外汇局：9月货物贸易项下资金净流入保持高位，服务贸易、投资收益等项下跨境资金流动较为平稳

Core Insights - The foreign exchange market in China showed stable operation in September 2025, characterized by active and balanced cross-border capital flows and a relatively balanced supply and demand in the forex market [1][2] Group 1: Cross-Border Capital Flows - In September, the total cross-border income and expenditure for non-bank sectors reached 1.37 trillion USD, reflecting a month-on-month increase of 7% [1] - Both current and capital account cross-border receipts and payments continued to grow, indicating robust development in China's foreign-related economy [1] - There was a slight net outflow of 3.1 billion USD in September, which has since turned into a net inflow in October [1] Group 2: Forex Market Supply and Demand - The bank's customer settlement and sales of foreign exchange saw a significant month-on-month increase, with a settlement surplus of 51 billion USD in September [1] - The net settlement was higher in the first half of September, while the latter half showed a trend towards balance in settlement differences [1] - Since October, the bank's customer settlement and sales have been roughly equal, indicating a basic balance in the forex market supply and demand [1] Group 3: Overall Foreign Exchange Performance - In the first three quarters of the year, China's total foreign-related receipts and payments reached 11.6 trillion USD, marking a historical high for the same period [2] - The net inflow of cross-border capital was 119.7 billion USD, and the bank's settlement surplus was 63.2 billion USD, both exceeding the levels of the previous year [2] - Overall, the foreign exchange market has demonstrated strong resilience and vitality amid a complex external environment, with stable market expectations and balanced supply and demand [2]