Summary
[Foreign Exchange Administration: The Fed’s policy adjustments have a controllable impact on my country’s cross-border capital flows]According to data recently released by the State Administration of Foreign Exchange, in the first half of this year, my country’s banks saw surpluses in foreign exchange settlement and sales and cross-border revenue and expenditure. In U.S. dollars, banks settled US$1,2101 billion, sold US$1,0745 billion, and had a surplus of US$135.6 billion. Banks’ foreign-related revenue was US$2841.9 billion, foreign payments were US$2652.9 billion, and foreign-related receipts and payments had a surplus of US$189 billion. Wang Chunying, deputy director and spokesperson of the State Administration of Foreign Exchange, stated at the press conference of the State Administration of Foreign Exchange that the impact of future Fed policy adjustments on China’s cross-border capital flows is generally controllable. (Economic Information Daily)
According to data recently released by the State Administration of Foreign Exchange, in the first half of this year, my countryBankForeign exchange settlement and sales and cross-border revenue and expenditure showed a surplus. Priced in U.S. dollars,BankForeign exchange settlement was US$1,2101 billion, foreign exchange sales were US$1,0745 billion, and a surplus of foreign exchange settlement and sales was US$135.6 billion;BankForeign-related revenue on behalf of clients was 2841.9 billion US dollars, foreign payments were 2652.9 billion US dollars, and foreign-related receipts and payments had a surplus of 189 billion US dollars.Wang Chunying, deputy director and spokesperson of the State Administration of Foreign Exchange, stated at the press conference of the State Administration of Foreign Exchange that the futureMidlandThe impact of the adjustment of the reserve policy on China’s cross-border capital flows is generally controllable.
Wang Chunying said that in the first half of the year, banks had a surplus of US$135.6 billion in foreign exchange settlement and sales and a surplus of US$189 billion in foreign-related receipts and payments on behalf of customers. The resumption of work and production proceeded in an orderly manner. Among them, in the second quarter, the foreign exchange settlement and sales of banks and the foreign-related income and expenditure surpluses of banks on behalf of customers were 47 billion U.S. dollars and 67.7 billion U.S. dollars respectively.
In addition, the sales exchange rate was generally stable, and cross-border financing of enterprises increased steadily; the settlement exchange rate increased slightly, and the foreign exchange deposits of enterprises increased; the scale of foreign exchange derivatives transactions increased, and corporate risk-neutral awareness increased.As of the end of June this year, our countryforeign exchange reservesThe scale amounts to 3,214 billion US dollars, which is basically the same as at the end of last year.
Wang Chunying said,MidlandStorecurrencyPolicy adjustments will indeed have more impacts on cross-border capital flows in external economies, especially emerging economies, but they will have different impacts on different economies. She said that from the three perspectives of the real economy, financial market and international balance of payments, China’s advantages in dealing with external changes are quite obvious. At the level of the real economy, China’s economic recovery has obvious advantages, and the epidemic prevention and control situation is generally stable; at the financial market level, RMB assets are relatively cost-effective, and global asset allocation needs are higher than other emerging economies; at the level of international payments, China often The account maintains a long-term surplus. From this perspective, the demand for external financing is relatively low. “futureMidlandIt should be said that the impact of the adjustment of the reserve policy on China’s cross-border capital flows is still generally controllable. “she says.
(Source: Economic Information Daily)
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