2025年，海南省跨境收支规模达到1154亿美元，同比增长6.1%，创下历史新高。跨境人民币结算额达 5514亿元，同比增长11.6%，其中跨境电商等新业态结算额同比大幅增长120.5%。作为自贸港金融创新 重要载体，多功能自由贸易账户(EF账户)体系稳步发展，截至2025年末，共开立账户810个，业务量达 3509亿元，连接91个国家与地区。跨境资产管理业务试点、外汇展业改革等也顺利推进。 2025年，海南信贷规模快速增长，政策工具精准发力。2025年末，全省本外币各项贷款余额14057亿 元，同比增长10.7%，增速居全国第二。其中，外币各项贷款余额185亿美元，规模跃居至全国第六。 结构性货币政策工具持续发挥作用，全年累计发放支农支小再贷款、再贴现165.55亿元。 本报海口2月4日电(记者董泽扬)记者从2025年金融支持海南省经济社会高质量发展新闻发布会上获悉， 海南2025年金融运行数据亮眼，其中跨境收支规模创历史新高，信贷增速居全国前列。 ...

Group 1 - The core viewpoint is that China's foreign exchange market remains stable, with a notable balance in supply and demand, despite fluctuations in the international financial market [1][2][6] - In November, banks settled 1.484 trillion RMB and sold 1.3732 trillion RMB, resulting in a settlement surplus of 15.7 billion USD, which is consistent with October's figures [1][2] - The cross-border income and expenditure for non-bank sectors reached 1.3 trillion USD in November, reflecting an 8% month-on-month increase, with a surplus of 17.8 billion USD, lower than the average surplus of 24 billion USD from September to October [3] Group 2 - The foreign trade and foreign investment in China show resilience, with stable cross-border capital flows and expectations in the foreign exchange market remaining steady [6]

Core Viewpoint - The foreign exchange market in China remains stable, with a net inflow of cross-border funds amounting to 17.8 billion USD in November 2025, reflecting a balanced supply and demand situation in the market [1][2]. Group 1: Foreign Exchange Market Performance - In November, the bank's foreign exchange settlement and sales maintained stability, with a surplus of 15.7 billion USD, indicating a more balanced supply and demand in the foreign exchange market compared to the previous month [1]. - The overall foreign exchange market is characterized by steady trading and orderly operations, with the foreign trade and foreign investment showing resilience [1]. Group 2: Cross-Border Fund Flows - The total scale of cross-border receipts and payments for non-bank sectors, including enterprises and individuals, reached 1.3 trillion USD in November, reflecting an 8% month-on-month increase and maintaining a high level of activity [1][2]. - The surplus in cross-border receipts and payments for the month was 17.8 billion USD, continuing the trend of net inflows of cross-border funds [1]. Group 3: Main Channels of Cross-Border Fund Flows - Goods trade remains the primary channel for net inflows of funds, while service trade, investment income, and direct investment flows remain stable [2]. - Recent trends indicate that capital flows under securities investment have also become more stable [2].

Group 1 - In November 2025, banks in China reported a foreign exchange settlement of 209.5 billion USD and a foreign exchange sale of 193.8 billion USD, maintaining a stable balance in the foreign exchange market [1] - From January to November 2025, the cumulative foreign exchange settlement reached 2,276.9 billion USD, while the cumulative foreign exchange sale was 2,180.4 billion USD [1] - In November 2025, the foreign exchange income from non-bank sectors amounted to 654.5 billion USD, with foreign payments totaling 636.7 billion USD, indicating active cross-border transactions [1] Group 2 - The foreign exchange market in China has remained stable, with a basic balance in supply and demand, and a settlement surplus of 15.7 billion USD in November, consistent with October's figures [2] - Cross-border income and expenditure for non-bank sectors totaled 1.3 trillion USD in November, reflecting an 8% month-on-month increase, with a surplus of 17.8 billion USD, lower than the average surplus of 24 billion USD from September to October [2] - The primary source of net capital inflow continues to be merchandise trade, while service trade, investment income, and direct investment flows remain stable, indicating resilience in foreign trade and investment [2]

Core Viewpoint - The foreign exchange market in China has maintained stability in November 2025, 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 - The foreign exchange market in China has continued to operate smoothly, with both bank foreign exchange settlement and sales remaining stable [1] - The foreign exchange settlement surplus in November was $15.7 billion, which is comparable to October's figures [1] Group 2: Cross-Border Capital Flows - Cross-border income and expenditure from non-bank sectors, including enterprises and individuals, totaled $1.3 trillion in November, reflecting an 8% month-on-month increase [1] - The cross-border capital flow surplus was $17.8 billion, lower than the average surplus of $24 billion observed in September and October [1] Group 3: Trade and Investment Insights - Goods trade remains the primary channel for net capital inflows, while service trade, investment income, and direct investment flows have remained stable [1] - Recent trends indicate that capital flows under securities investment have become more stable [1]

Core Insights - The foreign exchange market in China has maintained stability despite fluctuations in the international financial market, with a weakening US dollar index and stronger performance of major non-US currencies [1][2] Group 1: Market Performance - The supply and demand in the foreign exchange market have remained basically balanced, with a settlement surplus of 15.7 billion USD in November, which is comparable to October's figures [1][2] - Cross-border receipts and payments have remained active, with total cross-border income and expenditure for non-bank sectors reaching 1.3 trillion USD in November, reflecting an 8% month-on-month increase [1][2] Group 2: Cross-Border Transactions - The cross-border balance showed a surplus of 17.8 billion USD in November, which is lower than the average surplus of 24 billion USD observed in September and October [1][2] - Goods trade continues to be the primary channel for net capital inflows, while service trade, investment income, and direct investment flows have remained stable [1][2]

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 Stability - The foreign exchange market in China has maintained a basic balance in supply and demand, with a settlement surplus of 15.7 billion USD in November, which is roughly the same as in October [1] - The cross-border income and expenditure of non-bank sectors, including enterprises and individuals, totaled 1.3 trillion USD in November, reflecting an 8% month-on-month increase [1] Group 2: Cross-Border Capital Flow - The cross-border capital flow showed a surplus of 17.8 billion USD in November, which is lower than the average surplus of 24 billion USD in September and October [1] - Goods trade remains the primary channel for net capital inflows, while service trade, investment income, and direct investment flows have remained stable [1]

Core Viewpoint - The cross-border payment and settlement scale in China has significantly increased during the "14th Five-Year Plan" period, with a projected total of $14 trillion in 2024, marking a 64% growth compared to 2020, and a 10.5% year-on-year increase in the first three quarters of this year [3][5][6]. Group 1: Cross-Border Trade - The scale of cross-border trade has expanded, with the average annual growth rate during the "14th Five-Year Plan" period being 8 percentage points higher than that of the "13th Five-Year Plan" [3]. - The total value of imports and exports in Gansu Province is expected to exceed 60 billion yuan for the first time in nearly a decade, with an average annual growth rate of 13.9% since 2021 [5]. - The average annual scale of service trade imports and exports has exceeded $860 billion, representing a 26% increase compared to the "13th Five-Year Plan" period [6]. Group 2: Financial Stability - As of June 2025, China's foreign financial assets exceeded $11 trillion, while foreign liabilities surpassed $7.2 trillion, resulting in a net foreign asset of $3.8 trillion, ranking third globally [7]. - The foreign exchange market has been enhanced with a dual management framework, which has effectively responded to external shocks and maintained a stable environment for cross-border payments [7]. Group 3: Service Trade Facilitation - The efficiency of cross-border fund settlement has significantly improved due to the implementation of facilitation policies, allowing companies to complete transactions much faster than before [8][9]. - The introduction of direct settlement for cross-border e-commerce transactions has streamlined processes, reducing the time required for fund settlement to one working day [10]. Group 4: Open Market Developments - The issuance of Panda bonds by foreign entities in China's interbank bond market has continued to grow, with cumulative issuance surpassing 1 trillion yuan [11]. - Reforms in the Qualified Foreign Institutional Investor (QFII) and Renminbi Qualified Foreign Institutional Investor (RQFII) systems have simplified approval processes and enhanced cross-border capital management [12]. - The overall scale of foreign investment in domestic securities has increased by 6% since the beginning of the "14th Five-Year Plan" [13].

Group 1: Financial Performance - In the first three quarters, Guangxi's social financing scale increased by 424.85 billion yuan, with total deposits and loans reaching 4.92 trillion yuan and 5.66 trillion yuan respectively, reflecting year-on-year growth of 6.4% and 6.0% [1] - The financing structure in Guangxi has improved, with net financing from corporate and government bonds and domestic stock financing totaling 165.564 billion yuan, an increase of 42.526 billion yuan year-on-year, accounting for 39% of the social financing scale increment [1] - The weighted average interest rate for newly issued loans in Guangxi was 3.1%, a decrease of 51 basis points year-on-year [1] Group 2: Sectoral Insights - Guangxi's medium to long-term loans for the manufacturing sector grew at a rate 11.9 percentage points higher than the overall loan growth [1] - Loans to small and micro enterprises and inclusive small micro loans increased by 11.3% and 11.1% year-on-year respectively, while green loans increased by 93.3 billion yuan since the beginning of the year [1] - The foreign exchange market in Guangxi showed a positive trend, with a total foreign exchange receipt and payment scale of 52.758 billion USD, a year-on-year increase of 17.67% [2]

Core Insights - The foreign exchange market in China has shown resilience and vitality, with significant growth in cross-border capital flows and foreign investments [1][3][5] Group 1: Foreign Exchange Market Performance - As of July, foreign institutions and individuals held over 10 trillion yuan in domestic stocks, bonds, and deposits, with the RMB's share in cross-border trade rising to nearly 30% [1][5] - The cross-border capital flow is projected to reach 14 trillion USD in 2024, a 64% increase from 2020, with an average annual growth rate during the "14th Five-Year Plan" period 8 percentage points higher than the previous period [3][4] - The trading volume in the foreign exchange market is expected to be 41 trillion USD in 2024, a 37% increase from 2020, indicating a deepening market with sufficient capacity for various transactions [3][4] Group 2: Market Structure and Functionality - The foreign exchange market has become more complete and deepened, with 703 banks and 115 non-bank institutions participating, including 296 foreign institutions [3][4] - The infrastructure for trading, clearing, and payment has improved, effectively reducing transaction costs and settlement risks, thereby better serving the real economy [3][4] Group 3: Stability and Management - The RMB exchange rate has shown increased flexibility, acting as an automatic stabilizer for the macro economy and international balance of payments, with the corporate foreign exchange hedging ratio rising from 17% in 2020 to around 30% [4][5] - The macro-prudential management system for the foreign exchange market is gradually improving, with enhanced counter-cyclical adjustment tools to manage external risks [4][5] Group 4: Future Outlook - 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 [4][6] - The foreign exchange reserve has remained stable above 3 trillion USD, providing a strong foundation for economic stability and growth [6]