Since July, despite a volatile external environment and rising geopolitical
uncertainty, China’s foreign-exchange market has remained stable, SAFE deputy
director Li Bin said. Non-bank cross-border receipts and payments totaled $1.7
trillion in July, up 20% YoY; FX market turnover was $4.3 trillion, up 8% YoY.
Non-bank sectors posted net cross-border inflows of $59.8 billion in July. Goods
trade drove high net inflows, while services and dividends repatriated by
foreign-invested firms were net outflows but remained steady. Banks recorded a
net FX sell surplus of $18.3 billion, and corporates conducted conversions based
on actual needs, leaving FX supply and demand broadly balanced.
