Core Insights - The State Administration of Foreign Exchange (SAFE) released data on bank foreign exchange settlement and sales for October 2025, indicating significant foreign exchange activity in the banking sector [1] Group 1: Bank Foreign Exchange Settlement and Sales - In October 2025, banks settled foreign exchange amounting to 15,194 billion RMB and sold 13,940 billion RMB [1] - From January to October 2025, cumulative bank settlements reached 147,941 billion RMB, while cumulative sales totaled 142,201 billion RMB [1] - In USD terms, banks settled 2,142 million USD and sold 1,965 million USD in October 2025 [1] - Cumulatively, from January to October 2025, banks settled 20,675 million USD and sold 19,866 million USD [1] Group 2: Bank Customer Foreign Exchange Income and Payments - In October 2025, banks recorded customer foreign exchange income of 44,207 billion RMB and foreign payments of 40,579 billion RMB [1] - Cumulatively, from January to October 2025, customer foreign exchange income reached 464,836 billion RMB, while foreign payments totaled 452,607 billion RMB [1] - In USD terms, customer foreign exchange income was 6,231 million USD and foreign payments were 5,719 million USD in October 2025 [1] - Cumulatively, from January to October 2025, customer foreign exchange income amounted to 64,936 million USD, with foreign payments at 63,227 million USD [1]

Core Insights - The State Administration of Foreign Exchange (SAFE) released data on bank foreign exchange settlement and sales for September 2025, indicating significant foreign exchange activities [2] Group 1: Bank Foreign Exchange Settlement and Sales - In September 2025, banks settled 18,809 billion RMB and sold 15,183 billion RMB [2] - From January to September 2025, cumulative bank settlements reached 132,747 billion RMB, while cumulative sales totaled 128,261 billion RMB [2] - In USD terms, banks settled 2,647 million USD and sold 2,136 million USD in September 2025 [2] - Cumulative bank settlements in USD from January to September 2025 amounted to 18,533 million USD, with cumulative sales at 17,901 million USD [2] Group 2: Bank Customer Foreign Exchange Income and Payments - In September 2025, banks recorded foreign exchange income of 48,409 billion RMB and foreign payments of 48,629 billion RMB [2] - Cumulative foreign exchange income from January to September 2025 was 420,628 billion RMB, while cumulative payments were 412,029 billion RMB [2] - In USD terms, foreign exchange income for September 2025 was 6,812 million USD, with payments at 6,843 million USD [2] - Cumulative foreign exchange income in USD from January to September 2025 reached 58,705 million USD, and cumulative payments were 57,508 million USD [2]

Core Viewpoint - The foreign exchange market in China remained stable in September 2025, with active and balanced cross-border capital flows, indicating robust foreign-related economic development [1] Summary by Categories Foreign Exchange Market Performance - In September 2025, the total cross-border income and expenditure of non-bank sectors, including enterprises and individuals, reached $1.37 trillion, reflecting a month-on-month increase of 7% [1] - Both current account and capital account cross-border receipts and payments continued to grow, showcasing the steady development of China's foreign-related economy [1] Cross-Border Capital Flows - Due to seasonal effects from the National Day holiday, there was a slight net outflow of $3.1 billion in cross-border capital in September; however, this trend reversed to a net inflow in October [1] - The net inflow of funds under the goods trade category remained high, indicating steady growth in foreign trade [1] Sectoral Analysis - Cross-border capital flows in service trade and investment income remained relatively stable, contributing to the overall balanced performance of the foreign exchange market [1]

Core Insights - The foreign exchange market in China showed stable operation in August, with active trading and balanced supply and demand [2] Group 1: Bank Settlement Data - In August, banks settled foreign exchange transactions amounting to 15,103 billion RMB and sold 14,058 billion RMB [1] - From January to August, cumulative bank settlements reached 113,938 billion RMB, while cumulative sales were 113,078 billion RMB [1] - In USD terms, banks settled 2,118 billion USD and sold 1,971 billion USD in August [1] - Cumulatively, from January to August, bank settlements totaled 15,886 billion USD, and sales amounted to 15,765 billion USD [1] Group 2: Cross-Border Payments - In August, banks recorded foreign income of 45,515 billion RMB and foreign payments of 45,284 billion RMB [1] - Cumulatively, from January to August, foreign income reached 372,219 billion RMB, while foreign payments totaled 363,400 billion RMB [1] - In USD terms, foreign income in August was 6,383 billion USD, and foreign payments were 6,350 billion USD [1] - Cumulatively, from January to August, foreign income amounted to 51,893 billion USD, and payments were 50,665 billion USD [1] Group 3: Market Activity and Trends - Non-bank sectors, including enterprises and individuals, engaged in cross-border receipts and payments totaling 1.3 trillion USD in August, reflecting an 8% year-on-year increase [2] - Both current and capital account cross-border receipts and payments saw growth, indicating steady development in trade and investment [2] - The net inflow of cross-border funds was 32 billion USD in August, with a bank settlement surplus of 14.6 billion USD [2] - Overall, the foreign exchange market is characterized by active trading and stable market expectations [2]

Core Insights - The State Administration of Foreign Exchange (SAFE) reported data on bank foreign exchange settlement and sales for August 2025, indicating significant foreign exchange activities in the banking sector [1] Group 1: Bank Foreign Exchange Settlement and Sales - In August 2025, banks settled foreign exchange amounting to 15,103 billion RMB and sold 14,058 billion RMB [1] - From January to August 2025, cumulative bank settlements reached 113,938 billion RMB, while cumulative sales totaled 113,078 billion RMB [1] - In USD terms, banks settled 2,118 million USD and sold 1,971 million USD in August 2025 [1] - Cumulatively, from January to August 2025, banks settled 15,886 million USD and sold 15,765 million USD [1] Group 2: Bank Customer Foreign Exchange Income and Payments - In August 2025, banks recorded foreign exchange income of 45,515 billion RMB and foreign payments of 45,284 billion RMB [1] - Cumulatively, from January to August 2025, banks had total foreign exchange income of 372,219 billion RMB and total foreign payments of 363,400 billion RMB [1] - In USD terms, foreign exchange income for August 2025 was 6,383 million USD, with payments at 6,350 million USD [1] - From January to August 2025, cumulative foreign exchange income was 51,893 million USD, while cumulative payments were 50,665 million USD [1]

Core Insights - The State Administration of Foreign Exchange (SAFE) released data on bank foreign exchange settlement and sales for August 2025, indicating significant foreign exchange activity in the banking sector [1] Group 1: Bank Foreign Exchange Settlement and Sales - In August 2025, banks settled foreign exchange amounting to 15,103 billion RMB and sold 14,058 billion RMB [1] - From January to August 2025, cumulative bank settlements reached 113,938 billion RMB, while cumulative sales totaled 113,078 billion RMB [1] - In USD terms, banks settled 2,118 million USD and sold 1,971 million USD in August 2025 [1] - Cumulatively, from January to August 2025, banks settled 15,886 million USD and sold 15,765 million USD [1] Group 2: Bank Customer Foreign Exchange Income and Payments - In August 2025, banks recorded foreign exchange income from customers of 45,515 billion RMB and foreign payments of 45,284 billion RMB [1] - Cumulatively, from January to August 2025, banks had total foreign exchange income of 372,219 billion RMB and total foreign payments of 363,400 billion RMB [1] - In USD terms, customer foreign exchange income in August 2025 was 6,383 million USD, while foreign payments were 6,350 million USD [1] - From January to August 2025, cumulative foreign exchange income reached 51,893 million USD and cumulative payments totaled 50,665 million USD [1]

Core Insights - The State Administration of Foreign Exchange (SAFE) released data on bank foreign exchange settlement and sales for July 2025, indicating significant foreign exchange activity in the banking sector [1] Group 1: Bank Foreign Exchange Settlement and Sales - In July 2025, banks settled foreign exchange amounting to 16,700 billion RMB and sold 15,070 billion RMB [1] - From January to July 2025, cumulative bank foreign exchange settlement reached 98,835 billion RMB, while sales totaled 99,020 billion RMB [1] - In USD terms, banks settled 2,336 million USD and sold 2,108 million USD in July 2025 [1] - Cumulatively, from January to July 2025, banks settled 13,768 million USD and sold 13,793 million USD [1] Group 2: Bank Customer Foreign Payments and Receipts - In July 2025, banks recorded foreign income of 49,357 billion RMB and foreign payments of 49,909 billion RMB [1] - Cumulatively, from January to July 2025, banks had foreign income of 326,705 billion RMB and foreign payments of 318,116 billion RMB [1] - In USD terms, foreign income for July 2025 was 6,904 million USD, while foreign payments were 6,981 million USD [1] - From January to July 2025, cumulative foreign income was 45,510 million USD and payments were 44,315 million USD [1]

Core Insights - The State Administration of Foreign Exchange (SAFE) released data on bank foreign exchange settlement and sales for July 2025, indicating significant foreign exchange activity in the banking sector [1] Group 1: Bank Foreign Exchange Settlement and Sales - In July 2025, banks settled foreign exchange amounting to 16,700 billion RMB and sold 15,070 billion RMB [1] - From January to July 2025, cumulative bank settlements reached 98,835 billion RMB, while cumulative sales totaled 99,020 billion RMB [1] - In USD terms, banks settled 2,336 million USD and sold 2,108 million USD in July 2025 [1] - Cumulatively, from January to July 2025, banks settled 13,768 million USD and sold 13,793 million USD [1] Group 2: Bank Customer Foreign Exchange Income and Payments - In July 2025, banks recorded foreign exchange income from customers of 49,357 billion RMB and payments of 49,909 billion RMB [1] - Cumulatively, from January to July 2025, banks had foreign exchange income of 326,705 billion RMB and payments of 318,116 billion RMB [1] - In USD terms, customer foreign exchange income in July 2025 was 6,904 million USD, while payments were 6,981 million USD [1] - From January to July 2025, cumulative foreign exchange income from customers was 45,510 million USD, with payments totaling 44,315 million USD [1]

Core Insights - The State Administration of Foreign Exchange reported that in May 2025, banks settled foreign exchange transactions amounting to 1.3861 trillion RMB and sold 1.3051 trillion RMB [1] - Cumulatively, from January to May 2025, banks settled a total of 6.7235 trillion RMB and sold 7.0867 trillion RMB [1] - In May 2025, banks recorded foreign-related income of 448 billion RMB and foreign payments of 424.26 billion RMB [1] - For the period from January to May 2025, cumulative foreign-related income reached 23.0862 trillion RMB, while cumulative foreign payments totaled 22.3540 trillion RMB [1]