Chinanews.com, November 19, according to the website of the State Administration of Foreign Exchange, the State Administration of Foreign Exchange has recently announced the data on bank foreign exchange settlement and sales and the bank's foreign-related receipts and payments on behalf of clients in October 2021.
When answering questions from reporters on the situation of foreign exchange receipts and payments in October 2021, deputy director and spokesperson of the State Administration of Foreign Exchange, Wang Chunying said that my country's foreign exchange market continued to operate smoothly in October.
Data map: Bank staff count currency.
Photo by China News Agency reporter Zhang Yun
Wang Chunying stated that my country's foreign exchange market continued to operate smoothly in October.
Judging from the performance of the main indicators, firstly, banks had a surplus of US$16.5 billion in foreign exchange settlement and sales, which was comparable to the monthly average in the third quarter.
The second is the non-bank sector’s foreign-related income and expenditure surplus of US$34.8 billion, an increase from September’s surplus, which was mainly affected by the National Day holiday, and some business transactions were carried out after the holiday.
From September to October, the average monthly surplus of foreign-related income and expenditure of the non-banking sector was comparable to the monthly average since the second quarter, and the overall cross-border capital flow remained basically stable.
Third, as of the end of October, the balance of foreign exchange reserves was 3,217.6 billion U.S. dollars, an increase of 0.5% from the end of September, mainly affected by factors such as exchange rate translation and global asset price fluctuations.
The foreign exchange market is expected to be generally stable.
From the perspective of the relevant indicators of the foreign exchange market, the market participants' exchange rate expectations are generally stable, and the rational trading model of "settlement of foreign exchange at highs and purchases of foreign exchange at lows" is maintained.
Excluding the National Day holiday factor, the average monthly settlement exchange rate (the ratio of the customer's foreign exchange sales to the bank to the customer's foreign exchange income) from September to October was 64%, which was 3 percentage points lower than the average monthly level in the third quarter, indicating the willingness of market entities to settle foreign exchange The average monthly sales exchange rate from September to October (the ratio of customers' foreign exchange purchases from banks to customers' foreign exchange expenditures) was 62%, a decrease of 1 percentage point from the average monthly level in the third quarter, indicating the willingness of market entities to purchase foreign exchange keep stable.
Cross-border capital flows through major channels are reasonable and orderly.
In October, cross-border capital related to the real economy, such as trade in goods and direct investment, maintained a certain scale of net inflows, reflecting the supporting role of the stable recovery of the domestic economy. The monthly average level is comparable.
In addition, cross-border study abroad expenditures and direct investment profit remittances have fallen from seasonal peaks and stabilized.
Wang Chunying pointed out that at present, the new crown pneumonia epidemic is still spreading globally, the world economic recovery is uncertain, some developed economies are gradually withdrawing from the quantitative easing monetary policy, and the external environment is becoming more complicated and severe.
However, my country's economy has maintained a stable recovery, development resilience continues to show, and the international balance of payments continues to maintain a basic balance pattern, which will continue to provide support for the smooth operation of the foreign exchange market.