China News Service, July 23. Wang Chunying, deputy director and spokesperson of the State Administration of Foreign Exchange, reported on my country’s foreign exchange receipts and expenditures in the first half of this year on the 23rd: Judging from the bank’s foreign exchange settlement and sales data, in the first half of this year, in the first half of this year, the bank settled 12101 in US dollars. In RMB, the foreign exchange settlement and sales of banks were 7.8 trillion yuan, the sales of 7.0 trillion yuan, and the surplus of foreign exchange settlement and sales was 876 billion yuan.
Data map: Bank staff are counting currency.
Photo by China News Agency reporter Zhang Yun
The State Council Information Office held a press conference on the 23rd to introduce data on foreign exchange receipts and payments in the first half of the year.
At the meeting, Wang Chunying pointed out that in the first half of 2021, the world is still facing the challenge of the new crown pneumonia epidemic, the world economy is recovering unevenly, and the international financial market is complex and changeable.
my country's economy has continued to recover steadily, showing a trend of steady strengthening and steady improvement.
my country’s foreign exchange market is generally operating steadily, the RMB exchange rate fluctuates in both directions, and remains basically stable at a reasonable and balanced level; foreign exchange receipts and payments transactions are more active, and the foreign exchange market is expected to be stable and orderly.
According to Wang Chunying, from the bank's foreign exchange settlement and sales data, in the first half of this year, in the first half of this year, bank settlements and sales amounted to US$1.210.1 billion and US$1,0745 billion, with a surplus of US$135.6 billion; in RMB terms, bank settlements were 7.8 trillion yuan. Foreign exchange sales were 7.0 trillion yuan, with a surplus of 876 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 2841.9 billion US dollars, foreign payments were 2652.9 billion US dollars, and the surplus of foreign-related receipts and payments was 189 billion US dollars; , Foreign payments were 17.2 trillion yuan, and foreign-related receipts and payments had a surplus of 1.2228 billion yuan.
Wang Chunying said that in the first half of 2021, my country's foreign exchange receipts and expenditures showed the following characteristics:
First, the bank's foreign exchange settlement and sales and cross-border revenue and expenditure are in a surplus.
In the first half of the year, banks had a surplus of US$135.6 billion in foreign exchange settlement and sales, and a surplus of US$189 billion in foreign-related receipts and payments on behalf of their clients. This was mainly due to the maintenance of a relatively high level of receipts and foreign exchange settlement under trade in goods, reflecting the steady improvement of the domestic economy and the resumption of work and production. Advance in an orderly manner.
Among them, in the second quarter, the foreign exchange settlement and sales of banks and the surplus of foreign-related income and expenditure on behalf of customers were 47 billion U.S. dollars and 67.7 billion U.S. dollars respectively.
Second, the sales exchange rate is generally stable, and cross-border financing by companies has increased steadily.
In the first half of the year, the sales 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. This ratio was slightly lower than the second half of 2020 by 0.7 percentage points and remained stable overall.
In terms of foreign exchange financing, as of the end of June this year, the balance of domestic foreign exchange loans of Chinese enterprises and other market entities increased by 37.7 billion U.S. dollars from the end of 2020, mainly due to the rapid increase in the first quarter and stability in the second quarter.
In the first half of the year, the balance of foreign currency financing for cross-border trade such as overseas payment and forward letter of credit increased by 32.2 billion US dollars, which is generally in line with the high level of foreign trade.
Third, the settlement exchange rate increased slightly with steady growth, and corporate foreign exchange deposits increased.
The exchange rate that measures 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 is 67%, which is a slight increase of 2.0 percentage points from the second half of 2020.
As of the end of June this year, the balance of domestic foreign exchange deposits of enterprises and other market entities has increased by US$65.8 billion from the end of 2020, mainly due to the increase in foreign exchange receipts from enterprises' trade in goods.
Fourth, the scale of foreign exchange derivatives transactions has grown, and corporate risk-neutral awareness has increased.
In the first half of 2021, the scale of enterprises using foreign exchange derivatives such as forwards and options to manage exchange rate risks increased by 94% year-on-year. This growth rate was 69% higher than the growth rate of bank foreign exchange settlement and sales during the same period. The insurance ratio rose to 22.8%.
The hedging ratio, which we have introduced to you before, is the ratio of the scale of derivatives transactions made on behalf of the bank to the scale of spot and derivatives transactions made on behalf of the bank, that is, the derivatives in all foreign exchange settlement and sale transactions on behalf of clients. The percentage.
This proportion has shown a relatively high growth, so we feel that companies have increased their awareness of exchange rate hedging, their ability to adapt to exchange rate fluctuations, and their risk-neutral business philosophy has improved.
Fifth, the scale of foreign exchange reserves is basically stable.
As of the end of June this year, the scale of my country's foreign exchange reserves was 3,214 billion U.S. dollars, which is basically the same as the end of last year.
The scale of foreign exchange reserves fluctuated in the first half of the year, mainly due to the combined factors of exchange rate translation and asset price changes.