2025年Q1跨境资本季度跟踪：货币黄金增长规模创2011年以来的历史记录

Group 1: Cross-Border Capital Flow - In Q1 2025, cross-border capital continued to show a net outflow of $316.7 billion, the highest level since Q1 2021[2] - Domestic capital outflow reached $481.1 billion, marking the highest level since Q1 2021[2] - Foreign capital inflow was $195.4 billion, while foreign capital outflow was $31.0 billion[2] Group 2: Domestic Investment Trends - Domestic securities investment outflow reached $164.5 billion, a record high since 2011[3] - Domestic direct investment outflow was $143.6 billion, the highest since Q1 2021[4] - The increase in domestic capital outflow was driven by investments in overseas stocks and funds through channels like "Hong Kong Stock Connect" and "mutual recognition of funds"[2] Group 3: Trade Credit and Gold Reserves - Trade credit net outflow was $44.2 billion, the highest since Q4 2015[5] - Monetary gold increased by $38.3 billion, setting a record since 2011, with the central bank accumulating a total of 1.126 million ounces of gold since 2022[6]