11月跨境收支保持活跃 证券投资资金流动更趋平稳

Core Viewpoint - The foreign exchange market in China remains stable, with a net inflow of cross-border funds amounting to 17.8 billion USD in November 2025, reflecting a balanced supply and demand situation in the market [1][2]. Group 1: Foreign Exchange Market Performance - In November, the bank's foreign exchange settlement and sales maintained stability, with a surplus of 15.7 billion USD, indicating a more balanced supply and demand in the foreign exchange market compared to the previous month [1]. - The overall foreign exchange market is characterized by steady trading and orderly operations, with the foreign trade and foreign investment showing resilience [1]. Group 2: Cross-Border Fund Flows - The total scale of cross-border receipts and payments for non-bank sectors, including enterprises and individuals, reached 1.3 trillion USD in November, reflecting an 8% month-on-month increase and maintaining a high level of activity [1][2]. - The surplus in cross-border receipts and payments for the month was 17.8 billion USD, continuing the trend of net inflows of cross-border funds [1]. Group 3: Main Channels of Cross-Border Fund Flows - Goods trade remains the primary channel for net inflows of funds, while service trade, investment income, and direct investment flows remain stable [2]. - Recent trends indicate that capital flows under securities investment have also become more stable [2].