12月19日，国家外汇管理局公布了2025年11月银行代客涉外收付款和结售汇数据。国家外汇管理局副局 长、新闻发言人李斌就2025年11月外汇市场形势回答了记者提问。 （来源：财闻） 11月以来，国际金融市场延续较高波动态势，美元指数总体走弱，主要非美货币表现偏强。我国外汇市 场继续保持平稳运行。 问：您如何评价11月以来我国外汇市场运行情况？ 答：11月以来，国际金融市场延续较高波动态势，美元指数总体走弱，主要非美货币表现偏强。我国外 汇市场继续保持平稳运行。一是外汇市场供求延续基本平衡。11月，银行结汇和售汇规模均保持稳定， 结售汇顺差157亿美元，与10月基本相当。二是跨境收支保持活跃。11月，企业、个人等非银行部门跨 境收入和支出合计为1.3万亿美元，环比增长8%，跨境收支顺差178亿美元，低于9至10月平均240亿美 元的水平。分项目看，货物贸易仍是主要的资金净流入渠道，服务贸易、投资收益、直接投资项下资金 流动保持稳定，近期证券投资项下资金流动更趋平稳。总体看，当前我国外贸外资保持韧性，跨境资金 流动和外汇市场预期平稳，外汇交易稳健有序。 ...

Core Viewpoint - The State Administration of Foreign Exchange reported stable foreign exchange settlement and sales in November, with a surplus of 15.7 billion USD, remaining consistent with October levels [1] Group 1: Cross-Border Capital Flows - In November, cross-border income and expenditure for non-bank sectors, including enterprises and individuals, totaled 1.3 trillion USD, reflecting an 8% month-on-month increase [1] - The cross-border capital flow surplus was 17.8 billion USD, lower than the average surplus of 24 billion USD in September and October [1] Group 2: Trade and Investment - Goods trade continues to be the primary channel for net capital inflows, while service trade, investment income, and direct investment flows remain stable [1] - Recent trends indicate that capital flows under securities investment have become more stable [1] Group 3: Market Stability - Overall, China's foreign trade and foreign investment demonstrate resilience, with cross-border capital flows and foreign exchange market expectations remaining stable [1] - Foreign exchange transactions are reported to be steady and orderly [1]

"总体看，当前我国外贸外资保持韧性，跨境资金流动和外汇市场预期平稳，外汇交易稳健有序。"李斌 说。 李斌分析，一是外汇市场供求延续基本平衡。11月，银行结汇和售汇规模均保持稳定，结售汇顺差157 亿美元，与10月基本相当。二是跨境收支保持活跃。11月，企业、个人等非银行部门跨境收入和支出合 计为1.3万亿美元，环比增长8%，跨境收支顺差178亿美元，低于9至10月平均240亿美元的水平。分项 目看，货物贸易仍是主要的资金净流入渠道，服务贸易、投资收益、直接投资项下资金流动保持稳定， 近期证券投资项下资金流动更趋平稳。 国家外汇管理局副局长、新闻发言人李斌12月19日就2025年11月外汇市场形势答记者问时表示，11月以 来，国际金融市场延续较高波动态势，美元指数总体走弱，主要非美货币表现偏强。我国外汇市场继续 保持平稳运行。 ...

答：11月以来，国际金融市场延续较高波动态势，美元指数总体走弱，主要非美货币表现偏强。我国外 汇市场继续保持平稳运行。一是外汇市场供求延续基本平衡。11月，银行结汇和售汇规模均保持稳定， 结售汇顺差157亿美元，与10月基本相当。二是跨境收支保持活跃。11月，企业、个人等非银行部门跨 境收入和支出合计为1.3万亿美元，环比增长8%，跨境收支顺差178亿美元，低于9至10月平均240亿美 元的水平。分项目看，货物贸易仍是主要的资金净流入渠道，服务贸易、投资收益、直接投资项下资金 流动保持稳定，近期证券投资项下资金流动更趋平稳。总体看，当前我国外贸外资保持韧性，跨境资金 流动和外汇市场预期平稳，外汇交易稳健有序。 人民财讯12月19日电，日前，国家外汇管理局公布了2025年11月银行代客涉外收付款和结售汇数据。国 家外汇管理局副局长、新闻发言人李斌就2025年11月外汇市场形势回答了记者提问。 问：您如何评价11月以来我国外汇市场运行情况？ ...

Core Viewpoint - The foreign exchange market in China remains stable, with a balanced supply and demand, despite fluctuations in the international financial market and a weakening US dollar [1] Group 1: Foreign Exchange Market Performance - In November 2025, banks settled $209.5 billion and sold $193.8 billion in foreign exchange [1] - From January to November 2025, cumulative bank settlements reached $2,276.9 billion, while cumulative sales totaled $2,180.4 billion [1] - The foreign exchange settlement surplus in November was $15.7 billion, remaining consistent with October's figures [1] Group 2: Cross-Border Capital Flows - Cross-border income and expenditure for non-bank sectors totaled $1.3 trillion in November, reflecting an 8% month-on-month increase [1] - The cross-border balance recorded a surplus of $17.8 billion, lower than the average surplus of $24 billion in September and October [1] - Goods trade continues to be the primary channel for net capital inflows, while service trade, investment income, and direct investment flows remain stable [1]

在此背景下，金融机构纷纷抢抓海南自贸港金融创新机遇，深化EF账户创新应用，提升跨境资金合规 流动便利。 记者了解到，建设银行海南省分行已实现EF账户项下经常项目与资本项目结算、离岸汇率交易、贸易 融资、跨境融资等多场景突破，截至11月该行服务国际结算客户同比增速近44%，国际结算量、跨境人 民币业务量同比增长89%、158%；交通银行海南省分行截至10月末EF账户业务规模突破460亿元，同时 依托EF账户协助海南省政府在香港发行离岸人民币地方债。 自上线以来，EF账户业务量持续提升，已成为海南自贸港资金跨境流动的重要基础平台。中国人民银 行数据显示，截至11月末，海南11家银行共开立EF账户，发生业务量折合人民币2950亿元，开户主体 与80个国家和地区发生资金划转。 12月18日，海南自贸港正式启动全岛封关。作为海南金融高水平开放的重要基础设施，海南自由贸易港 多功能自由贸易账户（EF账户）架起"跨境资金高速路"，助力企业全球化经营。 借助在中国银行开立的EF账户，浙商中拓集团（海南）有限公司的资金在境外子公司便利划转，支付 上游货款、归集下游回款十分顺畅。"不需要在线下提交大量纸质材料，也无需外汇登记、备 ...

Core Viewpoint - The Hainan Free Trade Port is set to enhance its financial services and international business operations, with the Construction Bank focusing on supporting its development through innovative financial solutions and strategic partnerships [1][12]. Group 1: International Business Development - The Hainan Free Trade Port has established a cross-border capital flow management system, which includes a multi-functional free trade account (EF account) to facilitate cross-border transactions [2]. - As of November 2025, the Construction Bank's Hainan branch has opened 104 EF accounts, with a business volume equivalent to approximately 15.7 billion RMB, significantly improving the efficiency of cross-border settlements [2]. - The bank has successfully implemented various financial services under the EF account, including foreign exchange options and trade financing, marking a qualitative leap in cross-border capital flow [2][4]. Group 2: Support for New Quality Productivity - The Construction Bank's Hainan branch is increasing credit support for technology enterprises and strategic emerging industries, exemplified by a 472 million RMB international commercial loan to a rubber industry group to enhance its global market presence [3][5]. - The bank has developed tailored financial services for high-tech enterprises, with a loan balance of 2.643 billion RMB for high-tech industries as of November 2025, reflecting a growth of 23.62% [7][10]. - The bank's focus on innovation includes establishing a dedicated branch in the Sanya Yazhou Bay Science and Technology City to provide comprehensive financial services to key enterprises [6][10]. Group 3: Strengthening the Real Economy - The Construction Bank is committed to nurturing the real economy by integrating financial services with local industry characteristics, providing tailored financing solutions to support supply chain financing for agricultural enterprises [8][9]. - The bank has created a comprehensive financial service ecosystem for the "Hainan Fresh Products" brand, offering a range of services including financing, account management, and cross-border financial services [9]. - As of November 2025, the bank has supported over 24,100 small and micro enterprises, positioning itself as a leader in local financial institutions in terms of loan amounts and customer numbers [11].

与此同时，金融开放创新蹄疾步稳。人民银行锚定"跨境资金流动自由便利"目标，推进一批金融创新政 策先行先试，跨境收支规模持续增长。数据显示，2025年1-11月，海南省跨境收支规模1016.1亿美元， 2020年以来年均增长率55%。 ● 本报记者 彭扬 其中，跨境贸易投资高水平开放试点持续深化。政策实施以来，海南累计发生跨境贸易便利化试点业务 430.5亿美元、跨境投融资便利化试点业务28亿美元。 海南自贸港于12月18日正式启动全岛封关运作。中国证券报记者了解到，2020年《海南自由贸易港建设 总体方案》发布以来，中国人民银行持续完善与海南自贸港相适应的金融政策和制度体系，扎实做好金 融改革发展稳定各项工作，有力支持海南自贸港建设成型起势。 封关三项金融准备工作全部完成。具体而言，跨境资金流动管理制度进一步完善，人民银行海南省分行 制定发布了《海南自由贸易港多功能自由贸易账户业务管理办法》，为跨境资金自由流动提供制度保 障。多功能自由贸易账户（EF账户）上线运行，2025年10月末，海南11家银行上线EF账户，发生业务 量折合人民币超2500亿元；开户主体与80个国家和地区发生资金划转。跨境资金流动监测预警 ...

2025.12. 15 本文字数：3375，阅读时长大约6分钟 作者 | 第一财经 王方然 钱转出去了，想转回来却成了难题。 王腾飞看着香港账户里的数字发呆，年初港股打新的盈利、加上多年的积蓄，足够付一套婚房的首 付，但当他尝试将资金转回内地时，却发现并不简单：这笔钱超过个人每年5万美元的换汇额度，需 要分年操作；如果留在香港，当地存款利率已不再具有优势。 "钱明明在那里，却不知道该怎么安全地拿回来。"他苦笑道。 过去几年，在内地居民资产配置多元化与跨境业务拓展的需求驱动下，赴境外尤其是香港开设银行账 户一度蔚然成风。境外账户似乎意味着更自由的资金流动，但实际操作中，从转入到转出，每一步都 可能遇到意想不到的障碍。资金损耗、地区规则差异，甚至账户冻结，形成了一张隐形的成本网。 与此同时，针对跨境资金流动的监管也进一步趋严。2026年1月1日起，针对跨境汇款业务，单笔人 民币5000元或外币等值1000美元以上汇款，需核实汇款人信息的准确性。近期，内地客户赴港开户 难度也在增加，且部分银行针对2026年非香港身份证新开户账户或将加收管理费。 尽管政策初衷在于风险防控，并未直接调整个人外汇额度，但其传递的审慎信号 ...

Core Insights - The foreign exchange market in China remains stable despite fluctuations in the international financial market, with a reported surplus in bank settlement and sales of foreign exchange [1][2] Group 1: Bank Settlement and Sales Data - In October 2025, banks settled foreign exchange at USD 214.2 billion and sold USD 196.5 billion, resulting in a surplus of USD 17.7 billion, which shows a narrowing trend compared to previous months [1] - The foreign exchange income for clients was USD 623.1 billion, while foreign payments amounted to USD 571.9 billion in the same month [1] - The dollar index increased by 2.1% to 99.8 in October, indicating a general upward trend in the dollar's value [1] Group 2: Cross-Border Capital Flows - In September, there was a slight net outflow of cross-border funds due to holiday factors, but October saw an increase in net inflows, with an average monthly surplus of USD 24 billion over the two months [2] - High levels of net inflow from trade funds were maintained, while seasonal declines were noted in cross-border expenditures related to travel and dividends [2] - Future bank settlement and sales are expected to remain stable, influenced by both domestic economic fundamentals and international market conditions [2]