China News Service, Beijing, December 18 (Reporter Xia Bin) The State Administration of Foreign Exchange (hereinafter referred to as the "Foreign Exchange Administration") released data on the 18th, showing that in November this year, banks settled 1,163.6 billion yuan (RMB, the same below), and sold foreign exchange 1,1433.9 billion yuan, a surplus of 19.7 billion yuan (equivalent to 3 billion US dollars) in foreign exchange settlement and sales.
From January to November this year, banks have settled a total of 12,441.1 billion yuan in foreign exchange, sold a total of 11,798.5 billion yuan, and accumulated a surplus of 642.5 billion yuan (equivalent to US$92.1 billion).
Wang Chunying, deputy director of the Foreign Exchange Administration and spokesperson, told reporters that China's foreign exchange market was operating steadily in November, and cross-border revenue and expenditure transactions tended to balance autonomously.
In terms of the performance of the main indicators, banks have a surplus of US$3 billion in foreign exchange settlement and sales, and a surplus of US$400 million in cross-border payments in non-banking sectors, showing that the current foreign exchange market transactions are rational and orderly, and cross-border capital flows are generally balanced.
At the end of November, the balance of foreign exchange reserves was 3,178.5 billion US dollars, and the scale remained basically stable.
At the same time, the willingness of market entities to settle and sell foreign exchange was generally stable.
In November, the settlement exchange rate, which measures the willingness of enterprises to settle foreign exchange, was 63%, which was basically the same as the same period last year; the sales exchange rate, which measured the willingness to purchase foreign exchange, was 65%, a slight decrease of 1% year-on-year.
Wang Chunying also stated that cross-border capital flows through major channels have increased, decreased, and divided reasonably.
In November, driven by the growth of customs import and export surplus, the surplus in foreign exchange settlement and sales of goods trade increased by USD 5.5 billion year-on-year; the deficit in foreign exchange settlement and sales of service trade narrowed by USD 5.6 billion year-on-year, continuing to remain low; cross-border two-way direct investment remained active and capital The net inflow was basically the same as the same period last year; the two-way investment under stocks was basically stable, with foreign investors buying 57.9 billion yuan in A shares through the “Land-Stock Connect” channel and 60.1 billion yuan in H-shares by residents of the “Southbound Trading” channel.
Wang Chunying said that at present, the foreign exchange market is operating smoothly and orderly, and cross-border capital flows are balanced in both directions. However, there are still many uncertainties in the development of the new crown pneumonia epidemic and the external environment. Financial institutions and enterprises must establish a "risk neutral" awareness and manage their operations well. risk.
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