-
As at the end of September 2021, China’s external financial assets reached USD 9056.6 billion, external financial liabilities reached USD 7031.4 billion, and net external assets totaled USD 2025.1 billion. In the external financial assets, direct investment assets amounted to USD 2468.5 billion, portfolio investment assets, USD 966.9 billion, financial derivative assets, USD 13.8 billion, other investment assets, USD 2234.4 billion, and reserves assets, USD 3373 billion, accounting for 27 percent, 11 percent, 0.2 percent, 25 percent and 37 percent of external financial assets respectively. In external liabilities, direct investment liabilities were USD 3422.3 billion, portfolio investment liabilities, USD 2054.8 billion, financial derivative liabilities, USD 10.4 billion and other investment liabilities, USD 1543.9 billion, accounting for 49 percent, 29 percent, 0.1 percent and 22 percent of the external financial liabilities respectively. In SDR terms, China’s external financial assets and liabilities reached SDR 6428.2 billion and SDR 4990.8 billion respectively, and external net assets totaled SDR 1437.4 billion at the end of September 2021. (End) China's International Investment Position, End of September 2021 Item Line No. Position in 100 million USD Position in 100 million SDR Net Position 1 20251 14374 Assets 2 90566 64282 1 Direct Investment 3 24685 17521 1.1 Equity and Investment Fund Shares 4 21160 15019 1.2 Debt Instruments 5 3525 2502 1.a Financial Sectors 6 3567 2532 1.1.a Equity and Investment Fund Shares 7 3437 2440 1.2.a Debt Instruments 8 130 92 1.b Non-financial Sectors 9 21119 14990 1.1.b Equity and Investment Fund Shares 10 17723 12580 1.2.b Debt Instruments 11 3396 2410 2 Portfolio Investment 12 9669 6863 2.1 Equity and Investment Fund Shares 13 6430 4564 2.2 Debt Securities 14 3239 2299 3 Financial Derivatives (other than reserves) and Employee Stock Options 15 138 98 4 Other Investment 16 22344 15859 4.1 Other Equity 17 93 66 4.2 Currency and Deposits 18 4964 3524 4.3 Loans 19 9813 6965 4.4 Insurance, Pension, and Standardized Guarantee Schemes 20 212 150 4.5 Trade Credit and Advances 21 6233 4424 4.6 Others 22 1028 730 5 Reserve Assets 23 33730 23941 5.1 Monetary Gold 24 1092 775 5.2 Special Drawing Rights 25 533 379 5.3 Reserve Position in the IMF 26 101 72 5.4 Foreign Exchange Reserves 27 32006 22718 5.5 Other Reserve Assets 28 -2 -2 Liabilities 29 70314 49908 1 Direct Investment 30 34223 24291 1.1 Equity and Investment Fund Shares 31 31077 22058 1.2 Debt Instruments 32 3146 2233 1.a Financial Sectors 33 1950 1384 1.1.a Equity and Investment Fund Shares 34 1745 1238 1.2.a Debt Instruments 35 206 146 1.b Non-financial Sectors 36 32273 22907 1.1.b Equity and Investment Fund Shares 37 29333 20820 1.2.b Debt Instruments 38 2940 2087 2 Portfolio Investment 39 20548 14585 2.1 Equity and Investment Fund Shares 40 12729 9035 2.2 Debt Securities 41 7819 5550 3 Financial Derivatives (other than reserves) and Employee Stock Options 42 104 74 4 Other Investment 43 15439 10958 4.1 Other Equity 44 0 0 4.2 Currency and Deposits 45 5884 4176 4.3 Loans 46 4527 3213 4.4 Insurance, Pension, and Standardized Guarantee Schemes 47 232 165 4.5 Trade Credit and Advances 48 3920 2782 4.6 Others 49 366 260 4.7 Special Drawing Rights 50 510 362 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”. 2021-12-31/en/2021/1231/1907.html
-
As at the end of September 2021, China's banking sector recorded external financial assets of USD 1561.2 billion, external liabilities of USD 1563.0 billion, and net external liabilities of USD 1.8 billion including net RMB liabilities of USD 445.0 billion and net foreign currency assets of USD 443.1 billion. Among the external financial assets of the banking sector, by instrument, deposits and loans were USD 1148.3 billion, bonds investment, USD 220.6 billion, and other assets including equity, USD 192.3 billion, accounting for 74 percent, 14 percent and 12 percent of the sector's total external financial assets respectively. By currency, RMB assets were USD 212.1 billion, USD assets were USD 1056.7 billion, and other currency assets were USD 292.4 billion, accounting for 14 percent, 68 percent and 19 percent respectively. By counterpart sector, the amount invested in the overseas banking sector was USD 885.2 billion, accounting for 57 percent; the amount invested in the overseas non-banking sector was USD 675.9 billion, accounting for 43 percent. Among the external liabilities of the banking sector, by instrument, deposits and loans were USD 843.9 billion, bonds investment, USD 326.3 billion, and other liabilities including equity, USD 392.8 billion, accounting for 54 percent, 21 percent and 25 percent of the sector's total external liabilities respectively. By currency, RMB liabilities were USD 657.0 billion, USD liabilities, USD 586.0 billion, and other currency liabilities, USD 320.0 billion, accounting for 42 percent, 37 percent and 20 percent respectively. By counterpart sector, USD 591.9 billion was from overseas banking sector, accounting for 38 percent; while USD 971.1 billion was from overseas non-banking sector, accounting for 62 percent. (End) 2021-12-30/en/2021/1230/1903.html
-
Q: The State Administration of Foreign Exchange (SAFE) has just released the latest data regarding China’s foreign exchange reserves. Could you explain the causes for the changes in China’s foreign exchange reserves of November 2021? Also, what will be the future trends? A: By the end of November 2021, China’s foreign exchange reserves stood at US$3.2224 trillion, up by 0.15 percent or US$4.8 billion from the end of October. In November 2021, China’s foreign exchange market transactions remained active, and cross-border capital flows were generally stable. In the international financial market, affected by factors such as the COVID-19 pandemic and the expectations of major countries' monetary policies, the US dollar index increased, and bond prices of major countries generally rose as well. The volume of China’s foreign exchange reserves, dominated in the US dollar, grew up this month due to the combined impacts of currency translation and assets price change. Due to the constant evolution of the COVID-19 pandemic, the global economic recovery is facing more uncertain and unstable factors, and the international financial market is highly volatile. However, owing to coordinated pandemic prevention and control and economic and social development in a scientific way, China’s economic performance was stable and maintained a sustained recovery on the whole, which is conducive to maintaining the overall stability of foreign exchange reserves. 2021-12-07/en/2021/1207/1897.html
-
External Financial Assets and Liabilities of China's Banking Sector (As of September 30, 2021) 2021-12-30/en/2021/1230/1904.html
-
The branches and administrative offices of the State Administration of Foreign Exchange (SAFE) in all provinces, autonomous regions, and municipalities directly under the central government; the branches in Shenzhen, Dalian, Qingdao, Xiamen, and Ningbo; all designated national Chinese-funded foreign exchange banks; the China Foreign Exchange Trade System; and the Shanghai Clearing House, In order to further regulate transactions in the foreign exchange market and promote its healthy development, the SAFE formulated the Guidelines on Code of Conduct for the Foreign Exchange Market on the basis of the laws and regulations, including Laws of the People’s Republic of China on the People’s Bank of China, and Regulations of the People’s Republic of China on Foreign Exchange Administration (Order No. 532 of the State Council of People’s Republic of China). Please see the appendix for the Guidelines on Code of Conduct for the Foreign Exchange Market, and implement it. After receiving the Circular, the branches and administrative offices of the SAFE shall timely forward the Circular to the financial institutions and currency brokerage companies with qualifications of foreign exchange settlement and sale services within their respective jurisdictions. For any problems arising from implementation, please contact the Balance of Payments Department of the SAFE in a timely manner. Appendix: Guidelines on Code of Conduct for the Foreign Exchange Market State Administration of Foreign Exchange November 26, 2021 2021-12-03/en/2021/1203/1909.html
-
2021-12-24http://english.www.gov.cn/shareyourideas2022/
-
In July 2022, the export and import of China’s international trade in goods and services totalled RMB 3915.1 billion, up 11 percent over the same time last year. Of this, the export of goods recorded RMB 1931.1 billion and the import recorded RMB 1515.5 billion, resulting in a surplus of RMB 415.6 billion. The export of services recorded RMB 204.0 billion and the import recorded RMB 264.4 billion, resulting in a deficit of RMB 60.4 billion. In terms of the major items, the export and import of transport, other business services, travel and telecommunications, computer and information services registered RMB 187.4 billion, RMB 83.5 billion, RMB 68.5 billion and RMB 48.8 billion respectively. In the US dollar terms, in July 2022, the export and import of China’s international trade in goods and services were USD 317.1 billion and USD 264.4 billion respectively, with a surplus of USD 52.8 billion. (End) International Trade in Goods and Services of China July 2022 Item In 100 million of RMB In 100 million of USD Goods and services 3552 528 Credit 21351 3171 Debit -17800 -2644 1. Goods 4156 617 Credit 19311 2868 Debit -15155 -2251 2. Services -604 -90 Credit 2040 303 Debit -2644 -393 2.1 Manufacturing services on physical inputs owned by others 68 10 Credit 74 11 Debit -6 -1 2.2 Maintenance and repair services n.i.e 19 3 Credit 45 7 Debit -26 -4 2.3 Transport -117 -17 Credit 878 130 Debit -995 -148 2.4 Travel -587 -87 Credit 49 7 Debit -636 -94 2.5 Construction 14 2 Credit 65 10 Debit -51 -8 2.6 Insurance and pension services -77 -11 Credit 12 2 Debit -89 -13 2.7 Financial services 3 1 Credit 29 4 Debit -26 -4 2.8 Charges for the use of intellectual property -206 -31 Credit 60 9 Debit -266 -39 2.9 Telecommunications, computer and information services 101 15 Credit 295 44 Debit -194 -29 2.10 Other business services 202 30 Credit 519 77 Debit -317 -47 2.11 Personal, cultural, and recreational services -8 -1 Credit 8 1 Debit -16 -2 2.12 Government goods and services n.i.e -17 -2 Credit 7 1 Debit -24 -4 Notes: 1. The trade in goods and services in this table refers to the transactions between residents and non-residents, based on the same standard as that for BOP statement. The monthly data are preliminary and may be inconsistent with the quarterly data in the BOP statement. 2. The data on international trade in goods and services are prepared in USD, and the RMB data for the current month is derived by converting the USD data at the monthly average central parity rate of the RMB against the USD. 3. This table employs rounded-off numbers. Definition of Indicators: Goods and Services: refers to the trade in goods and services between residents and non-residents, which is based on the same standard as that for the BOP statement. 1. Goods: refers to transactions in goods whereby the economic ownership is transferred between the Chinese residents and non-residents. The credit side records export of goods, while the debit side records import of goods. The data of goods account are mainly from the customs statistics of imports and exports, but differ from the statistics of the customs mainly in the following aspects: first, the goods in the BOP statement only reflect the goods whose ownership has been transferred (e.g. goods under the trade modes such as general trade and processing trade with imported materials), while the goods whose ownership is not transferred (e.g. manufacturing services with supplied materials or with exported materials) are included in the statistics of trade in services instead of the statistics of trade in goods; second, as required by the BOP statistics, the goods imported and exported are valued on the FOB basis, but as required by the customs, the goods exported are valued on the FOB basis, whereas goods imported are on the CIF basis. Therefore, for the purpose of the BOP statistics, the international transport and insurance premiums are taken out from the value of imported goods and included in the trade in services; and third, the data on net export of goods in merchanting which are not included in the customs statistics are supplemented. 2. Services: includes manufacturing services on physical inputs owned by others, maintenance and repair services n.i.e, transport, travel, construction, insurance and pension services, financial services, charges for the use of intellectual property, telecommunications, computer and information services, other business services, personal, cultural and recreational services, and government goods and services n.i.e. The credit side records services supplied, while the debit side records services received. 2.1 Manufacturing services on physical owned by others: processor only provides processing, assembly, packaging and other services and charges service fee from the owner, while the ownership of the goods is not transferred between the owner and the processor. The credit side records the manufacturing services supplied by the Chinese residents on physical inputs owned by non-residents, and vice versa for debit side. 2.2 Maintenance and repair services: refer to the maintenance and repair services supplied by residents to non-residents or vice versa on goods and equipment (such as vessel, aircraft, and other transportation facility) owned by the receiving party. The credit side records the maintenance and repair services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.3 Transport: refers to the process of transporting people and goods from one place to another, and the relevant supporting and auxiliary services, as well as postal and delivery services. The credit side records the international transport, postal and delivery services supplied by residents to non-residents, and vice versa for debit side. 2.4 Travel: refers to goods consumed and services purchased by travelers in various economies as non-residents. The credit side records the goods and services provided by the Chinese residents to non-residents who have stayed in China for less than one year, as well as non-residents studying abroad and seeking medical treatment for indefinite period of stay. The debit side records the goods and services purchased by the Chinese residents when traveling, studying or seeking medical services abroad from non-residents. 2.5 Construction services: refer to the establishment, renovation, maintenance or expansion of fixed assets in the form of buildings, land improvement, roads, bridges and dams and other engineering buildings of engineering nature, relevant installation, assembly, painting, pipeline construction, demolition and project management,as well as site preparation, measurement and blasting and other special services. The credit side records the construction services provided by the Chinese residents outside the economic territory. The debit side records the construction services received by the Chinese residents in the Chinese economic territory from non-residents. 2.6 Insurance and pension services: refers to various insurance services and commission to agents related with insurance transaction. The credit side records the life insurance and annuity, non-lifeinsurance, reinsurance, standardized guarantee services and relevant supporting services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.7 Financial services: refer to financial intermediation and supporting services, excluding those covered by insurance and pension services. The credit side records the financial intermediation and supporting services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.8 Charges for the use of intellectual property: refer to licensed use of intangible, non-productive/non-financial assets and exclusive rights between residents and non-residents and the licensed use of existing original works or prototypes. The credit side records the intellectual property-related services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.9 Telecommunications, computer and information services: refer tocommunications services between residents and non-residents and transactions of services related to computer data and news, excluding commercial services delivered via telephone, computer and Internet. The credit side records the telecommunications, computer and information services supplied by residents to non-residents, and vice versa for debit side. 2.10 Other business services: refer to other types of services between residents and non-residents, including research and development services, professional and management consulting services, technical and trade-related services. The credit side records the other business services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.11 Personal, cultural and recreational services: refer to transactions of personal, cultural and recreational services between residents and non-residents, including audiovisual and related services (films, radio, television programs and music recordings) and other personal, cultural and recreational services (health, education, etc.). The credit side records the related services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.12 Government goods and services n.i.e:refer to various goods and services provided and purchased by governments and international organizations not included in other categories of goods and services. The credit side records the goods and services not included elsewhere and supplied by the Chinese residents to non-residents, and vice versa for debit side. 2022-08-26/en/2022/0826/1994.html
-
On July 28, the State Administration of Foreign Exchange (SAFE) held the foreign exchange administration work meeting for the second half of 2022 via video conferencing. At the conference, essential arrangements of the CPC Central Committee and the State Council on economic and financial work were communicated in thorough to all participants. The conference summarized the foreign exchange administration work in the first half of the year, analyzed the current financial and foreign exchange situation, and made arrangements for the key tasks for the second half of the year. Pan Gongsheng, Secretary of the CPC Leadership and Administrator of the SAFE, delivered the work report. Members of the SAFE CPC Leadership and the Chief Accountant also attended the meeting. According to the conference, since the beginning of 2022, the SAFE has adhered to the guidance of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, and earnestly implemented the guidelines of the Central Economic Work Conference and the arrangements of the Government Work Report. Under the specific guidance of the State Council’s Financial Stability and Development Committee, the SAFE steadily and vigorously promoted the inspection and rectification under the Party’s Central Committee, strived for the coordinated epidemic prevention and control as well as economic and social developmentefficient coordination of epidemic control and socioeconomic development, continuously promoted reforms and opening-up in the foreign exchange sector, effectively maintained the stability of the foreign exchange market, and increased the efforts of foreign exchange assistance to support enterprises with the focus on SMEs. In general, the work of the SAFE has achieved positive results, and China’s foreign exchange market has been operating smoothly and showing strong resilience. First, the inspection and rectification under the Party’s Central Committee were put in place. The SAFE earnestly studied and carried out General Secretary Xi Jinping’s important expositions and instructions on inspection work as well as financial and foreign exchange work, implemented the rectification requirements of the “five enhancements” and “four integrations”, and further promoted the “carpet-style” rectification and achieved phased results. Second, the SAFE increased the efforts of foreign exchange assistance to help ease enterprises' burden support enterprises and deepened the reforms and opening-up in the foreign exchange sector. Notably, the SAFE promoted policies on foreign exchange receipt and payment facilitation for trade to high-quality enterprises across the country, and improved the convenience of foreign exchange settlement in new forms and models of cross-border trade. It also broadened the channels of the cross-border financing for high-tech and “professional, refined, specific, and novel” enterprises, expanded the application scenarios of cross-border financial service platforms, and facilitated foreign investors to invest in China’s bond market. The agency actively helped enterprises manage exchange rate risks and took multiple measures to reduce the cost of hedging, expanded the pilot program of integrated domestic and foreign currency capital pools for multinational companies, and carried out pilot programs for high-level opening-up of cross-border trade and investment in certain regions. Third, SAFE has effectively prevented against the risks of cross-border capital flows. It has strengthened the macro-prudential management and expectation management, and maintained a high-pressure crackdown on illegal activities such as underground banks and cross-border gambling. Fourth, the SAFE constantly improved the operation and management of foreign exchange reserves, and China’s foreign exchange reserves remained generally stable. The conference stressed that, in the second half of 2022, the foreign exchange administration at all levels should resolutely implement the arrangements and requirements of the CPC Central Committee on “effectively coordinated COVID-19 prevention and control with economic and social developmentefficiently coordinating pandemic prevention and control, stabilizing the economy, and ensuring security in development”. The SAFE should adhere to the general principle of pursuing progress while ensuring stability, and promote the full, accurate, and comprehensive application of the new development philosophy. The agency should actively introduce and solidly implement the policies and measures conducive to sustaining stable macroeconomic performance and serving the real economy. Meanwhile, it should further deepen the reform and opening-up in the foreign exchange sector, maintain the steady operation and the order of the foreign exchange market, and consolidate and expand the results of inspection and rectification. In short, the SAFE should complete all work tasks this year with full spirit and high quality, and welcome the successful convening of the 20th CPC National Congress 20th National Congress of the CPC with concrete action. The conference outlined key tasks for foreign exchange administration for the second half of 2022. First, the SAFE should acquire a deep understanding of the decisive significance of the establishment of both Comrade Xi Jinping’s core position on the Party Central Committee and in the Party as a whole and the guiding role of Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, and firmly uphold Comrade Xi Jinping’s core position on the Party Central Committee and in the Party as a whole and uphold the Central Committee’s authority and its centralized, unified leadership. It will take inspection and rectification by the Party’s Central Committee as an opportunity to further enforce full, rigorous self-discipline within the Party. Besides, the SAFE will adhere to strengthen the Party’s overall leadership over financial and foreign exchange work, consolidate the results of centralized rectification, and deepen long-term rectification tasks. Furthermore, it will continue to strengthen the strict atmosphere and build a contingent of competent and professional officials loyal to the Party, with moral integrity and a keen sense of responsibility. Second, the SAFE will deepen the reform and opening-up in the foreign exchange sector to stimulate the vitality of market entities. To be specific, it will continue to promote the implementation and effectiveness of cross-border trade and investment facilitation policies, and actively assist in the promotion of exports, expansion of imports, and introduction of technology and foreign capital. It will expand the coverage of policies on foreign exchange receipt and payment facilitation for trade to high-quality enterprises, support the standardized and healthy development of new forms and models of foreign trade, and optimize foreign exchange services for individuals. The agency will improve the management of funds for overseas investors to invest in China’s bond market, and expand pilot programs to facilitate cross-border financing. It will take the micro, small and medium-sized enterprises (MSMEs) as the center to optimize foreign exchange services and support them to better manage exchange rate risks. Third, the SAFE will maintain the stable operation and improve the micro-regulation of the foreign exchange market. Specifically, it will strengthen the monitoring and response to risks in cross-border capital flows, and safeguard national economic and financial security. It will establish a management mechanism featuring substantial truth, diversified methods, due diligence, as well as safety and high efficiency. Moreover, it will severely crack down on violations of laws and regulations in the foreign exchange sector. Fourth, the SAFE will improve the operation and management of foreign exchange reserves and ensure security, liquidity as well as value preservation and appreciation of the foreign exchange reserves. Fifth, the SAFE will consolidate the foundation of foreign exchange administration. It will advance the revision of the Regulations on Foreign Exchange Administration, develop a high-level statistical system on the balance of payments, and further promote the “digital foreign exchange administration” and “safe foreign exchange administration”. Leading officials of relevant departments, affiliated enterprises and institutions of the SAFE attended the conference at the main venue. Officials in charge of the Discipline Inspection and Supervision Office of the CPC Central Commission for Discipline Inspection and the National Commission of Supervision in the PBC, the Financial Audit Bureau I of the National Audit Office, and relevant departments of the PBC were invited to attend the meeting. SAFE branches (administrative offices) participated in the meeting at the branch venues. (End) 2022-07-29/en/2022/0729/1991.html
-
The State Administration of Foreign Exchange (SAFE) has recently released data on foreign exchange settlement and sales by banks as well as cross-border receipts and payments by non-banking sectors in July 2022. The SAFE Deputy Administrator and Press Spokesperson Wang Chunying answered media questions on China’s foreign exchange receipts and payments of July 2022. Q: Could you brief us on China’s foreign exchange receipts and payments in July 2022? A: In general, China’s foreign exchange market operated smoothly, and the supply and demand of foreign exchange market within China kept in balance. In July, due to the influence of seasonal factors such as corporate dividend payouts, the foreign-related receipts and payments by non-banking sectors, including enterprises and individuals, posted a small deficit, which was a normal fluctuation within the balance range. However, in early August, it posted surplus of more than USD 10 billion. The current situation of foreign-related receipts and payments has not changed the overall pattern of domestic foreign exchange supply and demand. In July, the scale of the foreign exchange settlement and sales by banks was basically the same. Taking into account other supply and demand factors, the domestic supply and demand of foreign exchange remained in basic balance. The volume of China’s foreign exchange reserves remained stable. By the end of July 2022, China’s foreign exchange reserves stood at USD 3.1041 trillion, up by USD 32.8 billion from the end of June, mainly due to the combined effects of currency translation and asset price changes. The transactions in China’s foreign exchange market were in a rational and orderly manner, and the willingness of market entities to surrender and purchase foreign exchange was generally stable. In July, the foreign exchange settlement rate, the measurement of customers’ desire to settle foreign exchange, or the ratio of foreign exchange sold by customers to banks to foreign exchange received by customers, increased by 6.1 percentage points from June and reached 71%, at a relatively high level in recent years. On the other hand, the foreign exchange sales rate which measures customers’ desire to buy foreign exchange, or the ratio of foreign exchange purchased by customers from banks to foreign-related foreign exchange payments made by customers, stood at 67%, an increase of 1.8 percentage points from June, which maintained stable on the whole. The continued surplus in the current account played an important role in maintaining the balance in China’s foreign exchange supply and demand. According to the preliminary data, in the first half of 2022, the current account surplus stood at USD 169.1 billion, a year-on-year increase of 45%, and its ratio to Gross Domestic Product (GDP) reached 1.9%, which maintained within a reasonable and balanced range. And the current account continued maintaining a reasonable scale of surplus in July. Since the beginning of this year, the surplus of foreign-related receipts and payments and foreign exchange settlement and sales under the current account have been at high levels in recent years, which was an important source of foreign exchange funds for China. To be specific, trade in goods showed strong resilience. In July, trade in goods in terms of foreign-related receipts and payments registered a surplus of USD 42.1 billion, reflecting the relative advantages of China’s industrial chain and supply chain as well as the achievements of the transformation and upgrading of these areas in recent years. Looking ahead to the future, there are still many unstable and uncertain factors in the external environment. However, China has continued to implement the efficient coordinated epidemic prevention and control as well as economic and social development. China’s economy has continued to recover, with its long-term sound fundamentals unchanged. Meanwhile, China’s foreign exchange market has become more resilient, and thus it has the foundation and conditions to continue to operate smoothly. 2022-08-15/en/2022/0815/1992.html
-
As shown in the statistics of the State Administration of Foreign Exchange (SAFE), in July 2022, the amount of foreign exchange settlement and sales by banks was RMB 1483.3 billion and RMB 1489.4 billion, respectively. During January to July 2022, the accumulative amount of foreign exchange settlement and sales by banks was RMB 10095.0 billion and RMB 9555.6 billion, respectively. In the US dollar terms, in July 2022, the amount of foreign exchange settlement and sales by banks was USD 220.3 billion and USD 221.2 billion, respectively. During January to July 2022, the accumulative amount of foreign exchange settlement and sales by banks was USD 1549.2 billion and USD 1464.9 billion, respectively. In July 2022, the amount of cross-border receipts and payments by non-banking sectors was RMB 3462.8 billion and RMB 3537.6 billion, respectively. During January to July 2022, the accumulative amount of cross-border receipts and payments by non-banking sectors was RMB 23949.8 billion and RMB 23491.8 billion, respectively. In the US dollar terms, in July 2022, the amount of cross-border receipts and payments by non-banking sectors was USD 514.3 billion and USD 525.5 billion, respectively. During January to July 2022, the accumulative amount of cross-border receipts and payments by non-banking sectors was USD 3674.3 billion and USD 3602.1 billion, respectively. Addendum: Glossary and relevant definitions Balance of payments (BOP) refers to all economic transactions between residents and non-residents. Foreign exchange settlement and sales by banks refers to settlement and sale transaction that bank executes for customers and for the banks themselves, including statistic data on settlements of forward contracts for foreign exchange settlement and sales and the exercises of option, and excluding the transactions in the interbank foreign exchange market. The statistic reporting date of Foreign exchange settlement and sales by banks should be the trade day of the Foreign exchange settlement and sales transaction. By definition, foreign exchange settlement means that foreign exchange holders sell foreign exchange to banks, and foreign exchange sales means that banks sell foreign exchange to foreign exchange buyers. The newly signed contract amount of forward foreign exchange settlement and sales refers to the binding forward contract between a bank and its client that predetermines foreign exchange currency, amount, exchange rate and tenor which to be executed upon maturity. The unwind amount of forward foreign exchange settlement and sales refers to, where client is unable to perform the original forward contract due to change in its real demand, client to fully or partially close its forward position by executing another deal with opposite direction to the original contract. The rolling amount of forward foreign exchange settlement and sales refers to client to adjust the settlement date of original contract due to change in its real demand. The outstanding amount of forward foreign exchange settlement and sales by the end of the current period refers to the total amount of forward contracts accumulated from all non-matured forward contracts with client. The net Delta exposure of outstanding options refers to the implied foreign exchange spot risk exposure from outstanding option contracts that bank executed with client. The cross-border receipts and payments by non-banking sectors refers to the receipts and payments between domestic non-banking sectors (including institutional and individual residents) and non-residents through domestic banks, excluding receipts and payments in cash. In particular, the statistics includes cross-border receipts and payments between non-banking sectors and non-residents through domestic banks (including RMB and foreign currency), and domestic receipts and payments between non-banking sectors and non-residents through domestic banks (temporarily excluding domestic receipts and payments in RMB between individual residents and non-resident individuals). Data are collected when customers conduct receipts and payments with non-resident counterparties at domestic banks. Specifically, the receipts refer to the capital of non-banking sectors received from non-residents via domestic banks; the payments refer to the capital of non-banking sectors paid to non-residents via domestic banks. 2022-08-15/en/2022/0815/1988.html