2025年企业外汇套期保值比率升至30% 为历史新高

Core Insights - By 2025, the foreign exchange market transaction volume is projected to reach $42.6 trillion, with corporate foreign exchange hedging ratios increasing to 30% [1] - As of September, China's foreign assets and liabilities have reached historical highs of $11.5 trillion and $7.5 trillion, respectively [1] - The State Administration of Foreign Exchange (SAFE) emphasizes the importance of balancing domestic and international needs while enhancing the effectiveness of foreign exchange management to support the real economy [1] Foreign Exchange Management - SAFE has introduced a comprehensive package of 28 measures to support stable foreign trade development, deepen cross-border investment and financing reforms, and aid the construction of free trade pilot zones [3] - Since the implementation of these policies in the fourth quarter of last year, over $220 billion in related facilitation services have been processed nationwide [3] - The support for cross-border e-commerce has enabled over 10 billion online foreign exchange transactions, benefiting more than 1.8 million small and micro enterprises [3] - The number of banks participating in foreign exchange business reforms has expanded from 16 at the end of 2024 to 30, covering major banks involved in cross-border transactions [3] - In 2025, cross-border payment transactions under the "免审单" (exemption from review) policy are expected to reach $2.3 trillion, a 33% increase from 2024 [3] Foreign Exchange Market Overview - Total cross-border income and expenditure for enterprises and individuals is projected to reach $15.6 trillion in 2025, reflecting a nearly 10% increase from 2024 [4] - The net outflow of cross-border funds has reversed to a net inflow of $302.1 billion, with a bank settlement surplus of $196.6 billion [4] - Direct investment in China is showing a net inflow, while domestic entities are increasing their foreign investments [4] - The stability of foreign exchange reserves is maintained, with the RMB exchange rate remaining stable at a reasonable and balanced level [5] Future Outlook - SAFE plans to deepen and expand reforms in the foreign exchange sector, aiming to create a policy environment that is both flexible and well-regulated [5]