Core Insights - The People's Bank of China and the State Administration of Foreign Exchange have emphasized the effective coordination of development and security in the foreign exchange sector since the start of the 14th Five-Year Plan, contributing significantly to the new development pattern [1][2] Group 1: International Balance of Payments - The international balance of payments has shown greater stability, with the current account surplus to GDP ratio remaining within a reasonable range [1] - Cross-border investment and financing have been active, with foreign institutions and individuals holding over 10 trillion yuan in domestic stocks, bonds, and deposits as of the end of July [1] Group 2: Foreign Exchange Reserves - Foreign exchange reserves have remained stable above 3 trillion USD since the beginning of the 14th Five-Year Plan, consistently exceeding 3.2 trillion USD in recent years [1] - The management of foreign exchange reserves has been focused on ensuring asset safety, liquidity, and value preservation, acting as a stabilizer for the national economy [1] Group 3: Cross-Border Financing Facilitation - The level of cross-border investment and financing facilitation has improved, with nearly 300 billion USD in related business processed since the start of the 14th Five-Year Plan [2] - New policies have been introduced to enhance cross-border financing for high-tech and specialized small and medium-sized enterprises, with over 16,000 companies assisted and more than 2.4 trillion USD in payments processed [2] Group 4: Future Outlook - Looking ahead to the 15th Five-Year Plan, the foreign exchange administration aims to establish a more convenient, open, secure, and intelligent foreign exchange management system to contribute to China's modernization [2]
国家外汇局局长朱鹤新:跨境投融资便利化水平进一步提升
Zhong Guo Zheng Quan Bao·2025-09-23 00:05