Chinanews.com, October 23. The State Council Information Office held a press conference today. Wang Chunying, deputy director and spokesperson of the State Administration of Foreign Exchange, introduced the foreign exchange receipts and payments data for the first three quarters of 2020.
Wang Chunying said that in the first three quarters of 2020, the scale of my country's foreign exchange reserves rose steadily, and the domestic foreign exchange market remained basically balanced. Changes in foreign exchange reserves were mainly affected by factors such as exchange rate translation and asset price changes.
Wang Chunying said that since 2020, under the impact of the global spread of the new crown pneumonia epidemic, the world economy has experienced a deep recession and the international financial market has intensified turbulence.
my country has coordinated the promotion of epidemic prevention and control and economic and social development, the domestic economy has recovered steadily, and the recovery momentum is leading the world, which has strongly promoted my country's international balance of payments and the stability of the foreign exchange market.
Generally speaking, in the first three quarters, my country's cross-border capital flow maintained stable operation, and the supply and demand in the foreign exchange market continued to be basically balanced.
According to Wang Chunying, according to the bank's foreign exchange settlement and sales data, in the first three quarters of 2020, in the first three quarters of 2020, in the first three quarters of 2020, in the first three quarters of 2020, bank settlements were 1,466.3 billion US dollars, and 1390.1 billion US dollars were sold, with a surplus of 76.2 billion US dollars. Yuan, foreign exchange sales of 9.71 trillion yuan, and a surplus of 535.7 billion yuan.
According to the data of foreign-related receipts and payments of banks on behalf of clients, in US dollars, the foreign-related income of banks on behalf of clients was 315.5 billion US dollars, foreign payments were US$3,068.1 billion, and the surplus of foreign-related receipts and payments was 37.4 billion US dollars; in RMB, the foreign-related income of banks on behalf of clients was 21.70 trillion yuan. , Foreign payments were 21.44 trillion yuan, and foreign-related receipts and payments had a surplus of 260 billion yuan.
Wang Chunying said that in the first three quarters of 2020, my country's foreign exchange receipts and payments mainly showed the following characteristics:
First, the bank settlement and sales aggregates showed a surplus, and the supply and demand in the foreign exchange market remained basically balanced.
In the first three quarters of 2020, banks had a surplus of US$76.2 billion in foreign exchange settlement and sales.
Among them, the foreign exchange settlement and sales in the first half of the year had a surplus of US$78.6 billion, and the third quarter had a slight deficit of US$2.4 billion.
Taking into account other supply and demand factors such as the net purchase of foreign exchange by foreign institutions in the inter-bank foreign exchange market and the increase in bank foreign exchange positions, the supply and demand of my country's foreign exchange market remained basically balanced in the first three quarters.
Second, the overall cross-border capital has shown a net inflow, which has continued to show a surplus pattern since the second quarter.
In the first three quarters, the bank’s foreign-related income and expenditure surplus was US$37.4 billion, of which, the deficit in the first quarter was US$26 billion, reflecting the impact of the turmoil in the international financial market; The surplus was USD 26.2 billion.
Third, the sales exchange rate has declined, and the willingness of enterprises to raise domestic and cross-border foreign exchange financing is generally stable.
In the first three quarters, the selling exchange rate, which measures the willingness to purchase foreign exchange, was 64% of the customer's purchase of foreign exchange from the bank to the customer's foreign exchange expenditure, a year-on-year decrease of 2.8 percentage points.
As of the end of September 2020, the balance of domestic foreign exchange loans of Chinese banks increased by US$47.5 billion from the end of 2019, indicating an overall increase in the relevant foreign exchange financing needs of enterprises; at the end of September, the balance of foreign currency financing for cross-border trade such as overseas payment and forward letter of credit It was basically the same as at the end of 2019, while imports fell by 3% over the same period, indicating that companies' willingness to raise cross-border foreign exchange financing remained relatively stable.
Fourth, the exchange rate is generally stable, and the willingness of market players to hold foreign exchange is rational.
In the first three quarters, the exchange rate used to measure the willingness to settle foreign exchange, that is, the ratio of the customer's foreign exchange sales to the bank to the customer's foreign exchange income was 65%, which was basically the same as the same period last year.
As of the end of September 2020, the balance of domestic foreign exchange deposits of enterprises, individuals and other entities increased by US$35.4 billion from the end of the previous year, mainly due to the growth in the third quarter. With the appreciation of the renminbi, it reflects the positive results of market countercyclical adjustments.
Fifth, the scale of foreign exchange reserves rose steadily.
As of the end of September 2020, the balance of foreign exchange reserves was 3142.6 billion US dollars, an increase of 34.6 billion US dollars over the end of 2019.
In general, the domestic foreign exchange market maintained a basic balance of supply and demand in the first three quarters, and changes in foreign exchange reserves were mainly affected by factors such as exchange rate translation and asset price changes.