The State Administration of Foreign Exchange announced the data on foreign exchange settlement and sales by banks and foreign-related receipts and payments on behalf of customers in January 2022. Wang Chunying, deputy director of the State Administration of Foreign Exchange and spokesperson, pointed out that my country’s foreign exchange market maintained a stable operation in January, with rational and orderly transactions in the foreign exchange market, and cross-border two-way investment remained active.
Data show that in January 2022, banks settled 1,539.9 billion yuan in foreign exchange and sold 1,363.2 billion yuan in foreign exchange, with a surplus of 176.6 billion yuan ($27.8 billion) in foreign exchange settlement and sales. In January 2022, the foreign-related income of banks on behalf of customers was 3,725.1 billion yuan, and the external payment was 3,353.9 billion yuan, with a surplus of 371.2 billion yuan (58.4 billion U.S. dollars) in foreign-related receipts and payments.
Wang Chunying pointed out that in January, my country’s foreign exchange market maintained a stable operation, with a surplus of US$27.8 billion in foreign exchange settlement and sales by banks. Considering other supply and demand factors such as forward foreign exchange settlement and sales, option transactions, the domestic foreign exchange supply and demand were basically balanced. The non-banking sector recorded a surplus of US$58.4 billion in foreign-related receipts and payments, nearly 90% of which came from trade in goods, reflecting the increase in the import and export surplus in recent months and the impact of factors such as the concentrated collection of payments by enterprises before the Spring Festival.
Wang Chunying said that in January, the settlement exchange rate (the ratio of foreign exchange sales by customers to the bank and the foreign exchange income of customers) and the exchange rate of sales (the ratio of foreign exchange purchased by customers from the bank to the foreign exchange expenditure of customers) were 67% and 62%, respectively, year-on-year. It rose slightly by 2.4 and 0.2 percentage points, which was basically the same as the monthly average in 2021, indicating that the willingness of market players to settle and purchase foreign exchange remained stable.
Wang Chunying introduced that in January, the net inflow of cross-border funds under direct investment was US$11.4 billion, a year-on-year increase of 9%. Among them, foreign direct investment in China and my country’s foreign direct investment both showed a year-on-year growth trend. The scale of cross-border capital inflows and outflows under securities investment is basically the same as the monthly average in 2021, and the overall pattern of net inflows continued.
Editor: Huang Angjin
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