China’s State Administration of Foreign Exchange (SAFE) released January statistics, including the surplus of Foreign exchange settlement and sales by banks. The statistics show that the foreign exchange market of China was generally steady in January.
As shown in the statistics of SAFE, in January 2021, the amount of foreign exchange settlement and sales by banks had a surplus of USD 40.8 billion, and the surplus of cross-border receipts and payments by non-banking sectors was USD 48.8 billion.
The country's forex market was generally stable last month, said Wang Chunying, deputy director and spokesperson of SAFE, noting that sustained and steady domestic economic recovery and the two-way opening-up of the financial market have led to more active cross-border capital flows.
Looking ahead, China's forex market is expected to maintain steady operations, as the foundation for the country's sustained and healthy economic development remains unchanged despite a complex external environment and uncertainties in global economic recovery, said Wang.
