Foreign Exchange Bureau: my country's foreign exchange market toughness enhanced cross -border capital flow is generally stable

Xinhua News Agency, Beijing, July 22 (Reporter Liu Kaixiong) "my country's foreign exchange market is tough, the RMB exchange rate performance is relatively stable, and the flow of cross -border funds is generally stable." Wang Chunying, deputy director of the State Administration of Foreign Exchange and spokesman, said on the 22nd.

Wang Chunying made the above statement at the press conference held by the National Office of the day.

From a data point of view, banks' foreign exchange and sales and cross -border income and expenditure continues to continue the surplus. In the first half of 2022, according to the US dollar, the bank's foreign exchange and sales surplus surplus was $ 85.2 billion, and the bank's foreign -related foreign receipt and payment surplus surplus was 83.4 billion US dollars. Wang Chunying said that in the first half of the year, banks' foreign exchange sales and foreign -related income and expenditure all showed a surplus, mainly because the basic surplus such as goods trade and direct investment maintained a high scale.

"Frequent account surplus and long -term capital inflows are still the basic disk to stabilize my country's cross -border capital flow." Wang Chunying said that the frequent account surplus in the first quarter of this year was 88.9 billion US dollars, the highest in history, an increase of 25%over the same period last year. "Preliminary judgments that often accounts will continue the layout of reasonable surplus."

Wang Chunying said that direct investment and medium- and long -term asset allocation funds under capital are still playing a leading role. From the perspective of the composition and holdings of overseas investors, the scale of Chinese bonds holds more than half of the size of Chinese bonds, and a large part of the remaining parts belong to the configuration funds that track the international index, and the stability is relatively high. "The overseas central bank and the configuration funds that track the international index are relatively stable in my country's bond market, and have the role of balanced cross -border capital fluctuations."

When talking about the RMB exchange rate, Wang Chunying said that since this year, due to the influence of the Federal Reserve's interest rate hikes and geopolitical conflicts, the main line of the international foreign exchange market is strong in the US dollar, which is mainly non -US currency weakened. 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.

For example, Wang Chunying said that as of July 21, the US dollar index had risen more than 11%since this year. The depreciation of the euro, pound and yen against the US dollar was between 10%and 17%, and the RMB depreciated 5.8%against the US dollar. "From the perspective of multilateral exchange rates, the RMB exchange rate index appreciates 0.1%, indicating that the renminbi has remained basically stable on a basket of currencies."

In order to help enterprises respond to exchange rate risks, the Foreign Exchange Bureau jointly handled multiple departments and commercial banks to guide enterprises to carry out foreign exchange sets to preserve value. According to Wang Chunying, in the first half of this year, enterprises used the risk of exchange rate risks of derivative products such as long -term and options, which exceeded 750 billion US dollars, an increase of 29%year -on -year. 26%, an increase of 4.1 percentage points from the level of last year. "This shows that the awareness of market entity exchange rate aversion is increasing, and the ability to adapt to the fluctuation of the RMB exchange rate is increasing."

[Editor in charge: Liu Yang]

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