Core Viewpoint - The foreign exchange market in China remains stable, with a balanced supply and demand, as indicated by the data released by the State Administration of Foreign Exchange (SAFE) for October, showing a surplus in bank settlement and sales of foreign exchange [1] Group 1: Foreign Exchange Market Performance - In October, banks settled 214.2 billion USD and sold 196.5 billion USD, resulting in a settlement surplus of 17.7 billion USD, which has narrowed compared to previous months [1] - The settlement and sales rates are consistent with the average levels observed in the first nine months of the year, indicating a more balanced foreign exchange activity [1] Group 2: Cross-Border Capital Flows - Cross-border capital flows remained stable, with a slight net outflow in September due to holiday factors, followed by an increase in net inflows in October, leading to an average monthly surplus of 24 billion USD over the two months [1] - High levels of net inflow from trade in goods were maintained, while seasonal declines were noted in cross-border expenditures related to travel and foreign enterprise dividends [1] Group 3: Market Outlook - The Deputy Director of SAFE, Li Bin, noted an increase in volatility in international financial markets and a general rise in the US dollar index since October [1] - Overall, the expectations for China's foreign exchange market remain stable, with a balanced supply and demand, showcasing strong resilience and vitality [1]

Core Viewpoint - The article discusses the fluctuations in various currency pairs, highlighting the movements of the Euro, British Pound, Swiss Franc, and commodity currencies against the US Dollar on November 18. Currency Movements - The Euro against the US Dollar decreased by 0.08%, closing at 1.1583, with a daily high of 1.1608 and a low of 1.1572 [1] - The British Pound against the US Dollar fell by 0.03%, settling at 1.3151 [1] - The US Dollar appreciated by 0.43% against the Swiss Franc, reaching 0.7996, after hitting a daily low of 0.7938 [1] Commodity Currencies - The Australian Dollar increased by 0.31% against the US Dollar [1] - The New Zealand Dollar rose by 0.11% against the US Dollar [1] - The US Dollar declined by 0.52% against the Canadian Dollar [1] Other Currency Movements - The Swedish Krona and Norwegian Krona both appreciated by 0.03% against the US Dollar [1] - The Danish Krone decreased by 0.08% against the US Dollar [1] - The Polish Zloty fell by 0.18% against the US Dollar, while the Hungarian Forint increased by 0.12% [1]

(责任编辑：朱赫) "总的来看，我国外汇市场预期平稳，供求基本平衡，保持较强韧性和活力。"国家外汇管理局副局长、 新闻发言人李斌表示，10月以来，国际金融市场波动性有所上升，美元指数总体上行。我国外汇市场继 续保持稳健运行态势。一是外汇市场供求基本平衡。10月份，银行结售汇顺差177亿美元，环比有所收 窄，结售汇更加平衡。企业等主体根据实际需求有序开展结汇和购汇交易，结汇率和售汇率与前9个月 月均水平基本相当。二是跨境资金流动保持稳定。受国庆中秋假期因素等影响，9月份企业、个人等非 银行部门跨境资金小幅净流出，10月份跨境资金净流入增多，综合两个月情况看跨境收支月均顺差为 240亿美元。 国家外汇管理局17日公布的数据显示，10月份，银行结汇15194亿元，售汇13940亿元；银行代客涉外收 入44207亿元，对外付款40579亿元。 ...

Group 1: Foreign Exchange Market - The foreign exchange market in China has maintained a stable operation despite increased volatility in international financial markets and a rising US dollar index [1] - In October, the bank's foreign exchange settlement and sales surplus was $17.7 billion, indicating a more balanced foreign exchange market [1] - Cross-border capital flows remained stable, with a monthly average surplus of $24 billion over the two months of September and October [1] Group 2: Pension Finance Policy - Guangdong Province has introduced its first dedicated pension finance policy aimed at high-quality development [2] - The implementation plan sets two-stage goals for pension finance development, aiming for a well-established supply system by 2028 [2] - The policy is expected to enhance the efficiency of pension fund utilization and promote the development of the pension industry in Guangdong [2] Group 3: Urban Commercial Banks - The total asset scale of urban commercial banks in China has surpassed 60 trillion yuan, reflecting rapid growth in the financial sector [3] - This asset growth represents a 134-fold increase since 1995, with urban commercial banks now holding a 13.53% market share [3] - The non-performing loan ratio stands at 1.76%, with a provision coverage ratio of 188.08% and a capital adequacy ratio of 12.97% [3] Group 4: Gold Consumption Trends - International gold prices remain high, with domestic jewelry prices exceeding 1300 yuan per gram [4] - New consumption trends are emerging, with consumers favoring lightweight gold products and gold bars [4] - The strong performance of gold prices is attributed to global geopolitical uncertainties and fluctuations in the US dollar index [4] Group 5: Retail Banking Trends - Retail banking is experiencing a shift, with the growth of high-net-worth clients outpacing that of basic retail clients [5][6] - Six banks reported varying growth rates for ordinary retail clients, while private banking client growth rates were significantly higher [5] - This trend indicates a deeper competition in retail banking, necessitating a focus on existing customer segments [6]

（文章来源：经济日报） "总的来看，我国外汇市场预期平稳，供求基本平衡，保持较强韧性和活力。"国家外汇管理局副局长、 新闻发言人李斌表示，10月以来，国际金融市场波动性有所上升，美元指数总体上行。我国外汇市场继 续保持稳健运行态势。一是外汇市场供求基本平衡。10月份，银行结售汇顺差177亿美元，环比有所收 窄，结售汇更加平衡。企业等主体根据实际需求有序开展结汇和购汇交易，结汇率和售汇率与前9个月 月均水平基本相当。二是跨境资金流动保持稳定。受国庆中秋假期因素等影响，9月份企业、个人等非 银行部门跨境资金小幅净流出，10月份跨境资金净流入增多，综合两个月情况看跨境收支月均顺差为 240亿美元。 国家外汇管理局17日公布的数据显示，10月份，银行结汇15194亿元，售汇13940亿元；银行代客涉外收 入44207亿元，对外付款40579亿元。 ...

Core Insights - The State Administration of Foreign Exchange reported data on bank foreign exchange settlement and sales for October, indicating a stable foreign exchange market in China despite increased volatility in international financial markets [1] Group 1: Foreign Exchange Data - In October, banks settled foreign exchange at $214.2 billion and sold $196.5 billion, resulting in a surplus of $1.77 billion, which has narrowed compared to previous months [1] - The foreign exchange rates for settlement and sales remained consistent with the average levels from the first nine months of the year [1] Group 2: Cross-Border Capital Flows - Cross-border capital flows remained stable, with a net inflow of capital in October following a slight net outflow in September due to holiday factors [1] - The average monthly surplus for cross-border receipts and payments over the two months was $24 billion, with high levels of net inflow from trade in goods [1] - Seasonal declines were noted in cross-border expenditures related to travel and dividend payments, while outflows from service trade and investment income decreased compared to previous months [1]

周一（11月17日）纽约尾盘，美元兑日元涨0.43%，报155.21日元，日内交投区间为154.42-155.30日 元。欧元兑日元涨0.14%，报179.86日元，北京时间00:45曾涨至180.02日元创历史新高；英镑兑日元涨 0.27%，报204.123日元。欧元兑美元跌0.29%，英镑兑美元跌0.16%，美元兑瑞郎涨0.30%。商品货币对 中，澳元兑美元跌0.83%，纽元兑美元跌0.56%，美元兑加元涨0.23%——22:55以来从1.4030显著拉升接 近1.4060。瑞典克朗兑美元跌0.32%，挪威克朗兑美元跌0.21%，丹麦克朗兑美元跌0.29%。波兰兹罗提 兑美元跌0.44%，匈牙利福林兑美元跌0.35%。 ...

11月17日，国家外汇管理局副局长、新闻发言人李斌就2025年10月外汇市场形势回答记者提问时表示， 10月以来，国际金融市场波动性有所上升，美元指数总体上行。我国外汇市场继续保持稳健运行态势。 具体来看，10月外汇市场供求基本平衡。10月，银行结售汇顺差177亿美元，环比有所收窄，结售汇更 加平衡。企业等主体根据实际需求有序开展结汇和购汇交易，结汇率和售汇率与前9个月月均水平基本 相当。 10月跨境资金流动保持稳定。受国庆中秋假期因素等影响，9月企业、个人等非银行部门跨境资金小幅 净流出，10月跨境资金净流入增多，综合两个月情况看跨境收支月均顺差为240亿美元。 （文章来源：期货日报网） ...

2025年10月，银行代客涉外收入44207亿元人民币，对外付款40579亿元人民币。2025年1—10月，银行 代客累计涉外收入464836亿元人民币，累计对外付款452607亿元人民币。按美元计值，2025年10月，银 行代客涉外收入6231亿美元，对外付款5719亿美元。2025年1—10月，银行代客累计涉外收入64936亿美 元，累计对外付款63227亿美元。 二是跨境资金流动保持稳定。受国庆中秋假期因素等影响，9月企业、个人等非银行部门跨境资金小幅 净流出，10月跨境资金净流入增多，综合两个月情况看跨境收支月均顺差为240亿美元。其中，货物贸 易资金净流入保持高位；居民出境旅行、外资企业分红派息等跨境支出季节性回落，服务贸易、投资收 益资金净流出环比收窄。总的来看，我国外汇市场预期平稳，供求基本平衡，保持较强韧性和活力。 国家外汇管理局副局长、新闻发言人李斌表示，10月以来，国际金融市场波动性有所上升，美元指数总 体上行。我国外汇市场继续保持稳健运行态势。 期货日报网讯（记者 肖佳煊）11月17日，国家外汇管理局发布的统计数据显示，2025年10月，银行结 汇15194亿元人民币，售汇13940亿元 ...

Core Insights - The foreign exchange market in China is maintaining a stable operation despite increased volatility in international financial markets and a rising US dollar index [1][2][3] Group 1: Foreign Exchange Statistics - In October 2025, banks settled foreign exchange transactions amounting to 15,194 billion RMB and sold 13,940 billion RMB [1] - From January to October 2025, banks cumulatively settled 147,941 billion RMB and sold 142,201 billion RMB [1] - In USD terms, banks settled 2,142 million USD and sold 1,965 million USD in October 2025, with cumulative settlements of 20,675 million USD and sales of 19,866 million USD from January to October 2025 [1] Group 2: Cross-Border Capital Flows - The foreign exchange market supply and demand are fundamentally balanced, with a surplus of 177 million USD in bank settlement and sales in October, indicating a more balanced situation compared to previous months [2] - Cross-border capital flows remain stable, with a slight net outflow in September due to holiday factors, followed by increased net inflows in October [2] - The average monthly surplus for cross-border receipts and payments over the two months is 240 million USD, with high net inflows from trade and a seasonal decline in cross-border expenditures [2] Group 3: Market Outlook - Overall, the foreign exchange market in China is expected to remain stable, with a balanced supply and demand, demonstrating strong resilience and vitality [3]