Data on bank foreign exchange settlement and sales, as well as banks' foreign-related receipts and payments on behalf of clients for January 2026, were released on February 13 by the State Administration of Foreign Exchange. According to the figures, banks bought 2.0048 trillion yuan and sold 1.4457 trillion yuan in foreign currency during the month. In U.S. dollar terms, banks purchased $286.3 billion and sold $206.5 billion in foreign exchange in January 2026.

Banks' foreign-related receipts on behalf of clients reached 5.4722 trillion yuan in January, while payments amounted to 4.8974 trillion yuan. Valued in U.S. dollars, banks' foreign-related income was $781.6 billion, with outward payments totaling $699.5 billion.

Commenting on the performance of China's foreign exchange market in January, a spokesperson for the State Administration of Foreign Exchange noted that despite increased volatility and divergence in global financial markets since the start of the year, China's foreign exchange market continued to operate steadily. Cross-border capital maintained a net inflow, though the scale moderated compared to December of the previous year. In January, the surplus in bank foreign exchange settlement and sales, as well as net cross-border capital inflows from non-banking sectors including enterprises and individuals, declined by 20% and 28%, respectively, from December levels.

Factors such as seasonal patterns contributed to a rapid increase in corporate receipts and foreign exchange settlements around the year-end period. As these demands were gradually met, the growth in corporate receipts and settlements slowed in recent months. By major channels, net inflows under trade in goods fell 27% in January compared to December, while net outflows under trade in services rose 23%. Net inflows under securities investment remained stable.

Overall, China's foreign exchange market demonstrated active trading and stable expectations, with cross-border capital flows becoming more balanced.