记录我国居民为非居民拥有的实物提供的加工服务。借方记录我国居民接受非居民的加工服务。 2.2维护和维修服务：指居民或非居民向对方所拥有的货物和设备（如船舶、飞机及其他运输工具）提供的维修和保养工作。贷方记录我国居民向非居民提供的维护和维修服务。借方记录我国居民接受的非居民维护和维修服务。 2.3运输：指将人和物体从一地点运送至另一地点的过程以及相关辅助和附属服务，以及邮政和邮递服务。贷方记录居民向非居民提供的国际运输、邮政快递等服务。借方记录居民接受的非居民国际运输、邮政快递等服务。 2.4旅行：指旅行者在其作为非居民的经济体旅行期间消费的物品和购买的服务。贷方记录我国居民向在我国境内停留不足一年的非居民以及停留期限不限的非居民留学人员和就医人员提供的货物和服务。借方记录我国居民境外旅行、留学或就医期间购买的非居民货物和服务。 2.5建设服务：指建筑形式的固定资产的建立、翻修、维修或扩建，工程性质的土地改良、道路、桥梁和水坝等工程建筑，相关的安装、组装、油漆、管道施工、拆迁和工程管理等，以及场地准备、测量和爆破等专项服务。贷方记录我国居民在经济领土之外提供的建设服务。借方记录我国居民在我国经济领土内接受的非居民建设服务。 2.6保险和养老金服务：指各种保险服务，以及同保险交易有关的代理商的佣金。贷方记录我国居民向非居民提供的人寿保险和年金、非人寿保险、再保险、标准化担保服务以及相关辅助服务。借方记录我国居民接受非居民的人寿保险和年金、非人寿保险、再保险、标准化担保服务以及相关辅助服务。 2.7金融服务：指金融中介和辅助服务，但不包括保险和养老金服务项目所涉及的服务。贷方记录我国居民向非居民提供的金融中介和辅助服务。借方记录我国居民接受非居民的金融中介和辅助服务。 2.8知识产权使用费：指居民和非居民之间经许可使用无形的、非生产/非金融资产和专有权以及经特许安排使用已问世的原作或原型的行为。贷方记录我国居民向非居民提供的知识产权相关服务。借方记录我国居民使用的非居民知识产权服务。 2.9电信、计算机和信息服务：指居民和非居民之间的通信服务以及与计算机数据和新闻有关的服务交易，但不包括以电话、计算机和互联网为媒介交付的商业服务。贷方记录本国居民向非居民提供的电信服务、计算机服务和信息服务。借方记录本国居民接受非居民提供的电信服务、计算机服务和信息服务。 2.10其他商业服务: 指居民和非居民之间其他类型的服务，包括研发服务，专业和管理咨询服务，技术、贸易相关等服务。贷方记录我国居民向非居民提供的其他商业服务。借方记录我国居民接受的非居民其他商业服务。 2.11个人、文化娱乐服务:指居民和非居民之间与个人、文化和娱乐有关的服务交易，包括视听和相关服务（电影、收音机、电视节目和音乐录制品），其他个人、文化娱乐服务（健康、教育等）。贷方记录我国居民向非居民提供的相关服务。借方记录我国居民接受的非居民相关服务。 2.12别处未提及的政府货物和服务：指在其他货物和服务类别中未包括的政府和国际组织提供和购买的各项货物和服务。贷方记录我国居民向非居民提供的别处未涵盖的货物和服务。借方记录我国居民向非居民购买的别处未涵盖的货物和服务。 2025-09-12/beijing/2025/0912/2620.html
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为保障公民、法人或其他组织（以下简称申请人）依法申请获取国家外汇管理局福建省分局（以下简称福建省分局）政府信息，根据《中华人民共和国政府信息公开条例》（中华人民共和国国务院令第711号，以下简称《政府信息公开条例》）等规定，结合工作实际，特编制本指引。 一、申请 申请人向福建省分局提出政府信息公开申请，应填写《国家外汇管理局福建省分局政府信息公开申请表》（见附件1，以下简称《申请表》），按照《政府信息公开条例》第二十九条之规定，提供申请公开的政府信息的名称、文号或者便于行政机关查询的其他特征性描述，以及申请公开的政府信息的形式要求，包括获取信息的方式、途径等，并提供有效身份证件或统一社会信用代码证书等相应身份证明复印件。 （一）书面申请。申请人通过信函方式提出申请的，请在信封上注明“政府信息公开申请”字样。申请人也可向福建省分局政府信息公开受理机构（以下简称受理机构）当面提交政府信息公开申请。 （二）口头申请。福建省分局原则上不受理口头申请，采用书面形式确有困难的，申请人可以口头申请，由受理机构代为填写《申请表》，申请人予以签名或盖章确认。 二、受理 福建省分局政府信息公开申请受理机构为福建省分局国际收支处，办公时间为周一至周五上午8:00－11:30，下午14:30－17:30（法定节假日除外）。联系电话：0591－87846947 。通讯地址：福建省福州市鼓楼区五四路220号国家外汇管理局福建省分局国际收支处。邮政编码：350003 。 申请人提出的政府信息公开申请内容不明确的，由受理机构自收到申请之日起7个工作日内一次性告知申请人作出补正，说明需要补正的事项和补正期限。答复期限自受理机构收到补正的申请之日起计算。申请人无正当理由逾期不补正的，视为放弃申请，福建省分局不再处理该政府信息公开申请。 三、答复 受理机构收到政府信息公开申请后，能够当场答复的，应当当场予以答复；不能当场答复的，应当自收到申请之日起20个工作日内予以答复；需要延长答复期限的，经批准后告知申请人，延长的期限最长不得超过20个工作日。 依申请公开的政府信息公开会损害第三方合法权益的，福建省分局应当书面征求第三方的意见。征求意见所需时间不计算在上述规定的期限内。申请人申请公开政府信息的数量、频次明显超过合理范围，受理机构可以要求申请人说明理由。受理机构认为申请理由不合理的，告知申请人不予处理；受理机构认为申请理由合理，但是无法在上述规定的期限内答复申请人的，可以确定延迟答复的合理期限并告知申请人。 对申请公开的政府信息，福建省分局按下列情形予以答复，出具《国家外汇管理局福建省分局政府信息公开告知书》： （一）所申请公开信息已经主动公开的，告知申请人获取该政府信息的方式、途径。 （二）所申请公开信息可以公开的，向申请人提供该政府信息，或者告知申请人获取该政府信息的方式、途径和时间。 （三）申请公开的信息中含有不应当公开或者不属于政府信息的内容，但是能够作区分处理的，福建省分局向申请人提供可以公开的政府信息内容，并对不予公开的内容说明理由。除能够作区分处理外，需要对现有政府信息进行加工、分析的，福建省分局可以不予提供。 （四）申请人提出的申请内容为要求提供属于公报、报刊、书籍等公开出版物的，可以告知获取的途径。 （五）根据《政府信息公开条例》规定决定不予公开的，告知申请人不予公开并说明理由。 （六）经检索没有所申请公开信息的，告知申请人该政府信息不存在。 （七）所申请公开信息不属于福建省分局负责公开的，告知申请人并说明理由；能够确定负责公开该政府信息的行政机关的，告知申请人该行政机关的名称、联系方式。 （八）已就申请人提出的政府信息公开申请作出答复、申请人重复申请公开相同政府信息的，告知申请人不予重复处理。 （九）申请人申请公开政府信息的数量、频次明显超过合理范围且申请理由不合理的，告知申请人不予处理。 （十）申请人以政府信息公开申请的形式进行信访、投诉、举报等活动的，告知申请人不作为政府信息公开申请处理，并视情况可以告知通过相应渠道提出。 （十一）所申请公开信息属于工商、不动产登记资料等信息，有关法律、行政法规对信息的获取有特别规定的，告知申请人依照有关法律、行政法规的规定办理。 对于要求以邮寄以外的方式获取信息的，申请人收到《国家外汇管理局福建省分局政府信息公开告知书》后，应及时填写《国家外汇管理局福建省分局政府信息公开告知书回执》（见附件2），并邮寄至国家外汇管理局福建省分局国际收支处。 申请人有证据证明福建省分局提供的与其自身相关的政府信息记录不准确的，可以要求福建省分局更正。福建省分局无权更正的，可以转送有权更正的行政机关处理并告知申请人，或者告知申请人向有权更正的行政机关提出。 申请人应当合法使用从福建省分局获得的信息，不得利用获得的信息从事违法活动。 附件：1.国家外汇管理局福建省分局政府信息公开申请表 2.国家外汇管理局福建省分局政府信息公开告知书回执 2025-09-12/fujian/2018/0724/676.html
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近日，由中国国家电影局、重庆市政府主办，重庆市电影局、永川区政府共同承办的“2025上合组织国家电影节”在重庆永川盛大举办，来自上合组织成员国和观察员国的官方代表、电影人士，以及国内业界专家、企业代表、高校学者、知名影人等1500余位嘉宾齐聚永川，见证光影盛典。在这场跨越山海的文化邂逅中，优质的外汇金融服务书写了高水平对外开放的注脚，助力了国际文化交流“零障碍”。 精准对接需求，协同联动布好“服务网” 永川分局在重庆市分局的指导下，主动作为，大力支持和配合电影节筹备工作。加强与电影节组委会协调沟通，提前了解来华人士、电影企业、参展商的国别分布，提前掌握电影节活动安排，分析消费支付场景、外卡使用方式和外币兑换需求，聚焦嘉宾入住酒店、影展会场和周边核心商圈，进一步优化境外银行卡受理、外币兑换环境建设，通过增设ATM机外卡取现设备、督导提升银行网点外币现钞兑换服务水平、针对电影节工作人员和服务志愿者开展外汇知识培训等措施，构建了多方式可选择、多场景可应用的便利化支付环境。 创新服务模式，细节优化提升“体验感” 电影节期间，永川分局联合银行机构建立7×24小时外汇服务应急响应机制，在影展会场及主要酒店设立外汇服务绿色通道与咨询热线，摆放“境外来华人员支付指南”。主会场周围银行网点特设的外汇服务专柜配备了精通俄语、英语等多语种的专业人员，配备了实时翻译工具，升级ATM/CRS设备功能，支持VISA、万事达等外卡查询取现，支持包括美元、欧元、卢布等在内的多种外币兑换，并备足小面额现钞，满足资金结算和现钞存取、兑换等需求，成为外籍来华人士的“贴心驿站”。 数据彰显成效，外汇服务保障“见真章” 据统计，电影节期间，永川区重点涉外银行网点及自助设备累计服务外籍人士和国内来宾430人次，办理外币兑换业务58笔、兑换金额折合人民币约41万元。便捷高效的服务赢得了来华嘉宾的充分赞誉，一位上合组织国家成员国电影署署长的家属表示：“中国银行机构的服务太棒了！沟通没有障碍，工作人员非常专业、热情周到，没想到在永川能有这么美好的体验。” 高质量的外汇服务保障，已成为重大国际活动成功举办不可或缺的“软基建”。永川分局此次实践不仅为“2025上合组织国家电影节”贡献了金融力量，也为优化区域涉外营商环境、提升跨境金融服务水平积累了宝贵经验。 2025-09-12/chongqing/2025/0912/3240.html
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国家外汇管理局山西省分局行政许可办理指南 银行办理即期结售汇业务备案表 银行办理调运外币现钞进出境业务备案表 2025-09-12/shanxi/2024/0821/1384.html
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8月28日，外汇局毕节市分局召开2025年下半年外汇管理工作会议，总结上半年外汇管理工作，分析辖区当前外汇形势特点，并对下一阶段工作提出要求。一是坚持党对金融外汇工作的全面领导，党建业务融合更加紧密；二是加大实体经济支持力度，涉外金融服务更加优化；三是推动外汇政策精准落地，跨境投融资更加便利；四是不断完善事中事后监管，风险防控落实更加有力；五是持续夯实基础工作，不断提升外汇履职水平。 2025-09-01/guizhou/2025/0901/1800.html
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国家外汇管理局山西省分局外汇业务咨询电话 2025-07-18/shanxi/2025/0114/1441.html
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国家外汇管理局统计数据显示，2025年7月，中国外汇市场（不含外币对市场，下同）总计成交28.28万亿元人民币（等值3.96万亿美元）。其中，银行对客户市场成交4.06万亿元人民币（等值0.57万亿美元），银行间市场成交24.22万亿元人民币（等值3.39万亿美元）；即期市场累计成交9.47万亿元人民币（等值1.33万亿美元），衍生品市场累计成交18.81万亿元人民币（等值2.63万亿美元）。 2025年1-7月，中国外汇市场累计成交179.15万亿元人民币（等值24.96万亿美元）。 2025-09-12/beijing/2025/0912/2619.html
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国务院新闻办公室于2025年7月22日（星期二）下午3时举行新闻发布会，请国家外汇管理局副局长、新闻发言人李斌介绍2025年上半年外汇收支数据情况，并答记者问。以下为文字实录。 国务院新闻办新闻局副局长、新闻发言人 邢慧娜: 女士们、先生们，大家下午好！欢迎出席国务院新闻办新闻发布会。今天我们继续进行经济数据的例行发布。我们邀请到国家外汇管理局副局长、新闻发言人李斌先生，请他向大家介绍2025年上半年外汇收支数据情况，并回答大家关心的问题。出席今天发布的还有：国家外汇管理局国际收支司司长贾宁先生，资本项目管理司司长肖胜先生。 现在，先请李斌先生作情况介绍。 国家外汇管理局副局长、新闻发言人 李斌: 各位媒体朋友，下午好！感谢大家一直以来对外汇管理工作的关心和支持。利用今天这个机会，我首先向大家介绍一下2025年上半年我国外汇收支的有关情况，然后和我的同事一起回答大家关心的问题。 2025年以来，外部环境更趋复杂多变，单边主义、保护主义抬升，全球经济和跨境贸易增长动能减弱，国际金融市场波动加大。我国加快实施更加积极有为的宏观政策，着力扩大国内需求，有效应对外部挑战，经济运行总体平稳、稳中有进，高质量发展持续巩固。外汇市场平稳运行，展现出较强的韧性和活力，表现好于市场预期。可以概括为五个方面的特点： 一是涉外收支规模稳步增加，这是从总量的角度来看。上半年，企业、个人等非银行部门跨境收入和支出合计7.6万亿美元，同比增长10.4%，规模创历史同期新高，其中，人民币在跨境收支中的比重达到了53%。上半年，银行结汇和售汇规模合计2.3万亿美元，同比增长3%，规模为历史同期次高。这些数据表明，我国跨境贸易和投融资活动继续保持活跃。 二是跨境资金延续净流入，这是从收入和支出的差额看。上半年，企业、个人等非银行部门跨境资金净流入1273亿美元，延续了去年下半年以来的净流入态势，其中，二季度净流入环比增长46%。分项目看，上半年货物贸易项下净流入保持高位，外资总体净增持境内股票和债券，服务贸易、外资企业利润汇出平稳有序。 三是外汇市场供求基本平衡。上半年，银行结售汇逆差253亿美元，但是从月度看表现出明显的变化。其中，1月结售汇为逆差，2-4月趋向基本平衡，5月和6月结售汇转为顺差，企业、个人等主体的交易行为总体理性有序。上半年，衡量结汇意愿的外汇收入结汇率为60%，同比保持稳定；衡量购汇意愿的外汇支出售汇率为65%，同比下降3个百分点。 四是外汇市场交易活跃。上半年，境内人民币外汇市场交易量总计达到21万亿美元，同比增长10.2%。其中，即期和衍生品交易量分别是7.4万亿和13.6万亿美元，占比分别是35%和65%。 五是外汇储备规模稳定。6月末，我国外汇储备余额为33174亿美元，较2024年末增加了1151亿美元。上半年非美货币对美元升值，全球金融资产价格总体上涨，在汇率折算和资产估值变化等因素的综合作用下，我国外汇储备规模稳中有升。 总的来看，上半年，我国外汇市场有力有效应对外部冲击风险，运行总体平稳。下一步，国家外汇局将坚决贯彻落实党中央、国务院决策部署，坚持稳中求进工作总基调，统筹好发展和安全，持续建立健全“更加便利、更加开放、更加安全、更加智慧”的外汇管理体制机制，促进经济高质量发展和高水平开放。以上就是我向大家简要通报的上半年外汇收支情况。下面，我和我的同事非常乐意一起来回答大家关心的问题。谢谢！ 邢慧娜: 现在请大家举手提问，提问前请通报所在的新闻机构。 中国证券报记者: 刚才李局长提到，上半年我国外汇市场表现好于预期，请问能否介绍一下具体情况，外汇局在防范跨境资金流动风险方面有哪些举措？谢谢！ 李斌: 谢谢您对外汇形势的关注，我来回答一下这个问题。今年以来，外汇形势复杂多变，风险挑战明显增加。面对外部冲击，我国外汇市场顶住压力，运行平稳，表现出较强韧性。刚才，我介绍了外汇收支五个方面的特点，下面我再补充三方面内容。 首先，人民币汇率保持基本稳定。今年上半年，人民币兑美元汇率升值1.9%，上半年人民币兑美元汇率在7.15-7.35之间双向浮动，既在合理均衡水平上保持了基本稳定，也发挥了调节宏观经济和国际收支自动稳定器的作用。 其次，外汇市场预期保持平稳。从远期、期权等外汇市场指标来看，当前市场对人民币没有明显升值或者贬值的单边预期。市场交易理性有序，人民币走弱时，企业主体逢高结汇增多；人民币走强时，企业逢低购汇增多，总体上看，没有追涨杀跌这些非理性交易行为。 第三，国际收支保持基本平衡。今年以来，我国经常账户顺差稳中有增，总体处于合理均衡水平。与经常账户顺差相对应，非储备性质金融账户呈现逆差，与经常账户顺差规模大体相当，国际收支呈现出自主平衡格局。来华各类投资总体向好。1-5月份，股权性质来华直接投资净流入311亿美元，同比增长16%；来华证券投资净流入约330亿美元，逆转了去年下半年净流出态势。对外投资有序推进。1-5月份，股权性质的对外直接投资519亿美元，同比基本持平，对外证券投资保持活跃。 外汇管理部门积极防范化解外部冲击风险，着力维护外汇市场平稳健康运行。我们坚持以市场供求为基础、有管理的浮动汇率制度，保持人民币汇率弹性，通过价格机制来促进市场供求平衡。我们持续优化外汇政策供给，深化外汇领域的改革和开放，提升跨境贸易和投融资便利化水平。同时，也强化跨境资金流动监测预警，坚决防范市场单边预期发散，严厉打击外汇领域的违法违规活动，上半年查处外汇违法违规案件超过400起，配合公安机关处罚地下钱庄交易对手案件180多起，切实维护良好的外汇交易秩序。总体看，稳市场、稳预期等政策取得了积极成效。谢谢！ 中央广播电视总台央视记者: 我们知道，作为开放的大型经济体，我国国际收支状况受到了广泛关注，能否介绍一下近年来我国国际收支情况呈现出哪些特点？谢谢！ 李斌: 这个问题涉及国际收支，请贾宁司长来回答。 国家外汇管理局国际收支司司长 贾宁: 感谢您对国际收支的关注。国际收支是对居民和非居民之间各类经济交易的汇总和记录。其中，经常账户记录跨境货物贸易、服务贸易和投资收益情况，资本和金融账户记录跨境投资和融资情况。通过国际收支平衡表和国际投资头寸表，可以全面反映一国对外经济发展和经济内外部平衡状况。围绕近年来我国经常账户、资本和金融账户的变化，我与大家交流两方面的情况： 第一，近年来，我国经常账户运行稳健。首先，货物贸易顺差是我国经常账户顺差的主要来源。2020年以来我国货物贸易顺差增加，与内外部因素变化有关。近年来全球商品需求增加，2020-2024年全球商品进口年均增长5.8%，高于2015-2019年年均0.7%的增长水平。受此带动，我国出口增长较快，进口亦呈现增长态势。初步统计，今年上半年，国际收支口径的货物进出口同比增长2.4%。其次，服务贸易更加活跃，逆差总体收窄。我国计算机信息服务、商业服务等生产性服务贸易的国际竞争力提升，同时我国持续优化外籍来华人员服务，扩大签证便利化，外籍来华旅行热度提升。受此支撑，近年来，我国服务贸易收入稳步扩大，支出平稳增长，逆差总体收窄。今年上半年，服务贸易收入同比增长13%，其中跨境旅行收入增长42%，服务贸易支出增长2%，服务贸易逆差下降14%。再就是，我国投资收益逆差从2022年高位逐步回落，也有助于促进经常账户稳定。今年1-5月，投资收益表现继续向好，外资在华投资收益同比增长17%，我国对外投资收益增长12%，投资收益逆差基本稳定。 近三年，我国经常账户顺差与国内生产总值（GDP）的比值在2%左右，今年一季度经常账户顺差为1654亿美元，初步估计二季度顺差有所收窄，经常账户顺差与GDP的比值总体看处于合理均衡区间。 第二，我国资本和金融账户逆差相应形成对外资产积累，国际收支保持自主平衡。经常账户顺差意味着我国通过出口商品等从境外获得资金流入，境外机构来华直接投资（FDI）以及购买境内股票和债券等也会带来资金流入。同时，国内企业和金融机构等各类主体也会有对外投资等资金运用，由此形成对外资产。从宏观整体和国际收支平衡的视角看，经常账户顺差增长，必然会对应资本和金融账户逆差扩大，因此不能将资本和金融账户逆差扩大简单地理解为资本流出压力增大。从我国的情况来看，近年来资本和金融账户逆差扩大主要是境内主体对外投资增加，外资来华投资总体仍然保持净流入。 境外机构各类来华投资形成了我国的对外负债，而国内各类主体对外投资又形成了我国的对外资产。截至今年3月末，我国对外负债7.1万亿美元，反映了我们利用外资和吸引境外持有人民币资产的成效。同期，我国对外资产10.7万亿美元，资产类型和持有主体多元，资产与负债相抵后，净资产为3.6万亿美元，这也是我国积极参与国际经济大循环发展成果的反映。 展望未来，我国经济结构持续优化，经济内外部平衡态势更加稳固，金融市场双向开放稳步推进，将支撑国际收支保持基本平衡。我先介绍这么多，我们每年3月末和9月末会在国家外汇局官网发布《中国国际收支报告》，欢迎大家查阅，谢谢！ 大众新闻大众日报记者: 我们了解到，外汇局持续推进跨境贸易和投融资便利化，请问上半年的成效如何？给企业带来的便利主要体现在哪些方面？谢谢！ 李斌: 谢谢您的提问，我来回答一下这个问题。您刚才的问题涉及到很多外资外贸企业，我们一直在努力提升跨境贸易和投资融资便利性。近年来，国家外汇局坚持金融服务实体经济根本宗旨，不断深化外汇领域改革开放，持续加强高质量外汇政策供给，促进外贸和外资稳健发展。我想围绕您刚才问的问题，从三个方面介绍一下上半年的工作情况。 第一，扩大贸易便利化政策覆盖面。推进跨境贸易高水平开放试点和优质企业贸易外汇收支便利化政策，将更多“专精特新”等中小企业纳入到便利化政策范畴，上半年全国共办理相关便利化业务达到7000多亿美元，同比增长11%。积极支持跨境电商、外贸综合服务等新业态的发展，鼓励更多银行和支付机构转变传统贸易审核方式，通过科技赋能，批量自动审核电子订单，为中小微跨境电商经营主体来提供高效、便捷、安全的外汇资金结算服务。上半年全国办理了上述相关业务达到5.1亿笔。 第二，推进跨境投资和融资便利化。这里面有这么几个方面，首先，提升外商来华投资便利性。2024年末，我们在19地试点取消外商投资企业境内再投资登记，惠及600多家企业，有效提高企业资金使用效率。取消外商来华投资前期费用登记，外国投资者在境内设立外商投资企业时，可以直接在银行开立账户接收前期费用资金，由此大幅缩短资金周转时间，加快投资落地，有关政策已经公开征求意见。其次，便利跨国公司在境内外成员企业之间调配、管理资金。今年3月，将跨国公司本外币一体化资金池业务试点地区进一步扩大到天津、湖北、新疆、厦门等16个省市，并允许跨国公司在银行直接办理部分资本项目变更业务，据反馈，可以缩短约50%的业务办理时间。我们还在6月发放了30.8亿美元的合格境内机构投资者（QDII）投资额度，以更好满足人民群众投资境外金融产品的需求。 第三，稳步拓展外汇展业改革成效。通过外汇展业改革，把银行识别客户、审核资料、监测风险等业务“前置”，支持银行对优质的一类客户实行凭企业指令即可办理外汇业务，改变了以往需逐笔审核单证的办理方式，业务办理平均时间缩短50%以上，为企业带来了实实在在的便利，并减轻了银行事中审核压力。今年上半年，新增6家银行启动外汇展业改革，到目前为止，参与改革的银行总数已经达到22家，机构类型覆盖国有大型商业银行、全国性股份制商业银行、城市商业银行和外资银行，业务范围拓展到全国。参与银行目前共评定出一类客户2万多家，这比2024年末增加23%，今年以来为客户凭指令即可办理跨境收支业务超过2000亿美元。 下一步，国家外汇局将加强外汇管理改革创新，赋予诚信合规主体更高便利度，不断提高企业和群众的获得感。 我先回答这么多，谢谢！ 经济日报记者: 最近我们关注到《国家外汇局关于深化跨境投融资外汇管理改革有关事宜的通知（征求意见稿）》已经完成公开征求意见，能否请您介绍一下相关的情况以及后续的安排？谢谢！ 李斌: 这个问题请资本司肖胜司长回答。 国家外汇管理局资本项目管理司司长 肖胜: 谢谢您的问题。近日，朱鹤新局长宣布了多项支持性的改革政策。您问到的通知也是落实上述政策的举措之一，包括投资、融资和支付等三个方面9项措施，其中部分措施前期已经在部分地区进行试点，并取得了较好的效果，这次改革将推广到全国。这里我重点介绍以下3项政策情况。 第一个政策是便利科研机构接收境外资金，我们通常简称为“科汇通”。就是允许境内科研机构在银行办理基本信息登记后，即可接收境外汇入的资金并使用。前期，北京、合肥、武汉、深圳等16个城市实施“科汇通”试点，取得了良好效果。这次改革将会把改革的试点进一步推广到全国，进一步畅通境外资金汇入渠道，为推动国际科研合作提供有效政策支持。 第二个政策是便利科创企业跨境融资。前期，我们在全国针对科创企业实施了跨境融资便利化试点，其中广东、四川等17个省市符合条件的科创企业可以在1000万美元额度内自主借用外债，其他省市的额度为500万美元。这次改革将科创企业自主借用外债的额度统一提高到1000万美元，部分依托“创新积分制”优中选优企业的便利化额度提升至2000万美元。这将进一步便利科创企业拓宽融资渠道，有效支持科创企业更好利用国内国际两个市场融资，降低融资成本，提高融资效率。 第三个政策是便利外商投资企业境内再投资。在前期试点基础上，准备在全国范围内全面取消外商直接投资境内再投资登记，便利外商投资企业将再投资资金直接划转至相关账户，减少企业的操作成本和资金的流转时间，提高投资效率。 目前，这个通知公开征求意见的阶段已经结束，我们正在抓紧梳理研究收集到的意见和建议，后续将在充分吸收各方意见的基础上尽快正式发布。谢谢！ 中央广播电视总台央广网记者: 近年来，外汇管理部门推出本外币一体化资金池等政策，我们感受到本外币一体化管理成为跨境资金流动管理的一个方向，请问在推进本外币一体化方面有什么考虑？谢谢！ 李斌: 谢谢您对外汇管理工作的关心和关注，我来回答您的问题。近年来，跨境贸易和投融资活动更加活跃，人民币跨境使用逐步增多，对本外币交易协同管理提出了更高要求。对企业等经营主体而言，本外币跨境收付都是计价结算工具，只是币种选择不同，本质上都是国际偿付手段。明确“相同业务、相同管理”要求，可以让银行、企业更好理解执行政策，也可以让跨境资金运营管理更加高效便捷。为此，国家外汇局与中国人民银行等部门密切协作，在政策制定和实施中，积极探索本外币一体化管理和业务流程整合。 第一个方面，在政策制定中体现本外币一体化思路。我给大家举几个例子。比如，对跨国公司本外币一体化资金池，我们逐步构建起标准和规则一致的资金池政策，以整合本币和外币资金池，更好满足跨国公司本外币跨境资金管理需求。比如，境内企业境外上市资金管理政策，允许企业对在境外上市募集资金、股份减持和转让所得可以自由选择以人民币或者外币调回，由此可以助力企业高效融资、灵活用资。再比如，对合格境外机构投资者（QFII/RQFII）、银行间债券市场直接入市、熊猫债等业务的资金管理政策，均实现了本外币管理规则的一致性和统一性。 第二个方面，在跨境业务流程中实现本外币一体化管理。我们通过业务整合、流程再造和数据共享，实现“一套规则、一站办理”。所谓“一套规则”就是，对本外币跨境业务构建统一规则，实现数据标准、跨境规则的统一，由此降低银行账户开立、支付结算等业务的操作难度。“一站办理”是指，无论是使用本币或外币，在办理直接投资、证券投资和债权债务业务登记时，均可在外汇局或银行实现一站式办理，有效提高了业务办理效率。 下一步，我们将会同中国人民银行在更大范围内逐步深化本外币一体化管理，进一步促进跨境贸易和投融资便利化，助力营造更加良好的涉外营商环境。谢谢！ 每日经济新闻记者: 我们了解到，上半年外资购买人民币债券和股票总体是增多的，想问一下，您能否介绍一下相关的情况？另外，对外资配置人民币资产走势有什么判断？谢谢！ 贾宁: 谢谢您的提问，我先介绍一下近期外资配置人民币股票和债券的总体情况。2025年以来，外资配置人民币资产总体较为稳定。外资投资人民币债券规模上升，目前外资持有境内人民币债券存量超过6000亿美元，处于历史较高水平。近期外资投资境内股票总体向好，上半年外资净增持境内股票和基金101亿美元，扭转了过去两年总体净减持态势。尤其是五六月份净增持规模增加至188亿美元，显示全球资本配置境内股市的意愿增强。 我们判断，未来外资配置人民币资产仍具有较稳定和可持续增长空间。目前境外投资者持有境内债券、股票的市值占比约为3%-4%左右，受多重积极因素支撑，预计外资仍会逐步增配人民币资产。 首先，经济基本面稳健为外资投资中国创造了稳定宏观环境。随着扩内需政策效果显现，经济稳中向好态势有望进一步巩固。近期，多家国际投行表示看好中国发展机遇，将中国资产评级由中性上调至超配。 其次，金融市场高质量发展为外资投资中国创造了良好政策环境。我国坚持高水平对外开放，不断完善金融市场互联互通机制，拓展投资渠道、优化投资环境，外资参与中国金融市场的便利性明显提升。同时，我国已建成比较齐全和有深度的金融市场体系，债券、股票市场的市值均位居全球第二，金融产品丰富、流动性强，为外资配置人民币资产提供了多样化选择。 第三，全球资产多元化配置需求为外资投资中国创造了良好发展机遇。近年来，国际金融市场波动加大，投资者普遍认为，需要在全球开展更加多样化、分散化的资产配置。人民币币值稳定，人民币资产在全球范围内具有比较独立的收益表现，已成为全球投资者分散风险的重要资产和增厚收益的重要配置标的。近期国际货币金融机构官方论坛对全球75家央行调研结果显示，30%的央行表示将增配人民币资产。 总体看，随着我国金融改革开放持续推进，境内金融市场将进一步融入国际金融体系，人民币资产将更具吸引力。谢谢！ 凤凰卫视记者: 我们关注到，近期国务院部署自贸试验区试点措施的复制推广工作，请问外汇局在这方面下一步还有哪些举措？谢谢！ 李斌: 请肖胜司长来回答这个问题。 肖胜: 谢谢您对自贸试验区改革工作的关注。国家外汇局一直以来高度重视自贸试验区的相关建设工作，先后出台了一系列在自贸试验区先行先试的高水平开放政策举措。2022年，国家外汇局在上海、广东、海南、宁波等四地自贸试验区的部分片区开展了跨境贸易投资高水平开放试点，之后又将部分试点政策扩大至北京、江苏等省市。 近期，为深入实施自贸试验区提升战略，更大范围释放制度创新红利，国家外汇局计划将一批创新政策推广至全国更多自贸试验区。主要包括以下两方面内容： 一方面，进一步扩大跨境贸易便利化政策试点。这方面政策主要包括支持银行优化新型国际贸易结算、扩大贸易收支轧差净额结算范围、便利经常项目外汇资金收付等5项政策，主要是优化业务审核方式，减少单证要求，简化办理流程，支持企业更加便捷地开展跨境贸易。 另一方面，进一步推进跨境投资和融资高水平开放。这方面政策包括合格境外有限合伙人（QFLP）外汇管理试点，外债登记由银行直接办理，融资租赁母子公司共享外债额度等5项政策，这些政策有利于进一步丰富跨境投融资渠道，提高投融资效率，助力稳外资和推动高水平开放。比如，合格境外有限合伙人外汇管理试点政策，主要是进一步支持和便利境外长期资金通过私募股权投资的方式来华开展产业、实业投资，从而更好助力我国企业尤其是科技型企业发展。 下一步，国家外汇局将继续在自贸试验区先行先试外汇创新政策，引领外汇领域深层次改革和高水平开放，持续提升金融外汇服务水平，同时加强开放条件下的跨境监管能力建设，服务实体经济高质量发展。谢谢！ 邢慧娜: 继续举手提问，最后一个问题。 证券时报记者: 请问，当前全球经济形势依然复杂多变，外部环境面临诸多不确定性，如何看待下半年我国外汇市场走势？谢谢！ 李斌: 感谢您的提问。在开放条件下，一国外汇市场会受到内外部多重因素的影响。总的来看，经济高质量发展、对外开放稳步推进、外汇市场韧性不断增强，这三个有利因素将支持我国外汇市场继续保持平稳运行，人民币汇率有条件在合理均衡水平上保持基本稳定。 首先，我国经济基本面稳健，外汇市场稳定运行基础坚实。今年上半年，我国国内生产总值（GDP）同比增长5.3%，经济结构更加优化。二季度最终消费、资本形成总额等内需对国内经济增长的贡献度为77%，环比提高17个百分点。我国把扩大内需作为长期战略，持续推动科技创新和产业创新融合发展，国内经济保持稳中向好，将为外汇市场稳定运行提供坚实支撑。 第二，我国持续扩大高水平对外开放，国际收支自主平衡格局稳固。我国坚持维护自由贸易和多边主义，经贸合作伙伴遍布全球150多个国家和地区。同时，高水平制度型开放将稳步推进，金融市场双向投融资渠道持续拓宽，有助于推动对外贸易和跨境投资协调发展，促进跨境资金均衡流动。 第三，我国外汇市场韧性不断提升，应对外部冲击能力增强。从宏观层面看，人民币汇率市场化形成机制不断完善，汇率弹性增强，可以及时释放外部压力，促进供求平衡。从微观层面看，企业汇率风险中性意识不断提高，人民币跨境交易稳步增长，上半年企业外汇套期保值比率、货物贸易项下人民币跨境收支占比均达到30%左右，都是历史新高。外汇风险敞口降低，有助于市场保持理性交易。从政策层面看，外汇市场积累了比较丰富的逆周期调节经验，也有丰富的政策工具储备，外汇领域监管效能稳步提升，防范化解外部冲击风险的能力不断增强。我们有信心、有能力继续维护外汇市场稳健运行。 我就回答这些，谢谢大家！ 邢慧娜: 今天的发布会就到这里。感谢李斌副局长和两位司长，感谢各位媒体的参与。大家再见！ 2025-08-15/zhejiang/2025/0815/2222.html