-
2026年5月18日，中国人民银行副行长、国家外汇管理局局长朱鹤新会见来访的友邦保险集团主席杜嘉祺爵士（Sir Mark Tucker）。双方就国际经济金融形势、中国经济发展机遇、外汇政策支持保险业高质量发展等议题进行了交流。国家外汇管理局副局长李红燕陪同会见。 2026-05-19/henan/2026/0519/2151.html
-
2026年5月25日，中国人民银行副行长、国家外汇管理局局长朱鹤新会见来访的法国央行行长德加洛。双方就国际经济金融形势、深化中法金融领域合作等议题进行了交流。国家外汇管理局副局长李斌陪同会见。 2026-05-26/henan/2026/0526/2153.html
-
日前，国家外汇管理局公布2025年末我国对外证券投资资产分国家/地区及分居民持有者部门数据。统计显示，2025年末，我国对外证券投资资产（不含储备资产）19875亿美元。其中，股权类投资12628亿美元，债券类投资7247亿美元。资产分布在前五位的国家/地区是中国香港、美国、开曼群岛、英属维尔京群岛和英国，投资金额分别为9789亿美元、3640亿美元、1451亿美元、652亿美元和485亿美元。2025年末，我国持有对外证券资产的部门主要是非银行金融机构、银行和非金融部门，投资金额分别为11087亿美元、5667亿美元和3121亿美元，占我国对外证券投资总额的56%、29%和16%。（完） 2026-06-05/jilin/2026/0605/2904.html
-
The 2026 National Foreign Exchange Administration Work Conference was convened in Beijing from January 5 to 6, 2026. The conference thoroughly studied and implemented the spirit of the Fourth Plenary Session of the 20th CPC Central Committee and the Central Economic Work Conference. It also reviewed the foreign exchange administration work in the year 2025, analyzed the current financial and foreign exchange situation,researched and made arrangements for the key tasks in 2026. Zhu Hexin, Secretary of the CPC Leadership Group of the State Administration of Foreign Exchange (the SAFE) and Administrator of the SAFE,delivered a work report. Members of the CPC SAFE Leadership Group and the Deputy Administrators attended the conference. The conference pointed out that in 2025, the SAFE earnestly implemented the decisions and arrangements of the CPC Central Committee and the State Council, considered both domestic and international imperatives, balanced development and security,strengthened the systematic integration of foreign exchange policies, enhanced the development and regulation of the foreign exchange market, and new achievements have been realized across the board. Firstly, the SAFE promoted the high-quality development of foreign exchange administration work through high-quality Party building. The SAFE thoroughly studied and implemented the spirit of General Secretary Xi Jinping's important speeches and important instructions, solidly carried out educational activities to thoroughly implement the central Party leadership's eight-point decision on conduct, further advanced full and strict governance over the Party, rigorously and solidly implemented the Central inspection rectification,and resolutely achieved the "Two Upholds". Secondly, the SAFE vigorously improved the quality and efficiency of foreign exchange services in supporting the real economy. The SAFE implemented a package of policies to support the stable development of foreign trade and deepen cross-border investment and financing reform. It also provided support for new trade format such as cross-border e-commerce, which handled over one billion online foreign exchange transactions,thereby contributing to the stability in foreign trade and foreign investment.Foreign exchange market development was deepened, effectively meeting foreign exchange needs, with market trading volume and hedging ratios among enterprises hitting historical highs. The SAFE effectively fulfilled the five major financial tasks by focusing on supporting sci-tech enterprises. Meanwhile, foreign exchange services for foreigners coming to China witnessed continuous optimization. The foreign exchange policy and foreign exchange ecosystem assessment mechanism was improved. Thirdly, the SAFE deepened and expanded reform and opening-up in the foreign exchange field. The SAFE improved the quality and promoted expansion of reform of the banks' foreign exchange operations,with relevant banks handling foreign exchange transactions totaling USD 440 billion based on customer instructions throughout the year.The SAFE advanced the opening of capital account, by rolling out the policy for the integrated capital pool for multinational companies’ domestic and foreign currencies nationwide,unifying the domestic and foreign currency fund management policies for overseas-listed domestic enterprises, and orderly issuing quotas for Qualified Domestic Institutional Investors (QDII). The SAFE actively supported the development of key regions,implemented a package of foreign exchange facilitation policies to bolster pilot free trade zones construction, jointly issued an action plan to further improve the facilitation of cross-border financial services in the Shanghai International Financial Center, and supported the special customs operations of the Hainan Free Trade Port. Fourthly, the SAFE strengthened full-coverage supervision of the foreign exchange field. Macro-prudential management and expectation guidance for cross-border capital flows were enhanced. The foreign exchange market withstood pressures and operated smoothly,demonstrating strong resilience and vitality. The SAFE also improved the in-process and ex-post supervision mechanism,and severely cracked down on illegal and irregular activities in the foreign exchange field,such as underground banks,handling more than 1,100 illegal and irregular cases in total. Fifthly, the SAFE continuously improve the management of foreign exchange reserves with Chinese characteristics,the reserves scale remained basically stable. The conference emphasized that in 2026, the foreign exchange administration work should be guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, fully implement the spirit of the 20th CPC National Congress and the plenary sessions of the 20th CPC Central Committee, earnestly implement the decisions and arrangements of the Central Economic Work Conference and the Central Financial Work Conference. In accordance with the requirements of the National Financial System Work Conference, the SAFE will persist in seeking progress while maintaining stability, upgrading quality while boosting efficiency, better coordinate development and security,commit to establishing a "more convenient, more open, more secure and more intelligent" foreign exchange administration system and mechanism.The SAFE will promote in-depth reform and high-level opening-up in the foreign exchange field,effectively meet the foreign exchange needs for all types of entities, prevent and resolve external shock risks, and further strengthen in-process and ex-post supervision,strive to create a foreign exchange policy environment that is both flexible yet well-regulated, contribute foreign exchange strength to the successful launch and good start of the 15th Five-Year Plan. The conference outlined key tasks for foreign exchange administration in 2026. Firstly, the SAFE will strengthen Party's overall leadership on financial work and persistently promote full and strict governance over the Party. The SAFE will conscientiously implement the "First Agenda" system,consolidate and deepen the effectiveness of inspection and rectification,enhance the quality and efficiency of Party building across the system,build a strong contingent of cadres and talents, and further improve conduct, enforce discipline,and combat corruption with sustained efforts. Secondly, the SAFE will promote foreign exchange facilitation reforms,and strive to enhance vitality and impetus for high-quality development. Key measures include optimizing management of trade foreign exchange business, orderly expanding pilot programs for high-level opening-up of cross-border trade,increasing support for the development of new trade formats such as cross-border e-commerce, and improving management of corporate trade credit reporting. The SAFE will build an open, diversified, fully functional and competitively ordered foreign exchange market, support financial institutions in developing simple and user-friendly exchange rate hedging products, reduce the cost of exchange rate risk management for micro, small and medium-sized enterprises, and enhance the service capacity of foreign exchange market infrastructure. The SAFE will continue to effectively deliver on the five major financial tasks, expand the application scenarios of the cross-border financial services platforms, strengthen the transmission and evaluation of foreign exchange policies to improve the effectiveness of policy implementation. Thirdly, the SAFE will steadily advance high-level institutional opening-up in the foreign exchange field to facilitate multi-field cooperation for mutual benefit. The SAFE will steadily and orderly advance the reform of banks’ foreign exchange operations, guide already reformed banks to extend their practices to branches nationwide, steadily encourage more banks to launch reforms,and strengthen the integration of business reform with facilitation policies. The SAFE will introduce management policies for overseas lending and domestic foreign exchange loan funds, and implement the integrated cross-border capital pool management policy for multinational corporations’ domestic and foreign currencies nationwide. The SAFE will also strengthen integrated reform and innovation of foreign exchange policies in pilot free trade zones, support the construction of international financial centers in Shanghai and Hong Kong, as well as the development of the Hainan Free Trade Port and the Guangdong-Hong Kong-Macao Greater Bay Area. Fourthly, the SAFE will uphold bottom-line thinking, and reinforce the "breakwater and wavebarrier" for the foreign exchange market. The SAFE will intensify analysis and assessment of the foreign exchange situation, enhance macro-prudential management and expectations guidance in light of changing conditions, so as to maintain the stable and sound operation of the foreign exchange market. Fifthly, the SAFE will further consolidate and strengthen foreign exchange supervision,elevate the capacity and level of supervision under open conditions. The SAFE will enforce laws in a strict,standardized,impartial and civilized manner, deepen off-site supervisory capacity building, enhance analysis of abnormal channels and clues, strengthen supervision of trading behaviors in the foreign exchange market, and continue to crack down on illegal cross-border financial activities. Sixthly, the SAFE will ensure the safety, liquidity, and value preservation and appreciation of China's foreign exchange reserves assets. Seventhly, the SAFE will promote the amendment of the Regulations of the People's Republic of China on Foreign Exchange Administration, build a higher-standard international balance of payments statistics system,steadily explore the development of "Intelligent Foreign Exchange Administration", and enhance digitalization and intelligentization of foreign exchange administration. The responsible comrades of all departments, provincial branches,and subordinate units of the SAFE, as well as the responsible comrades of the discipline inspection and supervision team stationed in the SAFE, attended the conference. The relevant comrades from the Organization Department of the CPC Central Committee, the Office of the Central Financial and Economic Affairs Commission, the Office of the Central Financial Commission, the General Office of the State Council, and the Ministry of Finance were also present at the conference upon invitation. 2026-01-06/en/2026/0106/2387.html
-
The 2026 National Foreign Exchange Administration Work Conference was convened in Beijing from January 5 to 6, 2026. The conference thoroughly studied and implemented the spirit of the Fourth Plenary Session of the 20th CPC Central Committee and the Central Economic Work Conference. It also reviewed the foreign exchange administration work in the year 2025, analyzed the current financial and foreign exchange situation,researched and made arrangements for the key tasks in 2026. Zhu Hexin, Secretary of the CPC Leadership Group of the State Administration of Foreign Exchange (the SAFE) and Administrator of the SAFE,delivered a work report. Members of the CPC SAFE Leadership Group and the Deputy Administrators attended the conference. The conference pointed out that in 2025, the SAFE earnestly implemented the decisions and arrangements of the CPC Central Committee and the State Council, considered both domestic and international imperatives, balanced development and security,strengthened the systematic integration of foreign exchange policies, enhanced the development and regulation of the foreign exchange market, and new achievements have been realized across the board. Firstly, the SAFE promoted the high-quality development of foreign exchange administration work through high-quality Party building. The SAFE thoroughly studied and implemented the spirit of General Secretary Xi Jinping's important speeches and important instructions, solidly carried out educational activities to thoroughly implement the central Party leadership's eight-point decision on conduct, further advanced full and strict governance over the Party, rigorously and solidly implemented the Central inspection rectification,and resolutely achieved the "Two Upholds". Secondly, the SAFE vigorously improved the quality and efficiency of foreign exchange services in supporting the real economy. The SAFE implemented a package of policies to support the stable development of foreign trade and deepen cross-border investment and financing reform. It also provided support for new trade format such as cross-border e-commerce, which handled over one billion online foreign exchange transactions,thereby contributing to the stability in foreign trade and foreign investment.Foreign exchange market development was deepened, effectively meeting foreign exchange needs, with market trading volume and hedging ratios among enterprises hitting historical highs. The SAFE effectively fulfilled the five major financial tasks by focusing on supporting sci-tech enterprises. Meanwhile, foreign exchange services for foreigners coming to China witnessed continuous optimization. The foreign exchange policy and foreign exchange ecosystem assessment mechanism was improved. Thirdly, the SAFE deepened and expanded reform and opening-up in the foreign exchange field. The SAFE improved the quality and promoted expansion of reform of the banks' foreign exchange operations,with relevant banks handling foreign exchange transactions totaling USD 440 billion based on customer instructions throughout the year.The SAFE advanced the opening of capital account, by rolling out the policy for the integrated capital pool for multinational companies’ domestic and foreign currencies nationwide,unifying the domestic and foreign currency fund management policies for overseas-listed domestic enterprises, and orderly issuing quotas for Qualified Domestic Institutional Investors (QDII). The SAFE actively supported the development of key regions,implemented a package of foreign exchange facilitation policies to bolster pilot free trade zones construction, jointly issued an action plan to further improve the facilitation of cross-border financial services in the Shanghai International Financial Center, and supported the special customs operations of the Hainan Free Trade Port. Fourthly, the SAFE strengthened full-coverage supervision of the foreign exchange field. Macro-prudential management and expectation guidance for cross-border capital flows were enhanced. The foreign exchange market withstood pressures and operated smoothly,demonstrating strong resilience and vitality. The SAFE also improved the in-process and ex-post supervision mechanism,and severely cracked down on illegal and irregular activities in the foreign exchange field,such as underground banks,handling more than 1,100 illegal and irregular cases in total. Fifthly, the SAFE continuously improve the management of foreign exchange reserves with Chinese characteristics,the reserves scale remained basically stable. The conference emphasized that in 2026, the foreign exchange administration work should be guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, fully implement the spirit of the 20th CPC National Congress and the plenary sessions of the 20th CPC Central Committee, earnestly implement the decisions and arrangements of the Central Economic Work Conference and the Central Financial Work Conference. In accordance with the requirements of the National Financial System Work Conference, the SAFE will persist in seeking progress while maintaining stability, upgrading quality while boosting efficiency, better coordinate development and security,commit to establishing a "more convenient, more open, more secure and more intelligent" foreign exchange administration system and mechanism.The SAFE will promote in-depth reform and high-level opening-up in the foreign exchange field,effectively meet the foreign exchange needs for all types of entities, prevent and resolve external shock risks, and further strengthen in-process and ex-post supervision,strive to create a foreign exchange policy environment that is both flexible yet well-regulated, contribute foreign exchange strength to the successful launch and good start of the 15th Five-Year Plan. The conference outlined key tasks for foreign exchange administration in 2026. Firstly, the SAFE will strengthen Party's overall leadership on financial work and persistently promote full and strict governance over the Party. The SAFE will conscientiously implement the "First Agenda" system,consolidate and deepen the effectiveness of inspection and rectification,enhance the quality and efficiency of Party building across the system,build a strong contingent of cadres and talents, and further improve conduct, enforce discipline,and combat corruption with sustained efforts. Secondly, the SAFE will promote foreign exchange facilitation reforms,and strive to enhance vitality and impetus for high-quality development. Key measures include optimizing management of trade foreign exchange business, orderly expanding pilot programs for high-level opening-up of cross-border trade,increasing support for the development of new trade formats such as cross-border e-commerce, and improving management of corporate trade credit reporting. The SAFE will build an open, diversified, fully functional and competitively ordered foreign exchange market, support financial institutions in developing simple and user-friendly exchange rate hedging products, reduce the cost of exchange rate risk management for micro, small and medium-sized enterprises, and enhance the service capacity of foreign exchange market infrastructure. The SAFE will continue to effectively deliver on the five major financial tasks, expand the application scenarios of the cross-border financial services platforms, strengthen the transmission and evaluation of foreign exchange policies to improve the effectiveness of policy implementation. Thirdly, the SAFE will steadily advance high-level institutional opening-up in the foreign exchange field to facilitate multi-field cooperation for mutual benefit. The SAFE will steadily and orderly advance the reform of banks’ foreign exchange operations, guide already reformed banks to extend their practices to branches nationwide, steadily encourage more banks to launch reforms,and strengthen the integration of business reform with facilitation policies. The SAFE will introduce management policies for overseas lending and domestic foreign exchange loan funds, and implement the integrated cross-border capital pool management policy for multinational corporations’ domestic and foreign currencies nationwide. The SAFE will also strengthen integrated reform and innovation of foreign exchange policies in pilot free trade zones, support the construction of international financial centers in Shanghai and Hong Kong, as well as the development of the Hainan Free Trade Port and the Guangdong-Hong Kong-Macao Greater Bay Area. Fourthly, the SAFE will uphold bottom-line thinking, and reinforce the "breakwater and wavebarrier" for the foreign exchange market. The SAFE will intensify analysis and assessment of the foreign exchange situation, enhance macro-prudential management and expectations guidance in light of changing conditions, so as to maintain the stable and sound operation of the foreign exchange market. Fifthly, the SAFE will further consolidate and strengthen foreign exchange supervision,elevate the capacity and level of supervision under open conditions. The SAFE will enforce laws in a strict,standardized,impartial and civilized manner, deepen off-site supervisory capacity building, enhance analysis of abnormal channels and clues, strengthen supervision of trading behaviors in the foreign exchange market, and continue to crack down on illegal cross-border financial activities. Sixthly, the SAFE will ensure the safety, liquidity, and value preservation and appreciation of China's foreign exchange reserves assets. Seventhly, the SAFE will promote the amendment of the Regulations of the People's Republic of China on Foreign Exchange Administration, build a higher-standard international balance of payments statistics system,steadily explore the development of "Intelligent Foreign Exchange Administration", and enhance digitalization and intelligentization of foreign exchange administration. The responsible comrades of all departments, provincial branches,and subordinate units of the SAFE, as well as the responsible comrades of the discipline inspection and supervision team stationed in the SAFE, attended the conference. The relevant comrades from the Organization Department of the CPC Central Committee, the Office of the Central Financial and Economic Affairs Commission, the Office of the Central Financial Commission, the General Office of the State Council, and the Ministry of Finance were also present at the conference upon invitation. 2026-01-06/en/2026/0106/2388.html
-
In the third quarter of 2025, China's current account registered a surplus of RMB 1394.8 billion, including a surplus of RMB 1921.3 billion under trade in goods, a deficit of RMB 352.0 billion under trade in services, a deficit of RMB 232.4 billion under primary income and a surplus of RMB 57.9 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of RMB 1394.8 billion. Inward foreign direct investments (FDI) continued the net inflow. In the first three quarters of 2025, China's current account registered a surplus of RMB 3507.4 billion, including a surplus of RMB 5201.5 billion under trade in goods, a deficit of RMB 1116.6 billion under trade in services, a deficit of RMB 684.4 billion under primary income, and a surplus of RMB 106.9 billion under secondary income. The capital and financial accounts (including net errors and omissions for the third quarter) recorded a deficit of RMB 3388.5 billion. In the US dollar terms, in the third quarter of 2025, China's current account registered a surplus of USD 195.6 billion, including a surplus of USD 269.5 billion under trade in goods, a deficit of USD 49.4 billion under trade in services, a deficit of USD 32.6 billion under primary income and a surplus of USD 8.1 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of USD 195.6 billion. In the US dollar terms, in the first three quarters of 2025, China's current account recorded a surplus of USD 489.8 billion, including a surplus of USD 726.2 billion under trade in goods, a deficit of USD 155.8 billion under trade in services, a deficit of USD 95.5 billion under primary income, and a surplus of USD 14.9 billion under secondary income. The capital and financial accounts (including net errors and omissions for the third quarter) recorded a deficit of USD 473.3 billion. In SDR terms, in the third quarter of 2025, China's current account registered a surplus of SDR 142.9 billion, including a surplus of SDR 196.9 billion under trade in goods, a deficit of SDR 36.1 billion under trade in services, a deficit of SDR 23.8 billion under primary income and a surplus of SDR 5.9 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of SDR 142.9 billion. In SDR terms, in the first three quarters of 2025, China posted a surplus of SDR 363.9 billion under the current account, including a surplus of SDR 539.4 billion under trade in goods, a deficit of SDR 116.1 billion under trade in services, a deficit of SDR 70.5 billion under primary income and a surplus of SDR 11.0 billion under secondary income. The capital and financial accounts (including net errors and omissions for the third quarter) recorded a deficit of SDR 350.6 billion.(End) China's Balance of Payments, Q3 2025 (Preliminary Data) Item Line No. RMB 100 million USD 100 million SDR 100 million 1. Current account 1 13948 1956 1429 Credit 2 82444 11565 8449 Debit 3 -68496 -9609 -7020 1. A Goods and Services 4 15693 2201 1608 Credit 5 74819 10496 7668 Debit 6 -59126 -8295 -6060 1.A.a Goods 7 19213 2695 1969 Credit 8 66934 9390 6860 Debit 9 -47721 -6695 -4891 1.A.b Services 10 -3520 -494 -361 Credit 11 7885 1106 808 Debit 12 -11405 -1600 -1169 1.A.b.1 Processing services 13 200 28 20 Credit 14 254 36 26 Debit 15 -55 -8 -6 1.A.b.2 Maintenance and Repair Services 16 124 17 13 Credit 17 277 39 28 Debit 18 -153 -21 -16 1.A.b.3 Transport 19 -930 -131 -95 Credit 20 2259 317 231 Debit 21 -3189 -447 -327 1.A.b.4 Travel 22 -3589 -503 -368 Credit 23 989 139 101 Debit 24 -4578 -642 -469 1.A.b.5 Construction 25 156 22 16 Credit 26 343 48 35 Debit 27 -187 -26 -19 1.A.b.6 Insurance and Pension Services 28 -206 -29 -21 Credit 29 43 6 4 Debit 30 -249 -35 -26 1.A.b.7 Financial Services 31 -4 -1 0 Credit 32 61 9 6 Debit 33 -65 -9 -7 1.A.b.8 Charges for the Use of Intellectual Property 34 -558 -78 -57 Credit 35 328 46 34 Debit 36 -886 -124 -91 1.A.b.9 Telecommunications, Computer, and Information Services 37 542 76 56 Credit 38 1265 177 130 Debit 39 -723 -101 -74 1.A.b.10 Other Business Services 40 855 120 88 Credit 41 2008 282 206 Debit 42 -1154 -162 -118 1.A.b.11 Personal, Cultural, and Recreational Services 43 -65 -9 -7 Credit 44 32 4 3 Debit 45 -97 -14 -10 1.A.b.12 Government Goods and Services n.i.e 46 -43 -6 -4 Credit 47 26 4 3 Debit 48 -69 -10 -7 1.B Primary Income 49 -2324 -326 -238 Credit 50 6625 929 679 Debit 51 -8949 -1256 -917 1.C Secondary Income 52 579 81 59 Credit 53 1000 140 103 Debit 54 -421 -59 -43 2. Capital and Financial Accounts (Including Net Errors and Omissions for the Quarter) 55 -13948 -1956 -1429 2.1 Capital Account 56 7 1 1 Credit 57 9 1 1 Debit 58 -2 0 0 2.2. Financial Account (Including Net Errors and Omissions for the Quarter) 59 -13955 -1957 -1430 2.2.1 Financial Account (Excluding Reserve Assets, But Including Net Errors and Omissions for the Quarter) 60 -14795 -2075 -1516 Including: 2.2.1.1 Direct Investment 61 -2242 -314 -230 2.2.1.1.1 Assets 62 -2842 -399 -291 2.2.1.1.1.1 Equity and investment fund shares 63 -2867 -402 -294 2.2.1.1.1.2 Debt instruments 64 25 3 2 2.2.1.1.2 Liabilities 65 600 85 62 2.2.1.1.2.1 Equity and investment fund shares 66 991 140 102 2.2.1.1.2.2 Debt instruments 67 -390 -55 -40 2.2.2 Reserve Assets 68 839 118 86 2.2.2.1 Monetary gold 69 0 0 0 2.2.2.2 Special drawing rights 70 -13 -2 -1 2.2.2.3 Reserve position in the IMF 71 4 1 0 2.2.2.4 Foreign exchange reserves 72 848 119 87 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 third quarter of 2025, the equity other than reinvestment of earnings under direct investment liabilities (credit) was USD 20.9 billion (RMB 149.0 billion). 6.This table employs rounded-off numbers. China's Balance of Payments, First Three Quarters of 2025 (Preliminary Data) Item Line No. RMB 100 million USD 100 million SDR 100 million 1. Current account 1 35074 4898 3639 Credit 2 231370 32296 23983 Debit 3 -196296 -27399 -20345 1. A Goods and Services 4 40849 5704 4234 Credit 5 211241 29486 21900 Debit 6 -170391 -23782 -17666 1.A.a Goods 7 52015 7262 5394 Credit 8 188893 26366 19582 Debit 9 -136878 -19105 -14188 1.A.b Services 10 -11166 -1558 -1161 Credit 11 22347 3119 2318 Debit 12 -33513 -4677 -3478 1.A.b.1 Processing services 13 561 78 58 Credit 14 689 96 71 Debit 15 -128 -18 -13 1.A.b.2 Maintenance and Repair Services 16 315 44 33 Credit 17 738 103 76 Debit 18 -422 -59 -44 1.A.b.3 Transport 19 -2641 -369 -274 Credit 20 6443 899 668 Debit 21 -9085 -1268 -942 1.A.b.4 Travel 22 -10908 -1522 -1135 Credit 23 2738 382 284 Debit 24 -13646 -1905 -1418 1.A.b.5 Construction 25 370 52 38 Credit 26 882 123 91 Debit 27 -512 -71 -53 1.A.b.6 Insurance and Pension Services 28 -756 -106 -78 Credit 29 155 22 16 Debit 30 -911 -127 -95 1.A.b.7 Financial Services 31 11 2 1 Credit 32 222 31 23 Debit 33 -211 -29 -22 1.A.b.8 Charges for the Use of Intellectual Property 34 -1872 -261 -194 Credit 35 673 94 70 Debit 36 -2545 -355 -264 1.A.b.9 Telecommunications, Computer, and Information Services 37 1452 203 150 Credit 38 3700 516 384 Debit 39 -2247 -314 -233 1.A.b.10 Other Business Services 40 2537 354 264 Credit 41 5916 826 614 Debit 42 -3378 -472 -350 1.A.b.11 Personal, Cultural, and Recreational Services 43 -151 -21 -16 Credit 44 113 16 12 Debit 45 -264 -37 -27 1.A.b.12 Government Goods and Services n.i.e 46 -83 -12 -9 Credit 47 79 11 8 Debit 48 -162 -23 -17 1.B Primary Income 49 -6844 -955 -705 Credit 50 17794 2484 1842 Debit 51 -24639 -3440 -2547 1.C Secondary Income 52 1069 149 110 Credit 53 2335 326 242 Debit 54 -1266 -177 -131 2. Capital and Financial Accounts (Including Net Errors and Omissions for the Third Quarter) 55 -33885 -4733 -3506 2.1 Capital Account 56 -3 0 0 Credit 57 12 2 1 Debit 58 -15 -2 -2 2.2. Financial Account (Including Net Errors and Omissions for the Third Quarter) 59 -33881 -4732 -3505 2.2.1 Financial Account (Excluding Reserve Assets, But Including Net Errors and Omissions for the Third Quarter) 60 -37642 -5257 -3900 Including: 2.2.1.1 Direct Investment 61 -5589 -780 -583 2.2.1.1.1 Assets 62 -8479 -1184 -882 2.2.1.1.1.1 Equity and investment fund shares 63 -7192 -1004 -746 2.2.1.1.1.2 Debt instruments 64 -1287 -179 -137 2.2.1.1.2 Liabilities 65 2889 404 299 2.2.1.1.2.1 Equity and investment fund shares 66 3812 532 396 2.2.1.1.2.2 Debt instruments 67 -922 -129 -97 2.2.2 Reserve Assets 68 3761 524 395 2.2.2.1 Monetary gold 69 0 0 0 2.2.2.2 Special drawing rights 70 -246 -34 -26 2.2.2.3 Reserve position in the IMF 71 -106 -15 -11 2.2.2.4 Foreign exchange reserves 72 4113 573 431 2.2.2.5 Other reserves 73 0 0 0 3. Net Errors and Omissions 74 -1189 -165 -133 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 three quarters of 2025 is the sum of the official amounts of the BOP for 2025Q1, 2025Q2 and the preliminary amount for 2025Q3. 5.According to preliminary statistics, in the first three quarters of 2025, the equity other than reinvestment of earnings under direct investment liabilities (credit) was USD 60.1 billion (RMB 430.4 billion). 6.This table employs rounded-off numbers. 2025-11-07/en/2025/1107/2358.html
-
In the fourth quarter of 2025, China's current account registered a surplus of RMB 1713.7 billion, including a surplus of RMB 2104.3 billion under trade in goods, a deficit of RMB 284.5 billion under trade in services, a deficit of RMB 155.2 billion under primary income and a surplus of RMB 49.1 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of RMB 1713.7 billion. Inward foreign direct investments (FDI) continued the net inflow. In 2025, China's current account registered a surplus of RMB 5242.7 billion, the capital and financial accounts (including net errors and omissions for the fourth quarter) recorded a deficit of RMB 5421.7 billion. In the US dollar terms, in the fourth quarter of 2025, China's current account registered a surplus of USD 242.1 billion, including a surplus of USD 297.3 billion under trade in goods, a deficit of USD 40.2 billion under trade in services, a deficit of USD 22.0 billion under primary income and a surplus of USD 6.9 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of USD 242.1 billion. In 2025, China's current account recorded a surplus of USD 734.9 billion, the capital and financial accounts (including net errors and omissions for the fourth quarter) recorded a deficit of USD 760.2 billion. In SDR terms, in the fourth quarter of 2025, China's current account registered a surplus of SDR 177.6 billion, including a surplus of SDR 218.1 billion under trade in goods, a deficit of SDR 29.5 billion under trade in services, a deficit of SDR 16.1 billion under primary income and a surplus of SDR 5.1 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of SDR 177.6 billion. In 2025, China posted a surplus of SDR 543.7 billion under the current account, the capital and financial accounts (including net errors and omissions for the fourth quarter) recorded a deficit of SDR 560.9 billion. (End) China's Balance of Payments, Q4 2025 (Preliminary Data) Item Line No. RMB 100 million USD 100 million SDR 100 million 1. Current account 1 17137 2421 1776 Credit 2 86455 12214 8961 Debit 3 -69318 -9793 -7185 1. A Goods and Services 4 18197 2571 1886 Credit 5 79132 11180 8203 Debit 6 -60935 -8609 -6316 1.A.a Goods 7 21043 2973 2181 Credit 8 70524 9963 7310 Debit 9 -49481 -6990 -5129 1.A.b Services 10 -2845 -402 -295 Credit 11 8609 1216 892 Debit 12 -11454 -1618 -1187 1.A.b.1 Processing services 13 187 26 19 Credit 14 242 34 25 Debit 15 -56 -8 -6 1.A.b.2 Maintenance and Repair Services 16 85 12 9 Credit 17 265 38 28 Debit 18 -180 -25 -19 1.A.b.3 Transport 19 -930 -131 -96 Credit 20 2295 324 238 Debit 21 -3225 -456 -334 1.A.b.4 Travel 22 -3294 -465 -341 Credit 23 1200 169 124 Debit 24 -4493 -635 -466 1.A.b.5 Construction 25 264 37 27 Credit 26 439 62 46 Debit 27 -175 -25 -18 1.A.b.6 Insurance and Pension Services 28 -134 -19 -14 Credit 29 12 2 1 Debit 30 -146 -21 -15 1.A.b.7 Financial Services 31 -29 -4 -3 Credit 32 10 1 1 Debit 33 -40 -6 -4 1.A.b.8 Charges for the Use of Intellectual Property 34 -525 -74 -54 Credit 35 260 37 27 Debit 36 -785 -111 -81 1.A.b.9 Telecommunications, Computer, and Information Services 37 810 115 84 Credit 38 1530 216 159 Debit 39 -720 -102 -75 1.A.b.10 Other Business Services 40 831 117 86 Credit 41 2282 322 237 Debit 42 -1451 -205 -150 1.A.b.11 Personal, Cultural, and Recreational Services 43 -76 -11 -8 Credit 44 41 6 4 Debit 45 -117 -17 -12 1.A.b.12 Government Goods and Services n.i.e 46 -35 -5 -4 Credit 47 30 4 3 Debit 48 -65 -9 -7 1.B Primary Income 49 -1552 -220 -161 Credit 50 6383 902 661 Debit 51 -7935 -1121 -822 1.C Secondary Income 52 491 69 51 Credit 53 939 133 97 Debit 54 -448 -63 -46 2. Capital and Financial Accounts (Including Net Errors and Omissions for the Quarter) 55 -17137 -2421 -1776 2.1 Capital Account 56 -4 -1 0 Credit 57 1 0 0 Debit 58 -5 -1 -1 2.2. Financial Account (Including Net Errors and Omissions for the Quarter) 59 -17133 -2420 -1776 2.2.1 Financial Account (Excluding Reserve Assets, But Including Net Errors and Omissions for the Quarter) 60 -16732 -2363 -1734 Including: 2.2.1.1 Direct Investment 61 -79 -11 -8 2.2.1.1.1 Assets 62 -2821 -399 -292 2.2.1.1.1.1 Equity and investment fund shares 63 -2501 -353 -259 2.2.1.1.1.2 Debt instruments 64 -320 -46 -33 2.2.1.1.2 Liabilities 65 2742 388 284 2.2.1.1.2.1 Equity and investment fund shares 66 2494 353 259 2.2.1.1.2.2 Debt instruments 67 248 35 26 2.2.2 Reserve Assets 68 -400 -57 -41 2.2.2.1 Monetary gold 69 0 0 0 2.2.2.2 Special drawing rights 70 21 3 2 2.2.2.3 Reserve position in the IMF 71 4 1 0 2.2.2.4 Foreign exchange reserves 72 -424 -60 -44 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 fourth quarter of 2025, the equity other than reinvestment of earnings under direct investment liabilities (credit) was USD 32.2 billion (RMB 228.0 billion). 6.This table employs rounded-off numbers. China's Balance of Payments, 2025 (Preliminary Data) Item Line No. RMB 100 million USD 100 million SDR 100 million 1. Current account 1 52427 7349 5437 Credit 2 317830 44511 32945 Debit 3 -265403 -37162 -27508 1. A Goods and Services 4 59046 8275 6120 Credit 5 290373 40665 30102 Debit 6 -231327 -32391 -23982 1.A.a Goods 7 73055 10234 7575 Credit 8 259414 36329 26892 Debit 9 -186359 -26095 -19317 1.A.b Services 10 -14009 -1960 -1455 Credit 11 30959 4336 3210 Debit 12 -44968 -6296 -4665 1.A.b.1 Processing services 13 747 105 77 Credit 14 931 130 96 Debit 15 -184 -26 -19 1.A.b.2 Maintenance and Repair Services 16 401 56 42 Credit 17 1003 141 104 Debit 18 -603 -84 -62 1.A.b.3 Transport 19 -3570 -500 -370 Credit 20 8739 1224 906 Debit 21 -12309 -1723 -1276 1.A.b.4 Travel 22 -14203 -1988 -1476 Credit 23 3938 552 408 Debit 24 -18140 -2540 -1884 1.A.b.5 Construction 25 633 89 66 Credit 26 1321 185 137 Debit 27 -688 -96 -71 1.A.b.6 Insurance and Pension Services 28 -890 -124 -92 Credit 29 168 23 17 Debit 30 -1058 -148 -110 1.A.b.7 Financial Services 31 -18 -3 -2 Credit 32 232 32 24 Debit 33 -251 -35 -26 1.A.b.8 Charges for the Use of Intellectual Property 34 -2398 -335 -248 Credit 35 933 131 97 Debit 36 -3331 -466 -345 1.A.b.9 Telecommunications, Computer, and Information Services 37 2262 317 234 Credit 38 5230 733 542 Debit 39 -2967 -415 -308 1.A.b.10 Other Business Services 40 3372 472 350 Credit 41 8201 1149 851 Debit 42 -4829 -676 -501 1.A.b.11 Personal, Cultural, and Recreational Services 43 -227 -32 -23 Credit 44 154 22 16 Debit 45 -381 -53 -39 1.A.b.12 Government Goods and Services n.i.e 46 -118 -17 -12 Credit 47 109 15 11 Debit 48 -227 -32 -24 1.B Primary Income 49 -8179 -1145 -844 Credit 50 24183 3386 2504 Debit 51 -32362 -4531 -3348 1.C Secondary Income 52 1561 219 161 Credit 53 3275 459 339 Debit 54 -1714 -240 -178 2. Capital and Financial Accounts (Including Net Errors and Omissions for the Fourth Quarter) 55 -54217 -7602 -5609 2.1 Capital Account 56 -11 -1 -1 Credit 57 10 1 1 Debit 58 -21 -3 -2 2.2. Financial Account (Including Net Errors and Omissions for the Fourth Quarter) 59 -54206 -7600 -5608 2.2.1 Financial Account (Excluding Reserve Assets, But Including Net Errors and Omissions for the Fourth Quarter) 60 -57567 -8068 -5962 Including: 2.2.1.1 Direct Investment 61 -5874 -820 -612 2.2.1.1.1 Assets 62 -11313 -1584 -1176 2.2.1.1.1.1 Equity and investment fund shares 63 -9706 -1359 -1006 2.2.1.1.1.2 Debt instruments 64 -1607 -225 -170 2.2.1.1.2 Liabilities 65 5440 765 564 2.2.1.1.2.1 Equity and investment fund shares 66 6105 857 634 2.2.1.1.2.2 Debt instruments 67 -666 -92 -70 2.2.2 Reserve Assets 68 3361 468 353 2.2.2.1 Monetary gold 69 0 0 0 2.2.2.2 Special drawing rights 70 -225 -31 -23 2.2.2.3 Reserve position in the IMF 71 -102 -14 -11 2.2.2.4 Foreign exchange reserves 72 3688 513 388 2.2.2.5 Other reserves 73 0 0 0 3. Net Errors and Omissions 74 1789 253 173 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 2025 is the sum of the official amounts of the BOP for 2025Q1, 2025Q2, 2025Q3 and the preliminary amount for 2025Q4. 5.According to preliminary statistics, in 2025, the equity other than reinvestment of earnings under direct investment liabilities (credit) was USD 92.4 billion (RMB 658.9 billion). 6.This table employs rounded-off numbers. 2026-02-13/en/2026/0213/2389.html
-
In December 2025, the export and import of China’s international trade in goods and services totalled RMB 5280.8 billion. Of this, the export of goods recorded RMB 2664.7 billion and the import recorded RMB 1811.4 billion, resulting in a surplus of RMB 853.3 billion. The export of services recorded RMB 354.1 billion and the import recorded RMB 450.7 billion, resulting in a deficit of RMB 96.6 billion. In terms of the major items, the export and import of travel, transport, other business services, telecommunications, computer and information services registered RMB 230.1 billion, RMB 205.0 billion, RMB 149.1 billion and RMB 102.5 billion respectively. In the US dollar terms, in December 2025, the export and import of China’s international trade in goods and services were USD 427.6 billion and USD 320.4 billion respectively, with a surplus of USD 107.2 billion.(End) International Trade in Goods and Services of China December 2025 Item In 100 million of RMB In 100 million of USD Goods and services 7566 1072 Credit 30187 4276 Debit -22621 -3204 1. Goods 8533 1209 Credit 26647 3775 Debit -18114 -2566 2. Services -966 -137 Credit 3541 502 Debit -4507 -638 2.1Manufacturing services on physical inputs owned by others 72 10 Credit 93 13 Debit -22 -3 2.2Maintenance and repair services n.i.e 33 5 Credit 112 16 Debit -80 -11 2.3Transport -267 -38 Credit 891 126 Debit -1159 -164 2.4Travel -1454 -206 Credit 423 60 Debit -1878 -266 2.5Construction 131 19 Credit 195 28 Debit -64 -9 2.6Insurance and pension services -46 -7 Credit 2 0 Debit -48 -7 2.7Financial services -6 -1 Credit 4 1 Debit -10 -1 2.8Charges for the use of intellectual property -282 -40 Credit 72 10 Debit -353 -50 2.9Telecommunications, computer and information services 487 69 Credit 756 107 Debit -269 -38 2.10Other business services 431 61 Credit 961 136 Debit -530 -75 2.11Personal, cultural, and recreational services -35 -5 Credit 21 3 Debit -56 -8 2.12Government goods and services n.i.e -29 -4 Credit 9 1 Debit -39 -5 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: The International Trade in Goods and Services: refers to the trade in goods and services between residents and non-residents, which is based on the same standardas 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 enterprise survey, which 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. 2.1Manufacturing 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. 2.2Maintenance 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. 2.3Transport: 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. 2.4Travel: 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. 2.5Construction 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-life insurance, 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 to communications 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. 2026-01-30/en/2026/0130/2383.html
-
As shown in the statistics of the State Administration of Foreign Exchange (SAFE), in December 2025, the amount of foreign exchange settlement and sales by banks was RMB 2244.6 billion and RMB 1538.2 billion, respectively. During January to December 2025, the accumulative amount of foreign exchange settlement and sales by banks was RMB 18522.7 billion and RMB 17131.4 billion, respectively. In the US dollar terms, in December 2025, the amount of foreign exchange settlement and sales by banks was USD 318.0 billion and USD 217.9 billion, respectively. During January to December 2025, the accumulative amount of foreign exchange settlement and sales by banks was USD 2594.9 billion and USD 2398.3 billion, respectively. In December 2025, the amount of cross-border receipts and payments by non-banking sectors was RMB 5819.7 billion and RMB 5018.6 billion, respectively. During January to December 2025, the accumulative amount of cross-border receipts and payments by non-banking sectors was RMB 56940.5 billion and RMB 54790.6 billion, respectively. In the US dollar terms, in December 2025, the amount of cross-border receipts and payments by non-banking sectors was USD 824.4 billion and USD 710.9 billion, respectively. During January to December 2025, the accumulative amount of cross-border receipts and payments by non-banking sectors was USD 7972.5 billion and USD 7670.4 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 cash transactions and bank’s own cross-border receipts and payments. 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/institutional 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 funds received by non-banking sectors from non-residents via domestic banks; the payments refer to funds paid by non-banking sectors to non-residents via domestic banks. 2026-01-15/en/2026/0115/2381.html
-
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 28.17 trillion (equivalent to USD 3.99 trillion) in December 2025. In terms of markets, the transactions volume of client market was RMB 4.78 trillion (equivalent to USD 0.68 trillion), and the transactions volume of interbank market was RMB 23.39 trillion (equivalent to USD 3.31 trillion). In terms of products, the cumulative transactions volume of the spot market was RMB 10.44 trillion (equivalent to USD 1.48 trillion), and that of the derivatives market was RMB 17.73 trillion (equivalent to USD 2.51 trillion). From January to December 2025, a total of RMB 304.57 trillion (equivalent to USD 42.64 trillion) was traded in the Chinese foreign exchange market. 2026-01-30/en/2026/0130/2384.html