PBOC Deputy Governor and SAFE head Zhu Hexin said at the 2026 Financial Street
Forum opening that enterprises and banks are increasingly the conduit between
domestic and international dual circulation. On flows, China’s balance of
payments is gradually forming an autonomous balance: current-account surpluses
are increasingly channeled into outbound investment and asset allocation by
corporations and banks. On stocks, the share of foreign financial assets held by
enterprises and banks rose from about 30% at end-2010 to nearly 70% at end-2025.
