7月结售汇延续顺差态势跨境资金流动总体稳定

Core Insights - The foreign exchange market in China showed stable expectations and orderly transactions in July 2025, with non-bank sector cross-border receipts at historical highs [1][2] - The net inflow of funds from goods trade increased by 33% month-on-month, maintaining a high operational level [1][2] Group 1: Bank Settlement and Foreign Exchange - In July, banks settled foreign exchange with a total of 233.6 billion USD and sold 210.8 billion USD, representing month-on-month increases of 12% and 16% respectively [1] - The exchange settlement rate for enterprises and individuals slightly increased, while the selling rate remained stable, indicating stable market expectations and active trading [1] Group 2: Cross-Border Fund Flows - In July, the scale of bank customer foreign-related receipts reached 690.4 billion USD, with payments of 698.1 billion USD, resulting in a slight deficit of 7.7 billion USD, reflecting a balanced cross-border fund flow [2] - Cumulative surplus for the first seven months was 119.5 billion USD, indicating a continued net inflow of cross-border funds [2] Group 3: Market Resilience and Economic Development - Despite increased volatility in the international foreign exchange market, the steady progress of high-quality economic development in China and the enhanced resilience of the foreign exchange market are expected to support stable market operations [2]