People’s Daily Online, Beijing, March 15 (Reporter Du Yanfei) The State Administration of Foreign Exchange announced on the 15th the data on bank foreign exchange settlement and sales and bank foreign-related receipts and payments on behalf of customers in February 2024. The data showed that in February 2024, my country’s foreign exchange market was operating stably. The situation is improving, and cross-border capital flows are becoming more stable.
Data show that in February 2024, banks settled US$154 billion in foreign exchange and sold US$152.3 billion; banks’ foreign-related income on behalf of customers was US$456.1 billion, and external payments were US$444 billion. From January to February 2024, the cumulative foreign exchange settlement by banks was US$358.2 billion, and the cumulative foreign exchange sales were US$366.4 billion; the cumulative foreign-related income of banks on behalf of customers was US$1,052.6 billion, and the cumulative external payments were US$1,035 billion.
Wang Chunying, deputy director and spokesperson of the State Administration of Foreign Exchange, said that in February, the cross-border receipts and payments of enterprises, individuals and other non-bank sectors had a surplus of US$12.1 billion, an increase of US$6.6 billion from the previous month; banks’ foreign exchange settlement and sales had a small surplus of US$1.7 billion, which was expected by the market. Maintain stability and keep foreign exchange transactions rational and orderly.
“Cross-border capital flows through major channels have been stable, and net capital inflows under trade in goods and securities investment have remained relatively high.” Wang Chunying said that in February, after excluding the impact of the Spring Festival holiday and other factors, the average daily net inflow of cross-border capital under trade in goods was The scale of inflows increased by 3% year-on-year, continuing to play a fundamental role in stabilizing cross-border capital flows. At the same time, foreign capital’s net increase in domestic bond holdings in February was US$11.1 billion, which continues to be at a high level; foreign investment in domestic stocks generally turned into a net increase in holdings, reflecting the steady increase in foreign capital’s willingness to allocate RMB assets.
Zhao Qingming, deputy director of the China Banking Management Research Institute, said in an interview with a reporter from People’s Daily Online that the continued net increase in foreign capital holdings of domestic bonds shows that international financial institutions are optimistic about the future returns of RMB bond assets. In the medium to long term, RMB internationalization is in an accelerated development stage, and foreign institutions will continue to increase their holdings of RMB assets in bond asset allocation.
Talking about the future trend of my country’s foreign exchange market, Wang Chunying said that with the support of economic fundamentals, policy, market and other favorable factors, my country’s foreign exchange market is expected to continue to operate smoothly in the future.
“In 2024, my country will intensify macroeconomic control and promote the realization of the expected goal of GDP growth of about 5%. The economic rebound will be further consolidated and strengthened.” Wang Chunying said that my country has steadily expanded institutional opening up and continuously optimized business operations. environment, cross-border trade and investment and financing facilitation levels will continue to improve.
Wang Chunying also said that with the deepening development of my country’s foreign exchange market, the level of enterprise exchange rate risk management has gradually improved, the proportion of RMB in cross-border use has further increased, and the participants in the foreign exchange market have become more mature and transactions have become more rational. In 2024, the monetary policies of major developed economies are expected to shift, and the tension in external liquidity will tend to ease, which will also be conducive to the stability of my country’s foreign exchange market.
“With the diversified development of my country’s foreign trade and the continuous optimization of the export structure, the resilience of my country’s foreign trade continues to increase, and trade in goods continues to play a fundamental role in stabilizing cross-border capital flows. my country’s economic rebound is solid and the trend of improvement is stable, and the risk-aversion and RMB assets are The value of investment continues to emerge, and the willingness of foreign investors to invest in the Chinese market and allocate RMB assets has also steadily increased.” Wen Bin, chief economist of China Minsheng Bank, told People’s Daily that these factors are conducive to the smooth operation of my country’s foreign exchange market and the maintenance of a basic balance of international payments.
Experts believe that as the effects of various macro policies continue to be released, the domestic economy will continue to rebound and improve. my country’s advantages in ultra-large-scale markets and complete industrial systems continue to exist, and high-level institutional opening-up is advancing in an orderly manner, which will continue to attract international capital to invest in the domestic market and allocate RMB assets. In recent years, the flexibility of the RMB exchange rate has increased, and the awareness of exchange rate risk neutrality among enterprises and other entities has increased. This will continue to play a role in mitigating the risk of external shocks and help my country’s foreign exchange market maintain smooth operation.
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责编：宫辞 ]
2024-03-16 05:14:00
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