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The State Administration of Foreign Exchange (SAFE) has recently released the data on the purchases and sales of foreign exchange by banks and the cross-border receipts and payments by non-banking sectors for October 2025. SAFE Deputy Administrator and Press Spokesperson Li Bin answered media questions on foreign exchange market situation for October 2025. Q: Could you brief us on China’s foreign exchange market situation since October? What are its key characteristics and changes? A: Since the beginning of October, volatility in global financial markets has increased, with the U.S. dollar index generally trending upward. Despite this, China’s foreign exchange market has continued to operate steadily. First, the supply and demand of the foreign exchange market remained broadly balanced. The surplus of foreign exchange purchases and sales by banks in October reached USD 17.7 billion, which narrowed month-on-month, reflecting a more balanced pattern. Enterprises and other entities engaged in foreign exchange purchases and sales transactions in an orderly manner based on actual needs, with the purchase rate and sale rate largely in line with the monthly averages recorded over the first nine months of this year. Second, cross-border capital flows remained stable. Influenced by factors such as the National Day and Mid-Autumn Festival holidays, enterprises, individuals, and other non-banking sectors experienced a slight net outflow of cross-border capital in September, whereas the net inflows increased in October. On a two-month average, cross-border receipts and payments showed a surplus of USD 24 billion. Specifically, net inflows under trade in goods remained high. Net c ross-border capital outflows under trade in services and investment income narrowed month-on-month, partly due to seasonal declines in cross-border expenditures such as resident overseas travel and dividend payments by foreign-invested enterprises. Overall, China’s foreign exchange market operates with stable expectations, balanced supply and demand, as well as strong resilience and vitality. 2025-11-17/en/2025/1117/2364.html
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In order to thoroughly implement the guiding principles of the Third Plenary Session of the 20th Central Committee of the Communist Party of China (CPC) and the Central Economic Work Conference, and improve the transparency of foreign exchange-related laws, regulations, and policies, the State Administration of Foreign Exchange (SAFE) has recently updated and released the Catalog of Current Major Laws and Regulations in Effect on Foreign Exchange Administration (as of June 30, 2025) (hereinafter referred to as the Catalogue) for the convenience of the general public. The updated Catalog includes a total of 174 major regulations on foreign exchange administration issued as of June 30, 2025, which are classified into eight categories, i.e., general, foreign exchange administration under the current account, foreign exchange administration under the capital account, supervision of foreign exchange business of financial institutions, renminbi exchange rate and foreign exchange market, balance of payments and foreign exchange statistics, foreign exchange inspection and application of laws and regulations, and technology management in the foreign exchange administration. These regulations are further divided into several sub-categories according to specific business types. The SAFE will continue to follow the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, balance development and security, advance reform and opening up of the foreign exchange sector to a deeper level and wider scope, further enact, revise, repeal, and interpret foreign exchange administration laws and regulations on an ongoing basis, and improve the quality and efficiency of foreign exchange services for the real economy. 2025-07-31/en/2025/0731/2370.html
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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 2025. The statistics show that China's external portfolio investment assets (excluding reserve assets) amounted to USD 1694.2 billion by the end of June 2025, including USD 1076.3 billion in equity investments and USD 617.9 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 816.1 billion, USD 330.7 billion, USD 125.2 billion, USD 67.2 billion and USD 39.2 billion respectively. By the end of June 2025, 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 958.4 billion, USD 472.8 billion and USD 262.9 billion respectively, accounting for 57 percent, 28 percent and 16 percent of China’s total external portfolio investment assets. (End) 2025-11-28/en/2025/1128/2365.html
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According to the statistics released by the State Administration of Foreign Exchange (SAFE), by the end of October 2025, China's foreign exchange reserves totaled USD 3.3433 trillion, up by USD 4.7 billion or 0.14% from the end of September 2025. In October 2025, driven by factors such as monetary policies, market expectations, and macroeconomic data of major economies, the US dollar index increased and global financial asset prices generally rose. China's foreign exchange reserves increased this month due to the combined effects of currency translation and changes in asset prices. China's economy is on solid foundations, demonstrating advantages in many areas, strong resilience, and great potential. The conditions and underlying trends supporting long-term growth remain unchanged, which is conducive to the stabilization of foreign exchange reserves. 2025-11-07/en/2025/1107/2363.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 21.97 trillion (equivalent to USD 3.10 trillion) in October 2025. In terms of markets, the transactions volume of client market was RMB 3.57 trillion (equivalent to USD 0.50 trillion), and the transactions volume of interbank market was RMB 18.40 trillion (equivalent to USD 2.59 trillion). In terms of products, the cumulative transactions volume of the spot market was RMB 8.26 trillion (equivalent to USD 1.16 trillion), and that of the derivatives market was RMB 13.71 trillion (equivalent to USD 1.93 trillion). From January to October 2025, a total of RMB 252.07 trillion (equivalent to USD 35.21 trillion) was traded in the Chinese foreign exchange market. 2025-11-28/en/2025/1128/2368.html
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FILE: Catalog of Current Major Laws and Regulations in Effect on Foreign Exchange Administration (As of June 30, 2025) 2025-07-31/en/2025/0731/2369.html
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In March 2026, the export and import of China’s international trade in goods and services totalled RMB 4987.6 billion. Of this, the export of goods and services recorded RMB 2643.7 billion and the import recorded RMB 2343.9 billion, resulting in a surplus of RMB 299.9 billion. In terms of the major services items, the export and import of travel, other business services, transport, telecommunications, computer and information services registered RMB 183.3 billion, RMB 157.9 billion, RMB 142.8 billion and RMB 73.1 billion respectively. In the US dollar terms, in March 2026, the export and import of China’s international trade in goods and services were USD 382.9 billion and USD 339.5 billion respectively, with a surplus of USD 43.4 billion.(End) International Trade in Goods and Services of China March 2026 Item In 100 million of RMB In 100 million of USD Goods and services 2999 434 Credit 26437 3829 Debit -23439 -3395 1. Goods 4679 678 Credit 23940 3468 Debit -19261 -2790 2. Services -1680 -243 Credit 2498 362 Debit -4178 -605 2.1Manufacturing services on physical inputs owned by others 66 10 Credit 86 12 Debit -20 -3 2.2Maintenance and repair services n.i.e 16 2 Credit 90 13 Debit -74 -11 2.3Transport -496 -72 Credit 466 68 Debit -962 -139 2.4Travel -945 -137 Credit 444 64 Debit -1389 -201 2.5Construction 56 8 Credit 98 14 Debit -42 -6 2.6Insurance and pension services -175 -25 Credit -30 -4 Debit -145 -21 2.7Financial services 6 1 Credit 35 5 Debit -30 -4 2.8Charges for the use of intellectual property -276 -40 Credit 74 11 Debit -350 -51 2.9Telecommunications, computer and information services 217 31 Credit 474 69 Debit -257 -37 2.10Other business services -116 -17 Credit 732 106 Debit -847 -123 2.11Personal, cultural, and recreational services -11 -2 Credit 19 3 Debit -30 -4 2.12Government goods and services n.i.e -23 -3 Credit 10 1 Debit -33 -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. 2026-04-29/en/2026/0429/2412.html
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As at the end of 2025, China recorded RMB 16.3689 trillion in outstanding external debt denominated in both domestic and foreign currencies (equivalent to USD 2328.8billion,excluding those of Hong Kong SAR,Macao SAR, and Taiwan Province of China, the same below). In terms of maturity structure, the outstanding medium-and long-term external debt was RMB 7112.8 billion (equivalent to USD 1011.9 billion), accounting for 44 percent; while the outstanding short-term external debt was RMB 9256.1 billion (equivalent to USD 1316.9 billion), taking up 56 percent, of which 39 percent was trade-related credit. In terms of institutional sectors, the outstanding debt of general government totaled RMB 2557.0 billion (equivalent to USD 363.8 billion), accounting for 16 percent; the outstanding debt of the central bank totaled RMB 743.8 billion(equivalent to USD 105.8 billion), accounting for 4 percent; the outstanding debt of banks totaled RMB 6559.1 billion(equivalent to USD 933.2 billion), accounting for 40 percent; the outstanding debt of other sectors (including inter-company lending under direct investments) totaled RMB 6509.0 billion (equivalent to USD 926.0 billion), accounting for 40 percent. In terms of debt instruments, the balance of loans was RMB 2169.8 billion (equivalent to USD 308.7 billion), accounting for 13 percent; the outstanding trade credits and advances was RMB 2961.9 billion (equivalent to USD 421.4 billion), accounting for 18 percent; the outstanding currency and deposits was RMB 3323.5 billion (equivalent to USD 472.8 billion), accounting for 20 percent; the outstanding debt securities was RMB 4819.3 billion (equivalent to USD 685.7 billion), accounting for 30 percent; the Special Drawing Rights (SDR) allocation amounted to RMB 348.5 billion (equivalent to USD 49.6 billion), accounting for 2 percent; the balance of inter-company lending under direct investments totaled RMB 2004.8 billion (equivalent to USD 285.2 billion), accounting for 12 percent; and the balance of other debt liabilities was RMB 741.1 billion (equivalent to USD 105.4 billion), accounting for 5 percent. With respect to currency structures, the outstanding external debt in domestic currency totaled RMB 9082.5 billion (equivalent to USD 1292.2 billion), accounting for 55 percent; the outstanding external debt in foreign currencies (including SDR allocation) totaled RMB 7286.4 billion (equivalent to USD 1036.6 billion), accounting for 45percent. In the outstanding registered external debt in foreign currencies, the USD debt accounted for 76 percent, the Euro debt accounted for 9 percent, the JPY debt accounted for 4 percent, the HKD debt accounted for 6 percent，the SDR and other foreign currency-denominated external debt accounted for 5 percent. As at the end of 2025，the liability ratio was 11.9 percent, the debt ratio was 56.3 percent, the debt servicing ratio was 6.2 percent, and the ratio of short-term external debt to foreign exchange reserves was 39.2 percent. China’s major external debt indicators were all within the internationally recognized thresholds, indicating that the external debt risk is controllable. Appendix Definition of terms and interpretations External debt classification by maturity structure. There are two methods to classify the external debt by maturity structure. One is on the basis of the contractual maturity, i.e. it is classified as medium- and long-term external debt if the contractual maturity is over one year, and classified as short-term external debt if the contractual maturity is one year or less; the other is on the basis of the remaining maturity, i.e., on the basis of the contractual maturity classification method above, the medium- and long-term external debt due within one year is classified as short-term external debt. In this news release, external debt is divided into medium- and long-term external debt and short-term external debt based on the contractual maturity. Trade-related credit is a broad concept. In addition to trade credit and advances, it also involves other kinds of credit provided for trade activities. According to its definition, trade-related credit includes trade credit and advances, bank trade financing, trade related bills, and so forth. In particular, trade credit and advances refer to external liability arising from directly extending credit between the seller and buyer of goods transactions, specifically transactions between residents in the Chinese Mainland and overseas non-residents (including non-residents in Hong Kong SAR, Macao SAR,and Taiwan Province of China), i.e., the debt incurred due to the difference between the time of payment and the time of the goods ownership transfer, which include credit directly provided by the supplier (e.g., the overseas exporter)for goods and services, and prepayments made by buyers (e.g., overseas importers) for goods, services, and work that is in progress (or work to be undertaken). Bank trade financing refers to trade related loans that offered by a third party (e.g., banks) to exporters or importers, for instance, loans extended by foreign financial institutions or export credit agencies to buyers. Liability ratio refers to the ratio of outstanding external debt as of the end of the year tothe GDP for the year. Debt ratio refers to the ratio of the outstanding external debt as of the end of the year to the export revenue from trade in goods and services for the year. Debt servicing ratio refers to the ratio of the repayment of the principal and payment of interest on external debt for the year (the sum of the repayment of the principal and payment of interest on medium- and long-term external debt and the payment of the interest of short-term external debt) to the export revenue from trade in goods and services for the year. The internationally recognized thresholds for external debt risk indicators - liability ratio, debt ratio, debt servicing ratio and ratio of short-term external debt to foreign exchange reserves are 20 percent,100 percent, 20 percent and 100 percent respectively. Annexed table：China’s Gross External Debt Position by Sector, End of 2025 End of 2025 End of 2025 （Unit:100 million RMB） （Unit:100million US dollars） General Government 25570 3638 Short-term 148 21 Currency and deposits 0 0 Debt securities 148 21 Loans 0 0 Trade credit and advances 0 0 Other debt liabilities 0 0 Long-term 25422 3617 Special drawing rights (allocations) 0 0 Currency and deposits 0 0 Debt securities 22321 3176 Loans 3101 441 Trade credit and advances 0 0 Other debt liabilities 0 0 Central Bank 7438 1058 Short-term 3332 474 Currency and deposits 1528 217 Debt securities 1804 257 Loans 0 0 Trade credit and advances 0 0 Other debt liabilities 0 0 Long-term 4106 584 Special drawing rights (allocations) 3485 496 Currency and deposits 0 0 Debt securities 0 0 Loans 0 0 Trade credit and advances 0 0 Other debt liabilities 621 88 Other Depository Corporations 65591 9332 Short-term 49358 7022 Currency and deposits 26558 3778 Debt securities 9533 1356 Loans 12678 1804 Trade credit and advances 0 0 Other debt liabilities 589 84 Long-term 16233 2310 Currency and deposits 4390 625 Debt securities 9332 1328 Loans 2453 349 Trade credit and advances 0 0 Other debt liabilities 58 8 Other Sectors 45042 6408 Short-term 35714 5081 Currency and deposits 721 103 Debt securities 773 110 Loans 1318 188 Trade credit and advances 29101 4140 Other debt liabilities 3800 541 Long-term 9328 1327 Currency and deposits 38 5 Debt securities 4281 609 Loans 2149 306 Trade credit and advances 518 74 Other debt liabilities 2342 333 Direct Investment: Intercompany Lending 20048 2852 Debt liabilities of direct investment enterprises to direct investors 10845 1543 Debt liabilities of direct investors to direct investment enterprises 2013 286 Debt liabilities to fellow enterprises 7190 1023 Gross External Debt Position 163689 23288 Notes: 1. The short-term and long-term herein are broken down by contractual (original) maturity. 2. The data in this table have been rounded off. 3. SAFE has improved the data revision mechanism since 2025, based on newly acquired data. For the latest data, please refer to “Data and Statistics” section. 2026-03-27/en/2026/0327/2408.html
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In the first quarter of 2026, China's current account registered a surplus of RMB 1282.1 billion, including a surplus of RMB 1721.2 billion under trade in goods, a deficit of RMB 413.9 billion under trade in services, a deficit of RMB 52.0 billion under primary income and a surplus of RMB 26.8 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of RMB 1282.1 billion. Inward foreign direct investments (FDI) continued the net inflow. In the US dollar terms, in the first quarter of 2026, China's current account registered a surplus of USD 184.1 billion, including a surplus of USD 247.4 billion under trade in goods, a deficit of USD 59.6 billion under trade in services, a deficit of USD 7.5 billion under primary income and a surplus of USD 3.9 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of USD 184.1 billion. In SDR terms, in the first quarter of 2026, China's current account registered a surplus of SDR 134.4 billion, including a surplus of SDR 180.6 billion under trade in goods, a deficit of SDR 43.5 billion under trade in services, a deficit of SDR 5.5 billion under primary income and a surplus of SDR 2.8 billion under secondary income. The capital and financial accounts (including net errors and omissions for the quarter) recorded a deficit of SDR 134.4 billion.(End) China's Balance of Payments, Q1 2026 (Preliminary Data) Item Line No. RMB 100 million USD 100 million SDR 100 million 1. Current account 1 12821 1841 1344 Credit 2 79791 11480 8386 Debit 3 -66969 -9639 -7043 1. A Goods and Services 4 13073 1878 1371 Credit 5 73736 10609 7750 Debit 6 -60662 -8731 -6379 1.A.a Goods 7 17212 2474 1806 Credit 8 66690 9595 7010 Debit 9 -49478 -7122 -5204 1.A.b Services 10 -4139 -596 -435 Credit 11 7045 1014 740 Debit 12 -11184 -1610 -1176 1.A.b.1 Processing services 13 166 24 17 Credit 14 232 33 24 Debit 15 -66 -9 -7 1.A.b.2 Maintenance and Repair Services 16 100 14 10 Credit 17 263 38 28 Debit 18 -163 -23 -17 1.A.b.3 Transport 19 -986 -142 -104 Credit 20 1316 189 138 Debit 21 -2302 -332 -242 1.A.b.4 Travel 22 -3293 -473 -346 Credit 23 1054 152 111 Debit 24 -4347 -625 -457 1.A.b.5 Construction 25 161 23 17 Credit 26 310 45 33 Debit 27 -149 -21 -16 1.A.b.6 Insurance and Pension Services 28 -254 -37 -27 Credit 29 16 2 2 Debit 30 -271 -39 -29 1.A.b.7 Financial Services 31 -9 -1 -1 Credit 32 96 14 10 Debit 33 -106 -15 -11 1.A.b.8 Charges for the Use of Intellectual Property 34 -569 -82 -60 Credit 35 202 29 21 Debit 36 -771 -111 -81 1.A.b.9 Telecommunications, Computer, and Information Services 37 417 60 44 Credit 38 1225 176 129 Debit 39 -808 -116 -85 1.A.b.10 Other Business Services 40 184 26 19 Credit 41 2244 323 236 Debit 42 -2060 -297 -217 1.A.b.11 Personal, Cultural, and Recreational Services 43 -20 -3 -2 Credit 44 59 8 6 Debit 45 -79 -11 -8 1.A.b.12 Government Goods and Services n.i.e 46 -35 -5 -4 Credit 47 28 4 3 Debit 48 -63 -9 -7 1.B Primary Income 49 -520 -75 -55 Credit 50 5346 769 562 Debit 51 -5866 -844 -617 1.C Secondary Income 52 268 39 28 Credit 53 709 102 75 Debit 54 -441 -64 -46 2. Capital and Financial Accounts (Including Net Errors and Omissions for the Quarter) 55 -12821 -1841 -1344 2.1 Capital Account 56 -3 0 0 Credit 57 3 0 0 Debit 58 -5 -1 -1 2.2. Financial Account (Including Net Errors and Omissions for the Quarter) 59 -12819 -1841 -1343 2.2.1 Financial Account (Excluding Reserve Assets, But Including Net Errors and Omissions for the Quarter) 60 -9474 -1361 -994 Including: 2.2.1.1 Direct Investment 61 -703 -101 -74 2.2.1.1.1 Assets 62 -3079 -444 -324 2.2.1.1.1.1 Equity and investment fund shares 63 -2536 -365 -266 2.2.1.1.1.2 Debt instruments 64 -544 -79 -58 2.2.1.1.2 Liabilities 65 2377 343 250 2.2.1.1.2.1 Equity and investment fund shares 66 2649 382 279 2.2.1.1.2.2 Debt instruments 67 -273 -39 -29 2.2.2 Reserve Assets 68 -3345 -479 -349 2.2.2.1 Monetary gold 69 0 0 0 2.2.2.2 Special drawing rights 70 33 5 4 2.2.2.3 Reserve position in the IMF 71 19 3 2 2.2.2.4 Foreign exchange reserves 72 -3397 -487 -354 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 first quarter of 2026, the equity other than reinvestment of earnings under direct investment liabilities (credit) was USD 20.7 billion (RMB 143.9 billion). 6.This table employs rounded-off numbers. 2026-05-15/en/2026/0515/2414.html
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As shown in the statistics of the State Administration of Foreign Exchange (SAFE), in March 2026, the amount of foreign exchange settlement and sales by banks was RMB 1888.9 billion and RMB 1778.6 billion, respectively. During January to March 2026, the accumulative amount of foreign exchange settlement and sales by banks was RMB 5327.5 billion and RMB 4360.6 billion, respectively. In the US dollar terms, in March 2026, the amount of foreign exchange settlement and sales by banks was USD 273.6 billion and USD 257.6 billion, respectively. During January to March 2026, the accumulative amount of foreign exchange settlement and sales by banks was USD 766.4 billion and USD 627.7 billion, respectively. In March 2026, the amount of cross-border receipts and payments by non-banking sectors was RMB 5687.8 billion and RMB 5909.2 billion, respectively. During January to March 2026, the accumulative amount of cross-border receipts and payments by non-banking sectors was RMB 15328.4 billion and RMB 14727.7 billion, respectively. In the US dollar terms, in March 2026, the amount of cross-border receipts and payments by non-banking sectors was USD 823.9 billion and USD 855.9 billion, respectively. During January to March 2026, the accumulative amount of cross-border receipts and payments by non-banking sectors was USD 2205.5 billion and USD 2119.9 billion, respectively. Addendum: Glossary and relevant definitions 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. 2026-04-15/en/2026/0415/2409.html