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日前，国家外汇管理局公布了2023年3月末中国外债数据。国家外汇管理局副局长、新闻发言人王春英就相关问题回答了记者提问。 问：请问2023年一季度我国外债情况如何？ 答：2023年一季度，我国外债规模有所回升，结构保持基本稳定。截至2023年3月末，我国全口径（含本外币）外债余额为24909亿美元，较2022年末增加381亿美元，增幅2%。从币种结构看，本币外债占比45%，与2022年末持平；从期限结构看，中长期外债占比44%，较2022年末下降1个百分点。 问：如何看待当前我国外债形势？ 答：我国经济运行开局良好，外债规模有所增长。2023年一季度，我国经济运行实现良好开局，社会生产及融资需求企稳回升。受银行货币与存款余额增长推动，我国外债规模有所增长。 预计未来我国外债规模将继续保持稳定。随着主要发达经济体货币政策紧缩节奏放缓，有关外溢影响将逐步减弱。同时，我国坚持稳中求进工作总基调，经济运行整体回升向好，为我国外债规模稳定提供了根本支撑。下一步，国家外汇管理局将继续推进跨境贸易和投融资便利化，服务实体经济高质量发展。 2023-07-04/dalian/2023/0704/1903.html
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各种货币对美元折算率（2023年6月30日） 2023-07-04/dalian/2023/0704/1900.html
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达州市中心支局积极贯彻党中央、国务院“加快培育贸易新业态新模式”精神，认真落实总局支持贸易新业态发展的政策要求，扎实开展四川省“2023年跨境贸易投融资外汇便利化服务深化年”活动。一是召开辖区2023年外汇管理工作会议，对支持贸易新业态工作进行了部署。二是召开达州市跨境电商外汇管理服务工作座谈会，宣传解读相关外汇政策，指导银行积极支持跨境电商发展。中心支局推动建行达州分行成功为某小微跨境电商企业办理外汇收款**美元。该笔业务是达州市首笔跨境电商外汇业务，实现了全市贸易新业态外汇业务“零”的突破，为支持全市涉外经济发展、助推达州市跨境电商综合试验区建设打下坚实基础。 2023-07-04/sichuan/2023/0704/2257.html
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为深入学习贯彻习近平新时代中国特色社会主义思想，近日，普兰店市支局召开“学理论悟原理”专题座谈会。会议集中学习了习近平总书记在学习贯彻习近平新时代中国特色社会主义思想主题教育工作会议上的讲话。会议勉励大家要切实做到学深悟透、深践笃行，强化理论学习，指导发展实践，真正学出政治忠诚和时代担当。 2023-06-30/dalian/2023/0630/1898.html
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2023年7月3日，中国人民银行党委书记、国家外汇局局长潘功胜会见韩国央行行长李昌镛一行。双方就宏观经济形势及中韩金融合作等议题交换了意见。(完） 2023-07-04/dalian/2023/0704/1901.html
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2023年7月1日下午，中国人民银行召开领导干部会议。中央组织部有关负责同志宣布了中央决定：潘功胜同志任中国人民银行党委书记，免去郭树清同志的中国人民银行党委书记职务、易纲同志的中国人民银行党委副书记职务。 2023-07-04/dalian/2023/0704/1904.html
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Distinguished Party Secretary Chen, Mayor Gong, President Rousseff, and dear guests, Good morning! The topic of my speech today is “Global Financial Cycle: Trends and Implications”. Since the 1990s, the financial indicators such as asset prices, credit growth, bank leverage ratio, and cross-border capital flows have resonated with each other across the world, especially in some developed economies such as the United States and Europe. Over the medium and long term, financial activities witness obvious periodic fluctuations. Since the 1990s, financial markets have experienced three major downturns, namely the dot-com bubble burst in 2000-2002, the global financial crisis in 2008-2009, and the plunge in the global stock, bond and foreign exchange markets in 2022. The financial indicators such as stocks, bonds, and exchange rates together constitute a Financial Conditions Index (FCI) that reflects the overall financial situation, and such an index has undergone rapid and sharp tightening during these three downturns. Because of the dollar’s dominance in the international monetary system, the Federal Reserve (Fed)’s monetary policy has become an important driver of the global financial cycle. The Fed’s three rounds of interest rate hikes respectively in 1999-2000, 2004-2006, and 2022 have led to the three downturns in the global financial cycle. In 2022, the global stock, bond and foreign exchange markets suffered heavily. The global stock market fell by about 20 percent for the whole year, bonds also saw a double-digit decline, cross-border capital flows dropped sharply, and bank credit standards were generally tightened. These are all typical characteristics of a downturn in the global financial cycle. In 2022, the FCI of the United States rose from an extremely low level in history, and the tightening regarding degree and speed was second only to that of the global financial crisis in 2008. The reason for this is Fed’s monetary policy, which experienced drastic tightening after drastic easing. Whenever financial conditions in the United States are tightened, some emerging economies with relatively fragile economic fundamentals and high dependence on external financing will face massive capital outflows, currency depreciation, external debt repayment pressures, and even a financial crisis. Since 2022, with the rapid tightening of financial conditions in the United States, the global financial cycle has moved into a downward phase, and emerging economies have once again faced pressures such as the depreciation of their currencies. From May 2021 to September 2022, the US dollar index rose from 89 to 114, an increase of 28 percent, on a par with the rise from mid-2014 to early 2017. During the same period, the JP Morgan Emerging Markets Currency Index declined 17 percent, a significantly smaller drop than the 29 percent decline between mid-2014 and early 2017. This round of currency depreciation in emerging economies is relatively small, and there are three main reasons. First, the foreign exchange reserves of emerging economies have continued to grow, offering a thicker buffer against capital outflows. Second, many central banks of emerging economies have won the initiative by starting their interest rate hiking cycles ahead of the Fed. Third, commodity-exporting emerging economies have been lifted by the rising global commodity prices. Although the current downturn in the financial cycle has a weaker impact on emerging economies than the previous ones, some emerging economies with weak economic strength and high dependence on external financing are still under great pressure to repay their debts. In recent years, China’s financial cycle has remained relatively stable. Since 2020, the yield on 10-year government bonds has fluctuated within a narrow range between 2.4 percent and 3.4 percent. The difference between the highest and lowest points is less than 100 basis points, which is significantly smaller than the nearly 400 basis points in the United States during the same period. Besides, the aggregate financing to the real economy (AFRE) in China has maintained a growth rate of around 10 percent. The reason behind the relative stability of China’s financial cycle is that the country has maintained a sound monetary policy for a long term. China’s monetary policy focuses on domestic conditions while balancing internal and external equilibria with proper intertemporal adjustments. Instead of following the Fed’s policy, we avoid great volatility in releasing or draining liquidity, and do not advocate competitive zero interest rates or quantitative easing. China’s stable financial cycle creates a suitable environment for its economic performance and financial market operation. The market liquidity remains adequate at a reasonable level, providing sufficient and stable financing for the real economy. Credit impulse is an important indicator to reflect changes in the financial cycle, including the direction of marginal changes in the cycle. Measured by the marginal change in the ratio of newly added credit to gross domestic product (GDP), China’s credit impulse has turned positive and upward since 2023, indicating that the credit is playing an increasingly important role in supporting the economy. Since the beginning of 2023, the forecasts for China’s economic growth have been revised upward in general. The International Monetary Fund (IMF) revised its forecast for China’s economic growth this year from 4.4 percent to 5.2 percent. And just two days ago, the World Bank raised its forecast from 4.3 percent to 5.6 percent. The competitive real interest rate of RMB assets is conducive to the value preservation of the RMB held by China’s trade and investment partners. Measured by the difference between the yield on 2-year government bonds and the core consumer price index (CPI), China’s real interest rate is around 1.7 percent, which is similar to that in the United States after a sharp hike, and is significantly higher than that of developed economies such as Germany and Japan. Amidst the worldwide elevated inflation, the value of RMB bonds as a portfolio diversifier is highlighted. Since 2022, both the government bonds and equities have experienced an obvious decline in developed countries, representing a shift from negative correlation to positive, so the benefits of bonds as a portfolio diversifier for equities have decreased sharply. As for emerging markets, their bonds are always highly correlated with global equities, as they are risky assets. In contrast, Chinese bonds maintains a negative correlation with the global equities, hence a better diversifier. Since 2023, our foreign exchange market has been generally stable. Cross-border capital flows have maintained a basic equilibrium, compared with a relatively high surplus at the beginning of the year. Foreign exchange reserves have witnessed steady growth, and the RMB exchange rate has remained basically stable at an adaptive and equilibrium level. Since mid-April, affected by various internal and external factors, especially the strengthening of the US dollar index due to the US debt ceiling issue, the rising risk aversion driven by small and medium-sized bank risks, and the heightened expectations for Fed rate hikes, and considering that the foundation for the economic recovery in China is not yet solid, the RMB exchange rate has experienced some fluctuations. However, our foreign exchange market has remained stable overall, and the market expectations on the exchange rate and the cross-border capital flows have also remained relatively stable. Looking forward, China’s economy will generally maintain a steady and upward trend, while some market institutions are predicting that the US economy may face a mild recession. At the same time, as the Fed’s rate hike cycle draws to a close, it will be difficult for the US dollar to continue going strong, and its spillover effect is expected to be weaker. Overall, China’s foreign exchange market is expected to remain stable. After years of reform and development, China’s foreign exchange market has taken on new features in recent years: the market has become more resilient, as the market players are more mature and their trading behaviors are more rational. The exchange rate risk hedging instruments have been widely used, and the large increase in the cross-border use of RMB has also greatly reduced China’s exchange rate risk exposure. Meanwhile, the regulators of China’s foreign exchange market have become more composed, mature, and experienced in dealing with market changes. Over the years, we have accumulated a great deal of experience in coping with external shocks, and the macro-prudential policy instruments in our foreign exchange market have also become more abundant. Therefore, we are confident, prepared and capable of maintaining the stability of China’s foreign exchange market. Finally, I wish this year’s Lujiazui Forum a complete success. Thank you! 2023-06-08/en/2023/0608/2094.html
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The State Administration of Foreign Exchange (SAFE) has recently released the data on foreign exchange settlement and sales by banks as well as cross-border receipts and payments by non-banking sectors in May 2023. The SAFE Deputy Administrator and Press Spokesperson Wang Chunying answered media questions on China's foreign exchange receipts and payments of May 2023. Q: Could you brief us on China's foreign exchange receipts and payments in May 2023? A: The supply and demand of the foreign exchange market remained generally balanced. In May, the surpluses registered by foreign exchange settlement and sales by banks and cross-border receipts and payments by non-banking sectors (including enterprises and individuals) were USD 3.3 billion and USD 1.9 billion, respectively. Considering other supply and demand factors, China's foreign exchange market's overall supply and demand remained balanced. Market expectations remained stable, and transactions in China's foreign exchange market were conducted rationally and orderly. In May, the foreign exchange settlement rate (the ratio of foreign exchange sold by customers to banks to foreign exchange received by customers) reached 72%, roughly the same as the previous month. It reflects that the willingness of market entities to settle foreign exchange remained at a near one-year high, with an overall trend of engaging in rational trading by selling foreign exchange at high levels. Meanwhile, the foreign exchange sales rate (the ratio of foreign exchange purchased by customers from banks to foreign-related foreign exchange payments made by customers) reached 70.4%, down 0.7 percentage points compared to the previous month, indicating that the willingness of market entities to purchase foreign exchange remained generally stable. Cross-border capital flows through major channels were conducted rationally and orderly. Under the current account, the surplus registered by trade in goods in foreign-related receipts and payments increased by 23% compared to the previous month, contributing to the stabilization of cross-border capital flows. However, due to the slow recovery of cross-border travel by residents, there was an increase in the deficit in service trade in terms of foreign-related receipts and payments. Under the capital account, China continued to see a net inflow of foreign direct investment, while the domestic bond market attracted more foreign investment, indicating further improvement. Additionally, domestic entities' outbound direct investment and portfolio investment activities continued to be consistent and well-organized. Looking ahead, it is anticipated that China's economy will continue to grow with the help of well-coordinated macro policies, further strengthening its position in the foreign exchange market. The US dollar is unlikely to continue to rise as major developed economies finish their cycle of tightening monetary policy, and any associated spillover effects will progressively fade. Additionally, China's foreign exchange market has proven to be more resilient and better able to adapt to changes in the outside environment, resulting in stable and well-managed cross-border capital flows in China. 2023-06-15/en/2023/0615/2095.html
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On July 3, 2023, Pan Gongsheng, Secretary of CPC Committee at PBoC and SAFE Administrator, met with Mr. Rhee Chang Yong, the Governor of Bank of Korea. They exchanged views on issues of macroeconomic developments and financial cooperation between China and Korea. 2023-07-03/en/2023/0703/2093.html
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2023-07-04https://www.gov.cn/yaowen/liebiao/202307/content_6889679.htm