China News Service, January 18. According to news from the website of the State Administration of Foreign Exchange on the 18th, Wang Chunying, deputy director and spokesperson of the State Administration of Foreign Exchange, answered questions from reporters on the situation of foreign exchange receipts and payments in 2022.

Regarding the current situation of my country's foreign exchange receipts and payments, what are the outstanding features and new changes, Wang Chunying said that the two-way floating of the RMB exchange rate has increased flexibility, and it has remained basically stable at a reasonable and balanced level.

my country's cross-border capital flows are generally balanced throughout the year, and the main features are as follows:

　　First, the bank's foreign exchange settlement and sales and foreign-related receipts and payments were in surplus throughout the year, and the supply and demand in the foreign exchange market remained basically balanced.

In 2022, the surpluses in foreign exchange settlement and sale by banks and foreign-related receipts and payments by banks on behalf of customers will be US$107.3 billion and US$76.3 billion, respectively.

Recently, driven by both internal and external factors, my country's foreign exchange market has become more stable. In December, bank foreign exchange settlement and sales and foreign-related receipts and payments were in surplus, reaching US$7 billion and US$23.1 billion respectively.

Considering other supply and demand factors comprehensively, the overall supply and demand of my country's foreign exchange market will maintain a basic balance in 2022.

　　Second, the foreign exchange market is expected to be generally stable, and market transactions are rational and orderly.

Under the complex and changeable internal and external environment, the fluctuation range of relevant indicators reflecting RMB exchange rate expectations in the forward and options markets is controllable, and there is no sustained strong unilateral trend, indicating that the exchange rate expectations of market players remain generally stable, and market players close sales Remittance and foreign-related receipts and payments are rational and orderly.

The willingness of market participants to settle foreign exchange was basically stable, and the rational trading mode of "settling foreign exchange at high prices" was generally maintained.

In 2022, the settlement rate (that is, the ratio of foreign exchange sold by customers to banks to the foreign exchange income of customers related to foreign exchange) will be 67%, an increase of 1 percentage point compared with 2021.

Enterprises actively use their own foreign exchange for external payments, and their willingness to hold foreign exchange is relatively stable.

At the end of November 2022, the balance of domestic foreign exchange deposits of market entities such as enterprises and individuals was US$639.6 billion, a decrease of US$56.2 billion from the end of 2021.

　　Third, capital inflows such as trade in goods and foreign direct investment have played a leading role in stabilizing cross-border capital flows.

In 2022, the net inflow of cross-border funds for my country's trade in goods will hit a record high, an increase of 45% compared with 2021, reflecting the development resilience of my country's foreign trade.

The net inflow of funds under the foreign direct investment capital item has remained relatively high, significantly higher than the level in 2019 before the epidemic; in addition, according to statistics from the Ministry of Commerce, my country's actual use of foreign capital from January to November was 178.1 billion US dollars, a year-on-year increase of 12%, indicating that my country's economic Development prospects and a huge consumer market are still relatively attractive to foreign capital.

　　Fourth, foreign investors have recently continued to resume investment in my country's securities market.

According to the statistics of the State Administration of Foreign Exchange, in December 2022, the net increase in domestic bond and stock holdings by foreign investors was US$7.3 billion and US$8.4 billion, respectively.

Judging from the latest market data, foreign capital participation in the domestic securities market has remained active recently. In the first half of January 2023, the net purchase of domestic stocks and bonds totaled approximately US$12.6 billion.

(China New Finance and Economics)

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