前三季度我国涉外收支总规模创历史同期新高 10月以来跨境资金已转为净流入

Core Insights - The State Administration of Foreign Exchange reported that in September 2025, banks settled $264.7 billion and sold $213.6 billion in foreign exchange, with total foreign-related income at $681.2 billion and payments at $684.3 billion [1][2] - For the first nine months of the year, banks accumulated a total of $1.8533 trillion in settlements and $1.7901 trillion in sales, with foreign-related income reaching $5.8705 trillion and payments at $5.7508 trillion [1] - The total scale of foreign-related income and expenditure in China for the first three quarters reached a historical high of $11.6 trillion, with a net inflow of $119.7 billion and a surplus of $63.2 billion in bank settlements and sales, both exceeding the previous year's levels [1] Group 1 - In September, the foreign exchange market in China showed stable operation with two main characteristics: active and balanced cross-border capital flows, and a relatively balanced supply and demand in the foreign exchange market [1][2] - Cross-border income and expenditure from non-bank sectors totaled $1.37 trillion in September, reflecting a 7% month-on-month increase, indicating robust development in China's foreign-related economy [1] - The net outflow of cross-border funds in September was $3.1 billion, which has since turned into a net inflow in October [1] Group 2 - In September, banks experienced a significant increase in both foreign exchange settlements and sales, with a surplus of $51 billion, indicating flexible foreign exchange trading by enterprises based on their needs [2] - The foreign exchange market supply and demand have remained basically balanced, with banks' settlements and sales being roughly equal since October [2] - Overall, despite a complex external environment, China's foreign exchange market has shown resilience and vitality, maintaining stable expectations and balanced supply and demand [2]