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Recently, the State Administration of Foreign Exchange (SAFE) releases data on China's external portfolio investment assets by country/region and by sector of resident holder at the end of June 2023. The statistics show that China's external portfolio investment assets (excluding reserve assets) amounted to USD 1081.7 billion by the end of June 2023, including USD 606.3 billion in equity investments and USD 475.4 billion in bond investments. The top 5 recipients of Chinese investments were Hong Kong SAR, the United States, Cayman Islands, the British Virgin Islands and the United Kingdom, with the amounts being USD 428.6 billion, USD 237.9 billion, USD 99.5 billion, USD 70.3 billion and USD 36.6 billion respectively. By the end of June 2023, other financial corporations (non-bank financial institutions), bank and non-financial sector were the main sectors holding external portfolio investment assets, with the amounts being USD 591.8 billion, USD 368.3 billion and USD 121.6 billion respectively, accounting for 55 percent, 34 percent and 11 percent of China’s total external portfolio investment assets. (End) 2023-11-24/en/2023/1124/2149.html
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According to the statistics of the State Administration of Foreign Exchange (SAFE), the Chinese foreign exchange market (excluding foreign currency pairs, the same below) recorded total transactions of RMB 16.24 trillion (equivalent to USD 2.26 trillion) in October 2023. In terms of markets, the transactions volume of client market was RMB 2.71 trillion (equivalent to USD 0.38 trillion), and the transactions volume of interbank market was RMB 13.53 trillion (equivalent to USD 1.88 trillion). In terms of products, the cumulative transactions volume of the spot market was RMB 4.08 trillion (equivalent to USD 0.57 trillion), and that of the derivatives market was RMB 12.16 trillion (equivalent to USD 1.69 trillion). From January to October 2023, a total of RMB 209.15 trillion (equivalent toUSD 29.76 trillion) was traded inthe Chinese foreign exchange market. 2023-11-24/en/2023/1124/2148.html
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According to the statistics of the State Administration of Foreign Exchange (SAFE), the Chinese foreign exchange market (excluding foreign currency pairs, the same below) recorded total transactions of RMB 19.12 trillion (equivalent to USD 2.66 trillion) in September 2023. In terms of markets, the transactions volume of client market was RMB 3.20 trillion (equivalent to USD 0.45 trillion), and the transactions volume of interbank market was RMB 15.92 trillion (equivalent to USD 2.22 trillion). In terms of products, the cumulative transactions volume of the spot market was RMB 5.85 trillion (equivalent to USD 0.81 trillion), and that of the derivatives market was RMB 13.27 trillion (equivalent to USD 1.85 trillion). From January to September 2023, a total of RMB 192.90 trillion (equivalent to USD 27.49 trillion) was traded in the Chinese foreign exchange market. 2023-10-27/en/2023/1027/2144.html
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In the second quarter of 2024, China's current account registered a surplus of RMB 389.9 billion, including a surplus of RMB 1187.7 billion under trade in goods, a deficit of RMB 438.1 billion under trade in services, a deficit of RMB 378.6 billion under primary income and a surplus of RMB 18.9 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of RMB 389.9 billion. In the first half of 2024, China's current account registered a surplus of RMB 671.3 billion, including a surplus of RMB 2059.2 billion under trade in goods, a deficit of RMB 878.2 billion under trade in services, a deficit of RMB 553.3 billion under primary income, and a surplus of RMB 43.6 billion under secondary income. The capital and financial accounts (including net errors and omissions for the second quarter) recorded a deficit of RMB 924.9 billion. In the US dollar terms, in the second quarter of 2024, China's current account registered a surplus of USD 54.9 billion, including a surplus of USD 167.1 billion under trade in goods, a deficit of USD 61.7 billion under trade in services, a deficit of USD 53.2 billion under primary income and a surplus of USD 2.7 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of USD 54.9 billion. In the US dollar terms, in the first half of 2024, China's current account recorded a surplus of USD 94.1 billion, including a surplus of USD 288.4 billion under trade in goods, a deficit of USD 122.9 billion under trade in services, a deficit of USD 77.5 billion under primary income, and a surplus of USD 6.1 billion under secondary income. The capital and financial accounts (including net errors and omissions for the second quarter) recorded a deficit of USD 129.3 billion. In SDR terms, in the second quarter of 2024, China's current account registered a surplus of SDR 41.5 billion, including a surplus of SDR 126.5 billion under trade in goods, a deficit of SDR 46.7 billion under trade in services, a deficit of SDR 40.3 billion under primary income and a surplus of SDR 2.0 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of SDR 41.5 billion. In SDR terms, in the first half of 2024, China posted a surplus of SDR 71.0 billion under the current account, including a surplus of SDR 217.7 billion under trade in goods, a deficit of SDR 92.7 billion under trade in services. The capital and financial accounts (including net errors and omissions for the second quarter) recorded a deficit of SDR 97.5 billion. (End) China's Balance of Payments, Q2 2024 (Preliminary Data) Item Line No. RMB 100 million USD 100 million SDR 100 million 1. Current account 1 3899 549 415 Credit 2 71228 10021 7589 Debit 3 -67329 -9473 -7174 1. A Goods and Services 4 7496 1054 798 Credit 5 65129 9163 6939 Debit 6 -57633 -8109 -6141 1.A.a Goods 7 11877 1671 1265 Credit 8 58882 8284 6274 Debit 9 -47005 -6614 -5009 1.A.b Services 10 -4381 -617 -467 Credit 11 6247 879 666 Debit 12 -10628 -1495 -1132 1.A.b.1 Processing services 13 203 29 22 Credit 14 221 31 24 Debit 15 -18 -3 -2 1.A.b.2 Maintenance and Repair Services 16 47 7 5 Credit 17 188 26 20 Debit 18 -141 -20 -15 1.A.b.3 Transport 19 -1173 -165 -125 Credit 20 1805 254 192 Debit 21 -2977 -419 -317 1.A.b.4 Travel 22 -3511 -494 -374 Credit 23 673 95 72 Debit 24 -4184 -589 -446 1.A.b.5 Construction 25 96 13 10 Credit 26 258 36 27 Debit 27 -162 -23 -17 1.A.b.6 Insurance and Pension Services 28 -187 -26 -20 Credit 29 57 8 6 Debit 30 -244 -34 -26 1.A.b.7 Financial Services 31 11 1 1 Credit 32 69 10 7 Debit 33 -58 -8 -6 1.A.b.8 Charges for the Use of Intellectual Property 34 -669 -94 -71 Credit 35 207 29 22 Debit 36 -876 -123 -93 1.A.b.9 Telecommunications, Computer, and Information Services 37 372 52 40 Credit 38 1003 141 107 Debit 39 -631 -89 -67 1.A.b.10 Other Business Services 40 509 72 54 Credit 41 1713 241 183 Debit 42 -1204 -169 -128 1.A.b.11 Personal, Cultural, and Recreational Services 43 -57 -8 -6 Credit 44 26 4 3 Debit 45 -83 -12 -9 1.A.b.12 Government Goods and Services n.i.e 46 -23 -3 -2 Credit 47 26 4 3 Debit 48 -49 -7 -5 1.B Primary Income 49 -3786 -532 -403 Credit 50 5508 775 587 Debit 51 -9294 -1307 -990 1.C Secondary Income 52 189 27 20 Credit 53 591 83 63 Debit 54 -402 -57 -43 2. Capital and Financial Accounts (Including Net Errors and Omissions for the Quarter) 55 -3899 -549 -415 2.1 Capital Account 56 -7 -1 -1 Credit 57 1 0 0 Debit 58 -8 -1 -1 2.2. Financial Account (Including Net Errors and Omissions for the Quarter) 59 -3893 -548 -415 2.2.1 Financial Account (Excluding Reserve Assets, But Including Net Errors and Omissions for the Quarter) 60 -7299 -1027 -778 Including: 2.2.1.1 Direct Investment 61 -6083 -856 -648 2.2.1.1.1 Assets 62 -5033 -708 -536 2.2.1.1.1.1 Equity and investment fund shares 63 -2843 -400 -303 2.2.1.1.1.2 Debt instruments 64 -2190 -308 -233 2.2.1.1.2 Liabilities 65 -1050 -148 -112 2.2.1.1.2.1 Equity and investment fund shares 66 517 73 55 2.2.1.1.2.2 Debt instruments 67 -1568 -220 -167 2.2.2 Reserve Assets 68 3406 479 363 2.2.2.1 Monetary gold 69 0 0 0 2.2.2.2 Special drawing rights 70 3 0 0 2.2.2.3 Reserve position in the IMF 71 7 1 1 2.2.2.4 Foreign exchange reserves 72 3397 478 362 2.2.2.5 Other reserves 73 0 0 0 3. Net Errors and Omissions 74 / / / Note:1. The table is compiled according to BPM6. 2."Credit" is presented as positive value while "debit" as negative value, and the balance is the sum of the "Credit" and the "Debit". All items herein refer to balances, unless marked with "Credit" or "Debit". 3.The RMB denominated BOP statement is converted from the USD denominated BOP statement for the quarter using the period average central parity rate of RMB against USD. The SDR denominated quarterly BOP statement is converted from the USD denominated BOP statement for the quarter using the period average exchange rate of SDR against USD. 4.Since net errors and omissions are included, the amount of the capital and financial accounts is the opposite number of the difference in the current account. 5.According to preliminary statistics, in the second quarter of 2024, the equity other than reinvestment of earnings under direct investment liabilities (credit) was USD 19.7 billion (RMB 140.2 billion). 6.This table employs rounded-off numbers. China's Balance of Payments, First Half of 2024 (Preliminary Data) Item Line No. RMB 100 million USD 100 million SDR 100 million 1. Current account 1 6713 941 710 Credit 2 135851 19013 14350 Debit 3 -129138 -18072 -13640 1. A Goods and Services 4 11810 1655 1250 Credit 5 125583 17575 13264 Debit 6 -113773 -15920 -12014 1.A.a Goods 7 20592 2884 2177 Credit 8 112865 15796 11921 Debit 9 -92273 -12912 -9744 1.A.b Services 10 -8782 -1229 -927 Credit 11 12719 1779 1343 Debit 12 -21501 -3008 -2270 1.A.b.1 Processing services 13 398 56 42 Credit 14 436 61 46 Debit 15 -37 -5 -4 1.A.b.2 Maintenance and Repair Services 16 111 16 12 Credit 17 359 50 38 Debit 18 -248 -35 -26 1.A.b.3 Transport 19 -2615 -366 -276 Credit 20 3398 476 359 Debit 21 -6013 -841 -635 1.A.b.4 Travel 22 -7377 -1032 -779 Credit 23 1232 173 130 Debit 24 -8609 -1204 -909 1.A.b.5 Construction 25 310 43 33 Credit 26 618 86 65 Debit 27 -308 -43 -33 1.A.b.6 Insurance and Pension Services 28 -433 -60 -46 Credit 29 102 14 11 Debit 30 -534 -75 -56 1.A.b.7 Financial Services 31 21 3 2 Credit 32 144 20 15 Debit 33 -123 -17 -13 1.A.b.8 Charges for the Use of Intellectual Property 34 -1133 -159 -120 Credit 35 508 71 54 Debit 36 -1641 -230 -173 1.A.b.9 Telecommunications, Computer, and Information Services 37 715 100 76 Credit 38 2133 298 225 Debit 39 -1418 -198 -150 1.A.b.10 Other Business Services 40 1371 192 144 Credit 41 3682 515 389 Debit 42 -2311 -323 -244 1.A.b.11 Personal, Cultural, and Recreational Services 43 -106 -15 -11 Credit 44 53 7 6 Debit 45 -160 -22 -17 1.A.b.12 Government Goods and Services n.i.e 46 -45 -6 -5 Credit 47 54 8 6 Debit 48 -99 -14 -10 1.B Primary Income 49 -5533 -775 -586 Credit 50 9016 1263 954 Debit 51 -14549 -2038 -1540 1.C Secondary Income 52 436 61 46 Credit 53 1251 175 132 Debit 54 -815 -114 -86 2. Capital and Financial Accounts (Including Net Errors and Omissions for the Quarter) 55 -9249 -1293 -975 2.1 Capital Account 56 -8 -1 -1 Credit 57 5 1 1 Debit 58 -13 -2 -1 2.2. Financial Account (Including Net Errors and Omissions for the Quarter) 59 -9241 -1292 -974 2.2.1 Financial Account (Excluding Reserve Assets, But Including Net Errors and Omissions for the Quarter) 60 -9530 -1337 -1011 Including: 2.2.1.1 Direct Investment 61 -8074 -1133 -856 2.2.1.1.1 Assets 62 -7758 -1087 -821 2.2.1.1.1.1 Equity and investment fund shares 63 -4664 -653 -493 2.2.1.1.1.2 Debt instruments 64 -3094 -434 -328 2.2.1.1.2 Liabilities 65 -316 -46 -35 2.2.1.1.2.1 Equity and investment fund shares 66 1876 262 197 2.2.1.1.2.2 Debt instruments 67 -2192 -308 -232 2.2.2 Reserve Assets 68 289 45 37 2.2.2.1 Monetary gold 69 0 0 0 2.2.2.2 Special drawing rights 70 31 4 3 2.2.2.3 Reserve position in the IMF 71 0 0 0 2.2.2.4 Foreign exchange reserves 72 258 41 33 2.2.2.5 Other reserves 73 0 0 0 3. Net Errors and Omissions 74 2536 352 265 Note:1. The table is compiled according to BPM6. 2."Credit" is presented as positive value while "debit" as negative value, and the balance is the sum of the "Credit" and the "Debit". All items herein refer to balances, unless marked with "Credit" or "Debit". 3.The RMB denominated BOP statement is converted from the USD denominated BOP statement for the quarter using the period average central parity rate of RMB against USD. The SDR denominated quarterly BOP statement is converted from the USD denominated BOP statement for the quarter using the period average exchange rate of SDR against USD. 4.The preliminary amount for the first half of 2024 is the sum of the official amounts of the BOP for 2024Q1 and the preliminary amount for 2024Q2. 5.According to preliminary statistics, in the first half of 2024, the equity other than reinvestment of earnings under direct investment liabilities (credit) was USD 40.8 billion (RMB 291.4 billion). 6.This table employs rounded-off numbers. 2024-08-09/en/2024/0809/2223.html
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In July 2024, the export and import of China’s international trade in goods and services totalled RMB 4235.2 billion, up 12 percent over the same time last year. Of this, the export of goods recorded RMB 2035.4 billion and the import recorded RMB 1603.9 billion, resulting in a surplus of RMB 431.6 billion. The export of services recorded RMB 228.8 billion and the import recorded RMB 367.1 billion, resulting in a deficit of RMB 138.2 billion. In terms of the major items, the export and import of travel, transport, other business services, telecommunications, computer and information services registered RMB 178.9 billion, RMB 165.4 billion, RMB 102.1 billion and RMB 64.8 billion respectively. In the US dollar terms, in July 2024, the export and import of China’s international trade in goods and services were USD 317.5 billion and USD 276.4 billion respectively, with a surplus of USD 41.1 billion.(End) International Trade in Goods and Services of China July 2024 Item In 100 million of RMB In 100 million of USD Goods and services 2933 411 Credit 22643 3175 Debit -19709 -2764 1. Goods 4316 605 Credit 20354 2854 Debit -16039 -2249 2. Services -1382 -194 Credit 2288 321 Debit -3671 -515 2.1Manufacturing services on physical inputs owned by others 67 9 Credit 75 10 Debit -7 -1 2.2Maintenance and repair services n.i.e 21 3 Credit 64 9 Debit -43 -6 2.3Transport -297 -42 Credit 679 95 Debit -975 -137 2.4Travel -1329 -186 Credit 230 32 Debit -1559 -219 2.5Construction 26 4 Credit 73 10 Debit -47 -7 2.6Insurance and pension services -53 -7 Credit 14 2 Debit -67 -9 2.7Financial services 7 1 Credit 29 4 Debit -21 -3 2.8Charges for the use of intellectual property -204 -29 Credit 65 9 Debit -269 -38 2.9Telecommunications, computer and information services 146 20 Credit 397 56 Debit -251 -35 2.10Other business services 268 38 Credit 645 90 Debit -376 -53 2.11Personal, cultural, and recreational services -25 -3 Credit 10 1 Debit -34 -5 2.12Government goods and services n.i.e -11 -2 Credit 9 1 Debit -20 -3 Notes: 1. The international trade in goods and services in this table refers to the transactions between residents and non-residents, based on the same standard as that for BOP statement. The monthly data are preliminary and may be inconsistent with the quarterly data in the BOP statement. 2. The data on international trade in goods and services are prepared in USD, and the RMB data for the current month is derived by converting the USD data at the monthly average central parity rate of the RMB against the USD. 3. This table employs rounded-off numbers. Definition of Indicators: Goods and Services: refers to the trade in goods and services between residents and non-residents, which is based on the same standard as that for the BOP statement. 1. Goods: refers to transactions in goods whereby the economic ownership is transferred between the Chinese residents and non-residents. The credit side records export of goods, while the debit side records import of goods. The data of goods account are mainly from the customs statistics of imports and exports, but differ from the statistics of the customs mainly in the following aspects: first, the goods in the BOP statement only reflect the goods whose ownership has been transferred (e.g. goods under the trade modes such as general trade and processing trade with imported materials), while the goods whose ownership is not transferred (e.g. manufacturing services with supplied materials or with exported materials) are included in the statistics of trade in services instead of the statistics of trade in goods; second, as required by the BOP statistics, the goods imported and exported are valued on the FOB basis, but as required by the customs, the goods exported are valued on the FOB basis, whereas goods imported are on the CIF basis. Therefore, for the purpose of the BOP statistics, the international transport and insurance premiums are taken out from the value of imported goods and included in the trade in services; and third, the data on net export of goods in merchanting which are not included in the customs statistics are supplemented. 2. Services: includes manufacturing services on physical inputs owned by others, maintenance and repair services n.i.e, transport, travel, construction, insurance and pension services, financial services, charges for the use of intellectual property, telecommunications, computer and information services, other business services, personal, cultural and recreational services, and government goods and services n.i.e. The credit side records services supplied, while the debit side records services received. 2.1 Manufacturing services on physical owned by others: processor only provides processing, assembly, packaging and other services and charges service fee from the owner, while the ownership of the goods is not transferred between the owner and the processor. The credit side records the manufacturing services supplied by the Chinese residents on physical inputs owned by non-residents, and vice versa for debit side. 2.2 Maintenance and repair services: refer to the maintenance and repair services supplied by residents to non-residents or vice versa on goods and equipment (such as vessel, aircraft, and other transportation facility) owned by the receiving party. The credit side records the maintenance and repair services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.3 Transport: refers to the process of transporting people and goods from one place to another, and the relevant supporting and auxiliary services, as well as postal and delivery services. The credit side records the international transport, postal and delivery services supplied by residents to non-residents, and vice versa for debit side. 2.4 Travel: refers to goods consumed and services purchased by travelers in various economies as non-residents. The credit side records the goods and services provided by the Chinese residents to non-residents who have stayed in China for less than one year, as well as non-residents studying abroad and seeking medical treatment for indefinite period of stay. The debit side records the goods and services purchased by the Chinese residents when traveling, studying or seeking medical services abroad from non-residents. 2.5 Construction services: refer to the establishment, renovation, maintenance or expansion of fixed assets in the form of buildings, land improvement, roads, bridges and dams and other engineering buildings of engineering nature, relevant installation, assembly, painting, pipeline construction, demolition and project management,as well as site preparation, measurement and blasting and other special services. The credit side records the construction services provided by the Chinese residents outside the economic territory. The debit side records the construction services received by the Chinese residents in the Chinese economic territory from non-residents. 2.6 Insurance and pension services: refers to various insurance services and commission to agents related with insurance transaction. The credit side records the life insurance and annuity, non-lifeinsurance, reinsurance, standardized guarantee services and relevant supporting services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.7 Financial services: refer to financial intermediation and supporting services, excluding those covered by insurance and pension services. The credit side records the financial intermediation and supporting services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.8 Charges for the use of intellectual property: refer to licensed use of intangible, non-productive/non-financial assets and exclusive rights between residents and non-residents and the licensed use of existing original works or prototypes. The credit side records the intellectual property-related services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.9 Telecommunications, computer and information services: refer tocommunications services between residents and non-residents and transactions of services related to computer data and news, excluding commercial services delivered via telephone, computer and Internet. The credit side records the telecommunications, computer and information services supplied by residents to non-residents, and vice versa for debit side. 2.10 Other business services: refer to other types of services between residents and non-residents, including research and development services, professional and management consulting services, technical and trade-related services. The credit side records the other business services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.11 Personal, cultural and recreational services: refer to transactions of personal, cultural and recreational services between residents and non-residents, including audiovisual and related services (films, radio, television programs and music recordings) and other personal, cultural and recreational services (health, education, etc.). The credit side records the related services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.12 Government goods and services n.i.e: refer to various goods and services provided and purchased by governments and international organizations not included in other categories of goods and services. The credit side records the goods and services not included elsewhere and supplied by the Chinese residents to non-residents, and vice versa for debit side. 2024-08-30/en/2024/0830/2228.html
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As shown in the statistics of the State Administration of Foreign Exchange (SAFE), in July 2024, the amount of foreign exchange settlement and sales by banks was RMB 1316.9 billion and RMB 1705.7 billion, respectively. During January to July 2024, the accumulative amount of foreign exchange settlement and sales by banks was RMB 8874.0 billion and RMB 10071.2 billion, respectively. In the US dollar terms, in July 2024, the amount of foreign exchange settlement and sales by banks was USD 184.7 billion and USD 239.2 billion, respectively. During January to July 2024, the accumulative amount of foreign exchange settlement and sales by banks was USD 1248.3 billion and USD 1416.5 billion, respectively. In July 2024, the amount of cross-border receipts and payments by non-banking sectors was RMB 4436.3 billion and RMB 4535.2 billion, respectively. During January to July 2024, the accumulative amount of cross-border receipts and payments by non-banking sectors was RMB 28656.3 billion and RMB 29173.2 billion, respectively. In the US dollar terms, in July 2024, the amount of cross-border receipts and payments by non-banking sectors was USD 622.1 billion and USD 635.9 billion, respectively. During January to July 2024, the accumulative amount of cross-border receipts and payments by non-banking sectors was USD 4030.8 billion and USD 4103.6 billion, respectively. As cross-border capital flows improved in July, the supporting role of major inflow channels such as trade in goods was further strengthened, with cross-border receipts by non-banking sectors increasing by 9% month-on-month and payments increasing by 7%, and the balance of payments deficit narrowing by 41% from the previous month. In particular, the continued rapid growth of China’s foreign trade has led to a 48% increase month-on-month in net cross-border capital inflows under trade in goods, the highest level in the same period in history. Foreign investors increased their holdings of domestic bonds by a net of USD 20 billion, an increase of 1.4 times over the previous period, indicating that foreign investors are still highly motivated to allocate RMB assets. Going forward, as the internal and external environments improve, favorable factors for the smooth operation of China’s cross-border capital flows will further increase. Domestically, the Third Plenary Session of the 20th CPC Central Committee has made systematic arrangements to further deepen comprehensive reforms and promote Chinese-style modernization, which has effectively boosted market confidence, and the upturn of the domestic economy will be consolidated and strengthened. We’ll see continued deepening of reformand opening-up in the field of foreign exchange administration, and a more resilient foreign exchange market. Externally, international trade is expected to return to growth, with the World Trade Organization projecting that global trade in goods will increase by approximately 2.6% in 2024 from a decline of 1.2% in 2023. In the meantime, expectations are building for the Federal Reserve to cut interest rates, and major non-US currencies have stabilized and rebounded recently. There is hope for a progressive improvement in the global foreign exchange market. 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 that foreign exchange holders sell foreign exchange to banks, and foreign exchange sales means that banks sell 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 a bank and its 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. 2024-08-15/en/2024/0815/2225.html
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As shown in the statistics of the State Administration of Foreign Exchange (SAFE), in August 2024, the amount of foreign exchange settlement and sales by banks was RMB 1357.0 billion and RMB 1365.7 billion, respectively. During January to August 2024, the accumulative amount of foreign exchange settlement and sales by banks was RMB 10231.1 billion and RMB 11436.9 billion, respectively. In the US dollar terms, in August 2024, the amount of foreign exchange settlement and sales by banks was USD 190.2 billion and USD 191.4 billion, respectively. During January to August 2024, the accumulative amount of foreign exchange settlement and sales by banks was USD 1438.5 billion and USD 1608.0 billion, respectively. In August 2024, the amount of cross-border receipts and payments by non-banking sectors was RMB 4265.9 billion and RMB 4156.4 billion, respectively. During January to August 2024, the accumulative amount of cross-border receipts and payments by non-banking sectors was RMB 32922.2 billion and RMB 33329.7 billion, respectively. In the US dollar terms, in August 2024, the amount of cross-border receipts and payments by non-banking sectors was USD 598.0 billion and USD 582.6 billion, respectively. During January to August 2024, the accumulative amount of cross-border receipts and payments by non-banking sectors was USD 4628.8 billion and USD 4686.2 billion, respectively. 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 that foreign exchange holders sell foreign exchange to banks, and foreign exchange sales means that banks sell 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 a bank and its 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. 2024-09-18/en/2024/0918/2231.html
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The State Administration of Foreign Exchange (SAFE) has recently released data on foreign exchange settlement and sales by banks as well as cross-border receipts and payments by non-banking sectors for January 2024. The SAFE Deputy Administrator and Press Spokesperson Wang Chunying answered media questions regarding the topic. Q: Could you brief us on China’s foreign exchange receipts and payments for January 2024? A: China’s foreign exchange market had a stable start, with cross-border capital flows generally remaining balanced. In January, the foreign-related receipts and payments by non-banking sectors, including enterprises and individuals, posted a surplus of USD 5.5 billion. Market expectations remained relatively stable with rational and orderly foreign exchange trading. In terms of foreign-related receipts, the trade in goods witnessed a 7% month-on-month increase and a 10% year-on-year increase, underscoring its importance in stabilizing cross-border capital flows. The net increase in foreign holdings of China’s domestic bonds amounted to USD 27 billion, while the scale of net capital inflows remained at historically high levels. Looking ahead, China’s foreign exchange market is well-positioned, with its established foundation and favorable conditions able to sustain smooth operations. First, the consolidation and strengthening of China’s economic recovery will continue, solidifying the fundamental support for the foreign exchange market. Second, China’s Balance of Payments (BOP) remains stable, and the internal resilience of the foreign exchange market has been enhanced, which is beneficial for addressing external shocks. Third, as major developed economies gradually adjust their monetary policies and international financial market conditions marginally improve, the associated spillover effects are expected to be alleviated. 2024-02-23/en/2024/0223/2224.html
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According to the statistics of the State Administration of Foreign Exchange (SAFE), the Chinese foreign exchange market (excluding foreign currency pairs, the same below) recorded total transactions of RMB 27.97 trillion (equivalent to USD 3.92 trillion) in July 2024. In terms of markets, the transactions volume of client market was RMB 3.68 trillion (equivalent to USD 0.52 trillion), and the transactions volume of interbank market was RMB 24.29 trillion (equivalent to USD 3.41 trillion). In terms of products, the cumulative transactions volume of the spot market was RMB 9.35 trillion (equivalent to USD 1.31 trillion), and that of the derivatives market was RMB 18.62 trillion (equivalent to USD 2.61 trillion). From January to July 2024, a total of RMB 163.40 trillion (equivalent to USD 22.98 trillion) was traded in the Chinese foreign exchange market. 2024-08-23/en/2024/0823/2227.html
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According to the statistics by the State Administration of Foreign Exchange (SAFE), by the end of July 2024, China's foreign exchange reserves totaled USD 3.2564 trillion, up by USD 34.0 billion or 1.06% from June 2024. In July 2024, the US dollar index fell, while global financial asset prices generally rose, influenced by factors such as macroeconomic data, monetary policies and expectations in major economies. China's foreign exchange reserves increased this month due to the combined effects of currency translation and changes in asset prices. China achieved a stable performance while securing progress in its economic development with continued momentum for economic recovery, which is conducive to the sustained basic stability of the scale of foreign exchange reserves. 2024-08-07/en/2024/0807/2230.html