In July, the external environment was complex and volatile, with rising geopolitical uncertainty and continued fluctuations in international financial markets, according to a press conference on August 17 by Li Bin, Deputy Director of the State Administration of Foreign Exchange (SAFE).

China's foreign exchange market remained stable, with a steady expansion in the scale of cross-border receipts and payments. Market expectations were generally stable, and foreign exchange transactions were rational and orderly.

Regarding the scale of foreign-related transactions, cross-border receipts and payments by non-bank sectors, including enterprises and individuals, totaled $1.7 trillion in July, an increase of 20% year-on-year. The trading volume in the foreign exchange market was $4.3 trillion, up 8% year-on-year, both maintaining a relatively high level.

Cross-border capital flows saw a net inflow of $59.8 billion from non-bank sectors in July. Among these, net inflows from goods trade remained at a high level, while net outflows from services trade and dividend payments by foreign-funded enterprises remained stable.

Supply and demand in the foreign exchange market were basically balanced in July. Banks' net foreign exchange settlement surplus was $18.3 billion, as enterprises conducted settlement and sales transactions rationally based on actual needs and changing market conditions.

This article is sourced from the official website of the State Administration of Foreign Exchange. Edited by Feng Qiuyi.