Core Insights - The press conference highlighted the achievements of China's financial sector during the "14th Five-Year Plan" period, emphasizing the stability and resilience of the foreign exchange market despite a complex external environment [1][2]. Group 1: Foreign Exchange Market Performance - The foreign exchange market in China has shown stable operation with enhanced vitality and resilience, characterized by robust cross-border capital flows and trade activities [2]. - In 2024, China's cross-border capital flows are projected to reach $14 trillion, a 64% increase from 2020, with an average annual growth rate during the "14th Five-Year Plan" period being 8 percentage points higher than the previous five-year period [2]. - The trading volume in the foreign exchange market is expected to reach $41 trillion in 2024, reflecting a 37% increase from 2020, with both spot and derivative transactions growing simultaneously [2]. Group 2: Market Structure and Participation - As of June 2023, 703 banks and 115 non-bank institutions are participating in the interbank foreign exchange market, including 296 foreign institutions, indicating a broadening of market participation [3]. - The infrastructure for trading, clearing, and payment has been continuously improved, effectively reducing transaction costs and settlement risks, thereby better serving the real economy [3]. Group 3: Market Stability and Future Outlook - The foreign exchange market has demonstrated rational and orderly trading, with the dual floating and increased elasticity of the RMB exchange rate acting as stabilizers for the macro economy and international balance of payments [3]. - The ratio of enterprises using foreign exchange hedging has increased from 17% in 2020 to approximately 30%, while the RMB's share in cross-border trade has risen from 16% to nearly 30%, indicating enhanced market resilience [3]. - Looking ahead, the long-term positive fundamentals of the Chinese economy and steady high-level opening-up are expected to support a stable international balance of payments, providing a solid foundation for the healthy development of the foreign exchange market during the "15th Five-Year Plan" [3].

Group 1 - The core viewpoint is that China's foreign exchange reserves have remained stable above $3 trillion since the 14th Five-Year Plan, with a current level exceeding $3.2 trillion, serving as a crucial stabilizer for the economy and finance [1] - The cross-border receipts and payments reflect the vibrancy of China's foreign economic activities, with a projected scale of $14 trillion in 2024, representing a 64% increase from 2020, and an average annual growth rate 8 percentage points higher than during the 13th Five-Year Plan [1] - The foreign exchange market has expanded significantly, with a trading volume of $41 trillion expected in 2024, a 37% increase from 2020, and participation from 703 banks and 115 non-bank institutions as of June this year [1] Group 2 - The focus of China's foreign exchange work includes enhancing the efficiency of trade foreign exchange receipts and payments, facilitating cross-border investment and financing, and improving banks' foreign exchange service capabilities [2] - The next steps involve creating a market-oriented, legal, and international foreign exchange business environment while balancing financial openness and security to support the establishment of a higher-level open economic system [2]

Core Viewpoint - The People's Bank of China (PBOC) emphasizes the importance of maintaining stability in financial markets during the 14th Five-Year Plan period, highlighting the resilience of the foreign exchange, bond, and capital markets [1] Foreign Exchange Market - The PBOC asserts that the market plays a decisive role in the formation of exchange rates, maintaining the basic stability of the RMB despite a volatile external environment [1] - The maturity of market participants and the widespread use of exchange rate hedging tools contribute to the resilience of the foreign exchange market [1] Bond Market - The PBOC monitors and evaluates the bond market from a macro-prudential perspective, enhancing regulatory coordination and timely risk alerts to market participants [1] - The bond default rate remains low, indicating overall stability in market operations [1] Capital Market - The PBOC is exploring monetary policy tools to maintain stability in the capital market, collaborating with the China Securities Regulatory Commission (CSRC) to create swap facilities and stock repurchase lending tools [1] - Support for the Central Huijin Investment Ltd. to act as a "stabilization fund" is emphasized, aiming to continuously improve the long-term support mechanisms for the capital market [1]

钛媒体App 9月22日消息，中国人民银行副行长、国家外汇局局长朱鹤新在国新办新闻发布会上表 示，"十四五"以来，外汇市场交易理性有序，稳健性增强，人民币汇率上下浮动弹性增强，发挥了宏观 经济和国际收支自动稳定器的功能。企业外汇套期保值的比例已经由2020年的17%已经上升到30%左 右，人民币在跨境贸易中的使用占比由16%上升到近30%，外汇市场韧性进一步增强。（中国网） ...

责任编辑：江钰涵 9月22日，在介绍"十四五"时期金融业发展成就时，中国人民银行副行长、国家外汇局局长朱鹤新在国 新办新闻发布会上表示，"十四五"以来，外汇市场交易理性有序，稳健性增强，人民币汇率上下浮动弹 性增强，发挥了宏观经济和国际收支自动稳定器的功能。企业外汇套期保值的比例已经由2020年的17% 已经上升到30%左右，人民币在跨境贸易中的使用占比由16%上升到近30%，外汇市场韧性进一步增 强。 ...

Group 1: Federal Reserve and Legal Dispute - President Trump is escalating the legal battle to dismiss Federal Reserve Governor Cook to the Supreme Court, seeking to overturn a lower court's ruling that blocked his dismissal decision [2] - Cook's legal team argues that her immediate removal would disrupt financial markets and undermine the independence of the Federal Reserve [2] - This case marks the first instance in the 111-year history of the Federal Reserve involving a "for cause" dismissal of a governor [2] Group 2: Market Reactions and Implications - The legal actions come just after the Federal Reserve announced a 25 basis point interest rate cut, with Cook voting in favor of the cut [2] - If Trump successfully dismisses Cook and appoints a successor, he would control four out of seven seats on the Federal Reserve Board, significantly influencing monetary policy [2] - Markets are closely monitoring the Supreme Court's actions, as Cook's sudden dismissal could lead to increased volatility in the dollar, U.S. Treasury bonds, and stock markets [2] Group 3: Corporate Announcements and Financial Updates - Hong Kong-based Hongyang Real Estate announced an extension of the restructuring support agreement fee deadline to October 3, 2025, due to creditors needing more time [3] - Huaxia Holdings reported a total of 28.02 billion yuan in overdue debts as of July 31, 2025, with a significant portion attributed to its subsidiary Huaxia Happiness [3] - Prologis is reportedly seeking to list its China operations next year, indicating potential growth and investment opportunities in the logistics sector [3] Group 4: Market Movements and Bond Issuance - The Shenzhen government plans to issue a series of RMB senior bonds, reflecting ongoing efforts to raise capital in the market [4] - As of September 18, the yield on China's two-year government bonds was 1.48%, while the ten-year yield was 1.85%, indicating the current state of the bond market [6] - The U.S. two-year Treasury yield rose by 5 basis points to 3.57%, and the ten-year yield also increased by 5 basis points to 4.11%, showing trends in U.S. interest rates [6] Group 5: Ratings Updates - Zhongcheng Automobile Insurance Co., Ltd. had its financial strength rating upgraded from "BBB" to "BBB+" by Fitch Ratings, reflecting improved financial stability [5] - China Merchants Securities maintained its long-term foreign and local currency issuer ratings, indicating stable performance in the financial sector [5]

李斌表示，8月份我国外汇市场平稳运行。一是外汇市场交易保持活跃。8月份，企业、个人等非银 行部门跨境收支1.3万亿美元，同比增长8%。其中，经常项目和资本项目跨境收支均有所增长，跨境贸 易和投融资稳步发展。二是外汇市场供求总体平衡。8月份，跨境资金净流入32亿美元，银行结售汇顺 差146亿美元。分项目看，货物贸易资金净流入保持稳定，外资总体净买入境内股票和债券，服务贸易 和投资收益资金净流出由季节性高位回落。总的来看，当前我国外汇市场交易活跃，外汇供求基本平 衡，市场预期保持稳定。 责任编辑：杨喜亭 本报讯 记者马玲报道 日前，国家外汇管理局公布了2025年8月份银行结售汇和银行代客涉外收付款 数据。国家外汇管理局副局长、新闻发言人李斌就2025年8月份外汇市场形势回答了记者提问。 ...

（文章来源：人民日报） 本报北京9月21日电 （记者葛孟超）国家外汇管理局近日公布8月银行结售汇和银行代客涉外收付款数 据。数据显示，8月，银行结汇2118亿美元，售汇1971亿美元；银行代客涉外收入6383亿美元，对外付 款6350亿美元。 "8月我国外汇市场平稳运行。"国家外汇管理局副局长、新闻发言人李斌表示，一是外汇市场交易保持 活跃。8月，企业、个人等非银行部门跨境收支1.3万亿美元，同比增长8%。其中，经常项目和资本项 目跨境收支均有所增长，跨境贸易和投融资稳步发展。二是外汇市场供求总体平衡。8月，跨境资金净 流入32亿美元，银行结售汇顺差146亿美元。分项目看，货物贸易资金净流入保持稳定，外资总体净买 入境内股票和债券，服务贸易和投资收益资金净流出由季节性高位回落。 ...

Group 1 - The core viewpoint of the article highlights the stable operation of China's foreign exchange market in August 2025, with active trading and a basic balance in supply and demand [4] - In August 2025, banks settled 15,103 billion RMB and sold 14,058 billion RMB, while the cumulative settlement from January to August reached 113,938 billion RMB and cumulative sales were 113,078 billion RMB [1][2] - The non-bank sector's cross-border receipts and payments reached 1.3 trillion USD in August, reflecting an 8% year-on-year growth, indicating steady development in cross-border trade and investment activities [4] Group 2 - In August, banks recorded a net inflow of cross-border funds amounting to 3.2 billion USD, with a surplus of 14.6 billion USD in bank settlement and sales [4] - The net inflow from goods trade remained stable, while foreign investment in domestic stocks and bonds showed a net inflow, and service trade and investment income saw a decrease from seasonal highs [4]

"总的来看，当前我国外汇市场交易活跃，外汇供求基本平衡，市场预期保持稳定。"国家外汇管理局副 局长、新闻发言人李斌介绍，8月，我国外汇市场平稳运行，外汇市场交易保持活跃；企业、个人等非 银行部门跨境收支1.3万亿美元，同比增长8%。同时，外汇市场供求总体平衡。8月，跨境资金净流入 32亿美元，银行结售汇顺差146亿美元。 本报北京9月19日讯（记者勾明扬）国家外汇管理局19日公布统计数据显示，今年8月，银行结汇15103 亿元，售汇14058亿元；前8个月，银行累计结汇113938亿元，累计售汇113078亿元。今年8月，银行代 客涉外收入45515亿元，对外付款45284亿元；前8个月，银行代客累计涉外收入372219亿元，累计对外 付款363400亿元。 （文章来源：经济日报） ...