In May 2026 SAFE reported non-bank cross-border net inflows of $62.5 bln, up 1%
MoM. Banks' FX settlement surplus was $35.8 bln, down 11% MoM. Goods trade
remained the main source of inflows while services trade stayed in deficit;
dividend outflows from foreign firms rose seasonally. Foreign investors were net
buyers of onshore stocks and bonds. Corporate FX settlement and purchase rates
were essentially unchanged MoM, indicating stable conversion and purchase intent
and that FX transactions were largely driven by real demand.
