The toughness of my foreign exchange market is significantly enhanced

[Report from the press conference from the National New Office]

Since the beginning of this year, my country's efficient overall pre -epidemic prevention and control and economic and social development. Recently, the main macroeconomic indicators have stabilized and rebounded, and the overall economic development has resumed development. In this context, my country's foreign exchange market has increased toughness, the performance of the RMB exchange rate is relatively stable, and the flow of cross -border funds is generally stable. At the press conference of the National New Affairs Office held on July 22, Wang Chunying, deputy director and spokesman of the State Administration of Foreign Exchange, detailed the situation of foreign exchange income and expenditure data in the first half of the year.

Wang Chunying introduced that in the first half of this year, my country's foreign exchange revenue and expenditure status showed five main features: First, banks' foreign exchange sales and cross -border revenue and expenditure continued surplus pattern. The second is that the exchange rate has risen slightly, and corporate cross -border financing has remained stable. Third, the exchange rate of exchange settlements has risen steadily, and the balance of foreign exchange deposits in enterprises is basically stable. Fourth, the scale of foreign exchange derivatives has remained increased, and the awareness of market subject exchange rate risk management has steadily increased. Fifth, the scale of foreign exchange reserves is basically stable.

Data show that in the first half of this year, banks' sales and foreign -related income and expenditure all showed a surplus of more than 80 billion US dollars. The basic surplus of cargo trade and direct investment maintained a high scale, and corporate cross -border financing remained stable. At the end of June, the scale of foreign exchange reserves in my country was $ 3071.3 billion.

Wang Chunying said that since the beginning of this year, affected by the multiple factors such as the Fed's interest rate hike and geopolitical conflict, the main line of changes in the international foreign exchange market is strong in the US dollar, which is mainly non -US currency weakened. In this context, the exchange rate of the RMB to the US dollar has depreciated, but compared with major international currencies, the stability of the RMB value is relatively strong. As of July 21, the US dollar index has risen more than 11%since this year. The depreciation of the euro, the pound and the yen against the US dollar is between 10%and 17%, and the RMB depreciates 5.8%against the US dollar. From the perspective of multilateral exchange rates, the appreciation of the RMB exchange rate index is 0.1%, indicating that RMB has kept a basket of currencies basically stable. It is expected that in the second half of the year, the RMB exchange rate will remain basically stable at a reasonable and balanced level.

In the first half of the year, my country's cross -border capital flow was generally stable, showing a relatively balanced development trend, reflecting the stability of my country's international revenue and expenditure structure. Frequent account surplus and long -term capital inflows are still the basic market for stabilizing my country's cross -border capital flow. Data show that in the first quarter of this year, my country's frequent account surplus was 88.9 billion US dollars, the highest in history, an increase of 25%over the same period last year. Direct investment and medium- and long -term asset allocation funds under capital are still playing the leading role.

According to Wang Chunying, from January to May this year, my country's actual use of foreign capital was 87.8 billion U.S. dollars, an increase of 23%year -on -year; the overseas central bank and the configuration funds that followed the international index performed relatively stable in my country's bond market, and they had short -term fluctuations in balanced cross -border capital fluctuations effect.

"The total scale of my country's bond market is US $ 2.1 trillion, and foreign investment accounts for about 3%of the Chinese bond market. The absorption of foreign capital in my country's bond market has great room for improvement. In the long run, foreign capital will still steadily increase holding RMB bonds. We I am confident. "Wang Chunying pointed out.

(Reporter Wen Yuan)

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