State Administration of Foreign Exchange: In January, the supply and demand of foreign exchange in our country maintained a basic balance

The latest data from the State Administration of Foreign Exchange shows that in January, our country's banks had a surplus of 16.90 billion yuan in foreign exchange settlement and sales, and banks had a surplus of 238.80 billion yuan in foreign-related receipts and payments. Our country's cross-border capital flows are stable, and domestic foreign exchange supply and demand remain basically balanced.

Wang Chunying, deputy director and spokesperson of the State Administration of Foreign Exchange, said: In January, the foreign-related revenue and expenditure surplus of enterprises, individuals and other non-bank sectors was 35.10 billion US dollars, an increase of 52% compared with the previous month; the bank's foreign exchange surplus was 2.50 billion US dollars, taking into account other supply and demand factorsforeign exchange marketThe supply and demand are basically balanced. Overall, the foreign exchange market is off to a good start in 2023, with stable expectations for market players and rational and orderly transactions of all kinds.

It is worth noting that the net inflow of cross-border funds such as trade in goods and foreign direct investment continued to play a fundamental role, and foreign investors' investment in domestic stocks hit a record high. In January, the surplus of foreign trade in goods was 38.70 billion US dollars, an increase of 9% month-on-month, at a historical high; the net inflow of foreign direct investment funds remained relatively stable. With our country optimizing epidemic prevention and control measures, the effects of various policies and measures to stabilize growth have gradually emerged, the economy has stabilized and rebounded and further consolidated. Foreign capital actively participated in the domestic stock market. Net purchases of domestic stocks in January were 27.70 billion US dollars, a record high in a single month.

Wang Chunying said that looking forward to the future, the long-term positive fundamentals of our country's economy will not change. The international monetary fund expects that China's economy will continue to be the main engine driving the global economy this year. The attractiveness of RMB assets will be further enhanced, and the foundation for stable cross-border capital flows will be more stable. At the same time, the monetary policy tightening of major developed economies and its spillover impact have eased. Overall, our country's foreign exchange market has a better foundation and conditions to continue to operate smoothly.