As shown in the statistics of the State Administration of Foreign Exchange (SAFE), in June 2022, the amount of foreign exchange settlement and sales by banks was RMB 1566.6 billion and RMB 1527.0 billion, respectively, with a surplus of RMB 39.7 billion. During January to June 2022, the accumulative amount of foreign exchange settlement and sales by banks was RMB 8611.6 billion and RMB 8066.3 billion, respectively, with an accumulative surplus of RMB 545.4 billion.
In the US dollar terms, in June 2022, the amount of foreign exchange settlement and sales by banks was USD 233.9 billion and USD 227.9 billion, respectively, with a surplus of USD 5.9 billion. During January to June 2022, the accumulative amount of foreign exchange settlement and sales by banks was USD 1328.9 billion and USD 1243.6 billion, respectively, with an accumulative surplus of USD 85.2 billion.
In June 2022, the amount of cross-border receipts and payments by non-banking sectors was RMB 3876.2 billion and RMB 3895.1 billion, respectively, with a deficit of RMB 18.9 billion.During January to June 2022, the accumulative amount of cross-border receipts and payments by non-banking sectors was RMB 20487.1 billion and RMB 19954.1 billion, respectively, with an accumulative surplus of RMB 533.0 billion.
In the US dollar terms, in June 2022, the amount of cross-border receipts and payments by non-banking sectors was USD 578.6 billion and USD 581.4 billion, respectively, with a deficit of USD 2.8 billion. During January to June 2022, the accumulative amount of cross-border receipts and payments by non-banking sectors was USD 3160.0 billion and USD 3076.6 billion, respectively, with an accumulative surplus of USD 83.4 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 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.