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 o

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.