-
As shown in the statistics of the State Administration of Foreign Exchange (SAFE), in June 2021, the amount of foreign exchange settlement and sales by banks was RMB 1518.8 billion and RMB 1377.5 billion, respectively, with a surplus of RMB 141.3 billion. During January to June 2021, the accumulative amount of foreign exchange settlement and sales by banks was RMB 7828.1 billion and RMB 6952.2 billion, respectively, with an accumulative surplus of RMB 876.0 billion. In the US dollar terms, in June 2021, the amount of foreign exchange settlement and sales by banks was USD 236.5 billion and USD 214.5 billion, respectively, with a surplus of USD 22 billion. During January to June 2021, the accumulative amount of foreign exchange settlement and sales by banks was USD 1210.1 billion and USD 1074.5 billion, respectively, with an accumulative surplus of USD 135.6 billion. In June 2021, the amount of cross-border receipts and payments by non-banking sectors was RMB 3550.6 billion and RMB 3345.8 billion, respectively, with a surplus of RMB 204.7 billion. During January to June 2021, the accumulative amount of cross-border receipts and payments by non-banking sectors was RMB 18387.0 billion and RMB 17164.2 billion, respectively, with an accumulative surplus of RMB 1222.8 billion. In the US dollar terms, in June 2021, the amount of cross-border receipts and payments by non-banking sectors was USD 552.8 billion and USD 520.9 billion, respectively, with a surplus of USD 31.9 billion. During January to June 2021, the accumulative amount of cross-border receipts and payments by non-banking sectors was USD 2841.9 billion and USD 2652.9 billion, respectively, with an accumulative surplus of USD 189.0 billion. 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 foreign exchange holders sell foreign exchange to designated foreign exchange bank, and foreign exchange sales means designated bank sells 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 designated foreign exchange bank and client that predetermines foreign exchange currency, amount, exchange rate and tenor which to be executed upon maturity. The unwind amount of forward foreign exchange settlement and sales refers to, where client is unable to perform the original forward contract due to change in its real demand, client to fully or partially close its forward position by executing another deal with opposite direction to the original contract. The rolling amount of forward foreign exchange settlement and sales refers to client to adjust the settlement date of original contract due to change in its real demand. The outstanding amount of forward foreign exchange settlement and sales by the end of the current period refers to the total amount of forward contracts accumulated from all non-matured forward contracts with client. The net Delta exposure of outstanding options refers to the implied foreign exchange spot risk exposure from outstanding option contracts that bank executed with client. The cross-border receipts and payments by non-banking sectors refers to the receipts and payments between domestic non-banking sectors (including institutional and individual residents) and non-residents through domestic banks, excluding receipts and payments in cash. In particular, the statistics includes cross-border receipts and payments between non-banking sectors and non-residents through domestic banks (including RMB and foreign currency), and domestic receipts and payments between non-banking sectors and non-residents through domestic banks (temporarily excluding domestic receipts and payments in RMB between individual residents and non-resident individuals). Data are collected when customers conduct receipts and payments with non-resident counterparties at domestic banks. Specifically, the receipts refer to the capital of non-banking sectors received from non-residents via domestic banks; the payments refer to the capital of non-banking sectors paid to non-residents via domestic banks. 2021-07-23/en/2021/0723/1841.html
-
As at the end of March 2021, China’s external financial assets reached USD 8877.6 billion, external financial liabilities reached USD 6737.5 billion, and net external assets totaled USD 2140 billion. In the external financial assets, direct investment assets amounted to USD 2431.9 billion, portfolio investment assets, USD 965.8 billion, financial derivative assets, USD 16.5 billion, other investment assets, USD 2166.2 billion, and reserves assets, USD 3297.1 billion, accounting for 27 percent, 11 percent, 0.2 percent, 24 percent and 37 percent of external financial assets respectively. In external liabilities, direct investment liabilities were USD 3238.6 billion, portfolio investment liabilities, USD 2028.9 billion, financial derivative liabilities, USD 10.4 billion and other investment liabilities, USD 1459.6 billion, accounting for 48 percent, 30 percent, 0.2 percent and 22 percent of the external financial liabilities respectively. In SDR terms, China’s external financial assets and liabilities reached SDR 6264.1 billion and SDR 4754.1 billion respectively, and external net assets totaled SDR 1510 billion at the end of March 2021. (End) China's International Investment Position, End of March 2021 Item Line No. Position in 100 million USD Position in 100 million SDR Net Position 1 21,400 15,100 Assets 2 88,776 62,641 1 Direct Investment 3 24,319 17,160 1.1 Equity and Investment Fund Shares 4 21,006 14,822 1.2 Debt Instruments 5 3,313 2,338 1.a Financial Sectors 6 3,172 2,238 1.1.a Equity and Investment Fund Shares 7 3,094 2,183 1.2.a Debt Instruments 8 78 55 1.b Non-financial Sectors 9 21,147 14,922 1.1.b Equity and Investment Fund Shares 10 17,912 12,639 1.2.b Debt Instruments 11 3,235 2,282 2 Portfolio Investment 12 9,658 6,815 2.1 Equity and Investment Fund Shares 13 6,655 4,696 2.2 Debt Securities 14 3,003 2,119 3 Financial Derivatives (other than reserves) and Employee Stock Options 15 165 116 4 Other Investment 16 21,662 15,285 4.1 Other Equity 17 89 63 4.2 Currency and Deposits 18 5,292 3,734 4.3 Loans 19 9,355 6,601 4.4 Insurance, Pension, and Standardized Guarantee Schemes 20 178 126 4.5 Trade Credit and Advances 21 5,850 4,128 4.6 Others 22 897 633 5 Reserve Assets 23 32,971 23,265 5.1 Monetary Gold 24 1,059 747 5.2 Special Drawing Rights 25 113 80 5.3 Reserve Position in the IMF 26 103 72 5.4 Foreign Exchange Reserves 27 31,700 22,368 5.5 Other Reserve Assets 28 -5 -3 Liabilities 29 67,375 47,541 1 Direct Investment 30 32,386 22,852 1.1 Equity and Investment Fund Shares 31 29,415 20,756 1.2 Debt Instruments 32 2,971 2,096 1.a Financial Sectors 33 1,816 1,281 1.1.a Equity and Investment Fund Shares 34 1,648 1,163 1.2.a Debt Instruments 35 168 119 1.b Non-financial Sectors 36 30,570 21,570 1.1.b Equity and Investment Fund Shares 37 27,767 19,593 1.2.b Debt Instruments 38 2,803 1,978 2 Portfolio Investment 39 20,289 14,316 2.1 Equity and Investment Fund Shares 40 12,803 9,034 2.2 Debt Securities 41 7,486 5,282 3 Financial Derivatives (other than reserves) and Employee Stock Options 42 104 74 4 Other Investment 43 14,596 10,299 4.1 Other Equity 44 0 0 4.2 Currency and Deposits 45 5,682 4,009 4.3 Loans 46 4,575 3,228 4.4 Insurance, Pension, and Standardized Guarantee Schemes 47 178 125 4.5 Trade Credit and Advances 48 3,691 2,604 4.6 Others 49 372 262 4.7 Special Drawing Rights 50 99 70 Notes:1. This table employs rounded-off numbers. 2. Net International Investment Position refers to assets minus liabilities. Positive figure refers to net assets, and negative figure refers to net liabilities. 3. The SDR denominated data is converted from the USD denominated data, using the exchange rate of SDR against USD at the end of the quarter. 4. The IIP data is revised regularly; please find the latest data in “Data and Statistics”. 2021-06-25/en/2021/0625/1838.html
-
In the first quarter of 2021, China's current account registered a surplus of RMB 450.3 billion, and the capital and financial accounts recorded a deficit of RMB 450.7 billion. In SDR terms, in the first quarter of 2021, China posted a surplus of SDR 48.3 billion under the current account, and a deficit of SDR 48.4 billion under the capital and financial accounts. In the US dollar terms, in the first quarter, China's current account recorded a surplus of USD 69.4 billion, including a surplus of USD 118.7 billion under trade in goods, a deficit of USD 22.2 billion under trade in services, a deficit of USD 29.4 billion under primary income and a surplus of USD 2.3 billion under secondary income. The capital and financial accounts recorded a deficit of USD 69.5 billion, including a deficit of USD 38 million under the capital account, a surplus of USD 75.7 under direct investment, a surplus of USD 3.5 billion under portfolio investment, a surplus of USD 1.8 billion under financial derivatives, a deficit of USD 115.5 billion under other investment, and reserves assets increased by USD 35 billion.(End) Abridged Balance of Payments, Q1 2021 Item Line No. RMB 100 million USD 100 million SDR 100 million 1. Current Account 1 4,503 694 483 Credit 2 54,684 8,433 5,870 Debit 3 -50,180 -7,739 -5,386 1. A Goods and Services 4 6,257 965 672 Credit 5 49,700 7,665 5,335 Debit 6 -43,443 -6,700 -4,663 1.A.a Goods 7 7,696 1,187 826 Credit 8 45,013 6,942 4,832 Debit 9 -37,317 -5,755 -4,006 1.A.b Services 10 -1,439 -222 -154 Credit 11 4,687 723 503 Debit 12 -6,126 -945 -658 1.B Primary Income 13 -1,905 -294 -205 Credit 14 4,308 664 462 Debit 15 -6,213 -958 -667 1.C Secondary Income 16 151 23 16 Credit 17 675 104 72 Debit 18 -524 -81 -56 2. Capital and Financial Account 19 -4,507 -695 -484 2.1 Capital Account 20 -2 -0.4 0 Credit 21 2 0 0 Debit 22 -4 -1 0 2.2 Financial Account 23 -4,505 -695 -484 Assets 24 -19,562 -3,017 -2,100 Liabilities 25 15,057 2,322 1,616 2.2.1 Financial Account Excluding Reserve Assets 26 -2,235 -345 -240 2.2.1.1 Direct Investment 27 4,909 757 527 Assets 28 -1,421 -219 -153 Liabilities 29 6,329 976 679 2.2.1.2 Portfolio Investment 30 228 35 24 Assets 31 -4,647 -717 -499 Liabilities 32 4,874 752 523 2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options 33 116 18 12 Assets 34 229 35 25 Liabilities 35 -113 -17 -12 2.2.1.4 Other Investment 36 -7,488 -1,155 -804 Assets 37 -11,454 -1,766 -1,229 Liabilities 38 3,966 612 426 2.2.2 Reserve Assets 39 -2,269 -350 -244 3. Net Errors and Omissions 40 4 1 0 Notes: 1.The statement is compiled according to BPM6. Reserve assets are included in capital and financial accounts. 2."Credit" is presented as positive value while "debit" as negative value, and the difference is the sum of the "Credit" and the "Debit". All items here in refer to difference, unless marked with "Credit" or "Debit". 3.The RMB denominated quarterly BOP data is converted from the USD denominated BOP data for the quarter using the quarterly average central parity rate of RMB against USD. The quarterly accumulated RMB denominated BOP data is derived from the sum total of the RMB denominated data for the quarters. 4.The SDR denominated quarterly BOP data is converted from the USD denominated BOP data for the quarter using the quarterly average exchange rate of SDR against USD. The quarterly accumulated SDR denominated BOP data is derived from the sum total of the SDR denominated data for the quarters. 5.This statement employs rounded-off numbers. 6.For detailed data, please see the section of “Data and Statistics” at the website of the SAFE. 7. The BOP data is revised regularly; please find the latest data in “Data and Statistics”. 2021-06-25/en/2021/0625/1837.html
-
As at the end of March 2021, China's banking sector recorded external financial assets of USD 1481.3 billion, external liabilities of USD 1572.1 billion, and net external liabilities of USD 90.8 billion including net RMB liabilities of USD 452.3 billion and net foreign currency assets of USD 361.4 billion. Among the external financial assets of the banking sector, by instrument, deposits and loans were USD 1098.3 billion, bonds investment, USD 192.8 billion, and other assets including equity, USD 190.2 billion, accounting for 74 percent, 13 percent and 13 percent of the sector's total external financial assets respectively. By currency, RMB assets were USD 177.8 billion, USD assets were USD 1000 billion, and other currency assets were USD 303.4 billion, accounting for 12 percent, 68 percent and 20 percent respectively. By counterpart sector, the amount invested in the overseas banking sector was USD 814.8 billion, accounting for 55 percent; the amount invested in the overseas non-banking sector was USD 666.5 billion, accounting for 45 percent. Among the external liabilities of the banking sector, by instrument, deposits and loans were USD 837.1 billion, bonds investment, USD 310.9 billion, and other liabilities including equity, USD 424.1 billion, accounting for 53 percent, 20 percent and 27 percent of the sector's total external liabilities respectively. By currency, RMB liabilities were USD 630.1 billion, USD liabilities, USD 582.6 billion, and other currency liabilities, USD 359.4 billion, accounting for 40 percent, 37 percent and 23 percent respectively. By counterpart sector, USD 600.2 billion was from overseas banking sector, accounting for 38 percent; while USD 971.9 billion was from overseas non-banking sector, accounting for 62 percent. (End) 2021-06-24/en/2021/0624/1834.html
-
External Financial Assets and Liabilities of China's Banking Sector (As of March 31, 2021) 2021-06-24/en/2021/0624/1835.html
-
According to the statistics of the State Administrationmof Foreign Exchange (SAFE), the Chinese foreign exchange market (excluding foreign currency pairs, the same below) recorded total transactions of RMB 20.33 trillion (equivalent to USD 3.16 trillion) in June 2021. In terms of markets, the transactions volume of client market was RMB 3.39 trillion(equivalent to USD 0.53 trillion), and the transactions volume of interbank market was RMB 16.93 trillion(equivalent to USD 2.64 trillion). In terms of products, the cumulative transactions volume of the spot market was RMB 8.23 trillion (equivalent to USD 1.28 trillion), and that of the derivatives market was RMB 12.10 trillion(equivalent to USD 1.88 trillion). From January to June 2021, a total of RMB 112.64 trillion (equivalent to USD 17.41 trillion) was traded in the Chinese foreign exchange market. 2021-07-30/en/2021/0625/1839.html
-
China's External Portfolio Investment Assets at the End of June 2021 2021-11-26/en/2021/1126/1889.html
-
In October 2021, China’s international trade in goods and services recorded receipts of RMB 2024.3 billion and payments of RMB1638.1 billion based on statistics of balance of payments(BOP), registering a surplus of RMB 386.2 billion. Specifically, trade in goods registered receipts of RMB 1839.4 billion, payments of RMB 1439.0 billion, recording a surplusof RMB 400.4 billion; trade in services recorded receipts of RMB 184.9 billion, payments of RMB 199.1 billion, resulting in a deficit of RMB 14.2 billion. In the US dollar terms, in October 2021, the receipts and payments of China's international trade in goods and services were USD 315.3 billion and USD 255.2 billion respectively, registering a surplus of USD 60.2 billion. Specifically, the receipts and payments from trade in goods were USD 286.5 billion and USD 224.2 billion respectively, resulting in a surplus of USD 62.4 billion. Trade in services registered receipts and payments of USD 28.8billion and USD 31.0 billion respectively, recording a deficit of USD 2.2 billion. (End) International Trade in Goods and Services of China (Based on the BOP statistics) October 2021 Item In 100 million of RMB In 100 million of USD Goods and services 3862 602 Credit 20243 3153 Debit -16381 -2552 1. Goods 4004 624 Credit 18394 2865 Debit -14390 -2242 2. Services -142 -22 Credit 1849 288 Debit -1991 -310 2.1 Manufacturing services on physical inputs owned by others 71 11 Credit 75 12 Debit -4 -1 2.2 Maintenance and repair services n.i.e 27 4 Credit 45 7 Debit -19 -3 2.3 Transport 15 2 Credit 784 122 Debit -768 -120 2.4 Travel -401 -62 Credit 55 9 Debit -456 -71 2.5 Construction 25 4 Credit 82 13 Debit -58 -9 2.6 Insurance and pension services -36 -6 Credit 10 2 Debit -47 -7 2.7 Financial services 0 0 Credit 21 3 Debit -20 -3 2.8 Charges for the use of intellectual property -99 -15 Credit 64 10 Debit -163 -25 2.9 Telecommunications, computerand information services 64 10 Credit 262 41 Debit -197 -31 2.10 Other business services 209 33 Credit 436 68 Debit -228 -35 2.11 Personal, cultural, and recreational services -6 -1 Credit 7 1 Debit -12 -2 2.12 Government goods and services n.i.e -12 -2 Credit 7 1 Debit -19 -3 Notes: 1. The trade in goodsand services in this table refers to the transactions between residents andnon-residents, based on the same standard as that for BOP statement. The monthly data are preliminary and may be inconsistent with the quarterly data in the BOP statement. 2. The data on international trade in goods and services are prepared in USD, and the RMB data for the current month is derived by converting the USD data at the monthly average central parity rate of the RMB against the USD. 3. This table employs rounded-off numbers. Definition of Indicators: Goods and Services: refers to the trade in goods and services between residents and non-residents, which is based on the same standard as that for the BOP statement. 1. Goods: refers to transactions in goods whereby the economic ownership is transferred between the Chinese residents and non-residents. The credit side records export of goods, while the debit side records import of goods. The data of goods account are mainly from the customs statistics of imports and exports, but differ from the statistics of the customs mainly in the following aspects:first, the goods in the BOP statement only reflect the goods whose ownership has been transferred (e.g. goods under the trade modes such as general trade and processing trade with imported materials), while the goods whose ownershipis not transferred (e.g. manufacturing services with supplied materials or with exported materials) are included in the statistics of trade in services instead of the statistics of trade in goods; second, as required by the BOP statistics, the goods imported and exported are valued on the FOB basis, but as required by the customs, the goods exported are valued on the FOB basis, whereas goods imported are on the CIF basis. Therefore, for the purpose of the BOP statistics, the international transport and insurance premiums are taken out from the value of imported goods and included in the trade in services; and third, the data on net export of goods in merchanting which are not included in the customs statistics are supplemented. 2. Services: includes manufacturing services on physical inputs owned by others, maintenance and repair services n.i.e, transport, travel,construction, insurance and pension services, financial services, charges for the use of intellectual property, telecommunications, computer and information services, other business services, personal, cultural and recreational services, and government goods and services n.i.e. The credit side records services supplied, while the debit side records services received. 2.1 Manufacturingservices 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 isnot transferred between the owner and the processor. The credit side records the manufacturing services supplied by the Chinese residents on physical inputs owned by non-residents, and vice versa for debit side. 2.2 Maintenance and repair services: refer to the maintenance and repair services supplied by residents to non-residents or vice versa on goods and equipment (such as vessel, aircraft, and other transportation facility) owned by the receiving party. The credit side records the maintenance and repair services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.3 Transport: refers to the process of transporting people and goods from one place to another, and the relevant supporting and auxiliary services, as well as postaland delivery services. The credit side records the international transport, postal and delivery services supplied by residents to non-residents, and vice versa for debit side. 2.4 Travel: refers to goods consumed and services purchased by travelers in various economies as non-residents. The credit side records the goods and services provided by the Chinese residents to non-residents who have stayed in China for less than one year, as well as non-residents studying abroad and seeking medical treatment for indefinite period of stay. The debit side records the goods and services purchased by the Chinese residents when traveling, studying or seeking medical services abroad from non-residents. 2.5 Construction services: refer to the establishment, renovation, maintenance or expansion of fixed assets in the form of buildings, land improvement, roads, bridges and dams and other engineering buildings of engineering nature, relevant installation,assembly, painting, pipeline construction, demolition and project management,as well as site preparation, measurement and blasting and other special services. The credit side records the construction services provided by the Chinese residents outside the economic territory. The debit side records the construction services received by the Chinese residents in the Chinese economic territory from non-residents. 2.6 Insuranceand pension services: refers to various insurance services and commission to agents related with insurance transaction. The credit side records the life insurance and annuity, non-lifeinsurance, reinsurance, standardized guarantee services and relevant supporting services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.7 Financial services: refer to financial intermediation and supporting services, excluding those covered by insurance and pension services. The credit side records the financial intermediation and supporting services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.8 Charges for the use of intellectual property: refer to licensed use of intangible, non-productive/non-financial assets and exclusive rights between residents and non-residents and the licensed use of existing original works or prototypes. The credit side records the intellectual property-related services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.9 Telecommunications, computer and information services: refer tocommunications services between residents and non-residents and transactions of services related to computer data and news, excluding commercial services delivered via telephone, computer and Internet. The credit side records the telecommunications, computer and information services supplied by residents to non-residents, and vice versa for debit side. 2.10 Other business services: refer to other types of services between residents and non-residents, including research and development services, professional and management consulting services, technical and trade-related services. The credit side records the other business services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.11 Personal, cultural and recreational services: refer to transactions of personal, cultural and recreational services between residents and non-residents, including audiovisual and related services (films,radio, television programs and music recordings) and other personal, cultural and recreational services (health, education, etc.). The credit side records the related services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.12 Government goods and services n.i.e: refer to various goods and services provided and purchased by governments and international organizations not included in other categories of goods and services. The credit side records the goods and services not included elsewhere and supplied by the Chinese residents to non-residents, and vice versa for debit side. 2021-11-26/en/2021/1126/1890.html
-
As shown in the statistics of the State Administration of Foreign Exchange (SAFE), in November 2021, the amount of foreign exchange settlement and sales by banks was RMB 1509.3 billion and RMB 1348.4 billion, respectively, with a surplus of RMB 160.9 billion. During January to November 2021, the accumulative amount of foreign exchange settlement and sales by banks was RMB 14742.0 billion and RMB 13311.3 billion, respectively, with an accumulative surplus of RMB 1430.7 billion. In the US dollar terms, in November 2021, the amount of foreign exchange settlement and sales by banks was USD 236.0 billion and USD 210.8 billion, respectively, with a surplus of USD 25.2 billion. During January to November 2021, the accumulative amount of foreign exchange settlement and sales by banks was USD 2282.0 billion and USD 2060.3 billion, respectively, with an accumulative surplus of USD 221.6 billion. In November 2021, the amount of cross-border receipts and payments by non-banking sectors was RMB 3544.1 billion and RMB 3332.1 billion, respectively, with a surplus of RMB 211.9 billion. During January to November 2021, the accumulative amount of cross-border receipts and payments by non-banking sectors was RMB 34952.9 billion and RMB 32998.2 billion, respectively, with an accumulative surplus of RMB 1954.7 billion. In the US dollar terms, in November 2021, the amount of cross-border receipts and payments by non-banking sectors was USD 554.2 billion and USD 521.0 billion, respectively, with a surplus of USD 33.1 billion. During January to November 2021, the accumulative amount of cross-border receipts and payments by non-banking sectors was USD 5412.2 billion and USD 5109.5 billion, respectively, with an accumulative surplus of USD 302.7 billion. 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 foreign exchange holders sell foreign exchange to designated foreign exchange bank, and foreign exchange sales means designated bank sells 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 designated foreign exchange bank and client that predetermines foreign exchange currency, amount, exchange rate and tenor which to be executed upon maturity. The unwind amount of forward foreign exchange settlement and sales refers to, where client is unable to perform the original forward contract due to change in its real demand, client to fully or partially close its forward position by executing another deal with opposite direction to the original contract. The rolling amount of forward foreign exchange settlement and sales refers to client to adjust the settlement date of original contract due to change in its real demand. The outstanding amount of forward foreign exchange settlement and sales by the end of the current period refers to the total amount of forward contracts accumulated from all non-matured forward contracts with client. The net Delta exposure of outstanding options refers to the implied foreign exchange spot risk exposure from outstanding option contracts that bank executed with client. The cross-border receipts and payments by non-banking sectors refers to the receipts and payments between domestic non-banking sectors (including institutional and individual residents) and non-residents through domestic banks, excluding receipts and payments in cash. In particular, the statistics includes cross-border receipts and payments between non-banking sectors and non-residents through domestic banks (including RMB and foreign currency), and domestic receipts and payments between non-banking sectors and non-residents through domestic banks (temporarily excluding domestic receipts and payments in RMB between individual residents and non-resident individuals). Data are collected when customers conduct receipts and payments with non-resident counterparties at domestic banks. Specifically, the receipts refer to the capital of non-banking sectors received from non-residents via domestic banks; the payments refer to the capital of non-banking sectors paid to non-residents via domestic banks. 2021-12-24/en/2021/1224/1896.html
-
The State Administration of Foreign Exchange (SAFE) has recently released data on foreign exchange settlement and sales by banks as well as foreign-related receipts and payments by banks on behalf of clients in October 2021. The SAFE Deputy Administrator and Press Spokesperson Wang Chunying answered media questions on China’s foreign exchange receipts and payments of October 2021. Q: Could you brief us on China’s foreign exchange receipts and payments in October 2021? A: China’s foreign exchange market remained stable in October. In terms of the main indicators, first, the foreign exchange settlement and sales by banks recorded a surplus of US$16.5 billion, roughly at the same level as the monthly average in the third quarter. Second, the foreign-related receipts and payments of non-banking sectors also posted a surplus of US$34.8 billion, increasing from the surplus in September. This was mainly because some enterprises postponed their foreign exchange receipts from trade after the National Day Holiday. In September and October, the monthly average surplus of the foreign-related receipts and payments of non-banking sectors was similar to the monthly average since the second quarter, and the overall cross-border capital flows remained basically stable. Third, by the end of October, China’s foreign exchange reserves stood at US$3.2176 trillion, up by 0.5% from the end of September, mainly affected by currency translation and changes in global asset prices. The foreign exchange market expectations were generally stable. According to the relevant indicators of the foreign exchange market, the expectations of market entities on foreign exchange rates were overall stable, and the rational trading pattern of “buying low and selling high” was maintained. Adjusted for the National Day Holiday factor, in September and October, the monthly average sales ratio (the ratio of foreign exchange sold by clients to banks to their foreign-related foreign exchange receipts) recorded 64%, down by 3% comparing to the average monthly level in the third quarter, indicating that the willingness of market entities to sell foreign exchange was stable with a slight decline; in September and October, the monthly average purchases ratio (the ratio of foreign exchange bought by clients from banks to their foreign-related foreign exchange payments) reached 62%, 1% lower than the average monthly level in the third quarter, indicating that the willingness of market entities to purchase foreign exchange remained stable. Cross-border capital flows through major channels were in a rational and orderly manner. In October, cross-border capital related to the real economy, such as trade in goods and direct investment, maintained a certain scale of net inflows, reflecting the supporting role of steady recovery of the domestic economy; net increase in the domestic bonds and equities held by non-residents totaled US$11.5 billion, which was roughly at the same level as the monthly average in the third quarter. In addition, overseas study payments and profit repatriation from direct investment fell from seasonal peaks and became stable. At present, with COVID-19 pandemic still spreading around the world, the recovery of world economy is uncertain, and some developed economies are gradually exiting from their quantitative easing monetary policies, which makes the external environment more complex and severe. However, China maintains a steady economic recovery, constantly shows development resilience and keeps the basic equilibrium of balance of payments. All these will continue to support the smooth operation of China’s foreign exchange market. 2021-11-19/en/2021/1119/1893.html