Core Viewpoint - The State Administration of Foreign Exchange of China reported significant foreign exchange data for November 2025, indicating a robust level of foreign currency transactions by banks, with a notable surplus in foreign income over payments [1] Group 1: November 2025 Data - In November 2025, banks recorded foreign income of 46,372 billion RMB and foreign payments of 45,112 billion RMB [1] - In USD terms, the foreign income amounted to 6,545 million USD, while foreign payments were 6,367 million USD [1] Group 2: Cumulative Data for January to November 2025 - From January to November 2025, banks accumulated foreign income of 511,208 billion RMB and foreign payments of 497,719 billion RMB [1] - In USD, the cumulative foreign income reached 71,481 million USD, with cumulative payments at 69,594 million USD [1]

Core Insights - The State Administration of Foreign Exchange reported that in November 2025, banks settled foreign exchange transactions amounting to 14,840 billion RMB and sold 13,732 billion RMB [1] - Cumulatively from January to November 2025, banks settled 162,781 billion RMB and sold 155,932 billion RMB [1] Group 1: Foreign Exchange Settlement - In November 2025, banks settled foreign exchange transactions worth 2,095 million USD and sold 1,938 million USD [1] - From January to November 2025, the cumulative settlement was 22,769 million USD, while sales totaled 21,804 million USD [1] Group 2: Foreign Customer Transactions - In November 2025, banks recorded foreign customer income of 46,372 billion RMB and foreign payments of 45,112 billion RMB [1] - For the period from January to November 2025, the cumulative foreign customer income was 511,208 billion RMB, with payments amounting to 497,719 billion RMB [1] Group 3: Foreign Customer Transactions in USD - In November 2025, foreign customer income was 6,545 million USD, while foreign payments were 6,367 million USD [1] - Cumulatively from January to November 2025, foreign customer income reached 71,481 million USD, and payments totaled 69,594 million USD [1]

Core Insights - The State Administration of Foreign Exchange reported significant foreign exchange activities in October 2025, with banks settling 15,194 billion RMB and selling 13,940 billion RMB [1] - Cumulative foreign exchange settlements from January to October 2025 reached 147,941 billion RMB, while cumulative sales totaled 142,201 billion RMB [1] Summary by Category Foreign Exchange Settlements - In October 2025, banks settled foreign exchange amounting to 2,142 billion USD and sold 1,965 billion USD [1] - From January to October 2025, cumulative settlements were 20,675 billion USD, with cumulative sales at 19,866 billion USD [1] Customer-Related Foreign Exchange Income - In October 2025, banks recorded customer-related foreign income of 44,207 billion RMB and foreign payments of 40,579 billion RMB [1] - For the period from January to October 2025, cumulative customer-related foreign income was 464,836 billion RMB, while cumulative payments were 452,607 billion RMB [1] Customer-Related Foreign Exchange Income in USD - In October 2025, customer-related foreign income amounted to 6,231 billion USD, with payments at 5,719 billion USD [1] - Cumulative customer-related foreign income from January to October 2025 reached 64,936 billion USD, and cumulative payments totaled 63,227 billion USD [1]

Core Insights - The State Administration of Foreign Exchange reported significant foreign exchange activities for September 2025, with banks settling 1880.9 billion RMB and selling 1518.3 billion RMB [1] - Cumulative foreign exchange settlements from January to September 2025 reached 13274.7 billion RMB, while cumulative sales totaled 12826.1 billion RMB [1] Summary by Category Foreign Exchange Settlements - In September 2025, banks settled foreign exchange amounting to 264.7 billion USD and sold 213.6 billion USD [1] - From January to September 2025, cumulative settlements were 1853.3 billion USD, with cumulative sales at 1790.1 billion USD [1] Customer-Related Foreign Exchange Income and Payments - In September 2025, banks recorded customer-related foreign income of 4840.9 billion RMB and payments of 4862.9 billion RMB [1] - Cumulative customer-related foreign income from January to September 2025 was 42062.8 billion RMB, while cumulative payments were 41202.9 billion RMB [1] Customer-Related Foreign Exchange in USD - For September 2025, customer-related foreign income was 681.2 billion USD, with payments at 684.3 billion USD [1] - Cumulative customer-related foreign income from January to September 2025 reached 5870.5 billion USD, and cumulative payments totaled 5750.8 billion USD [1]

Core Insights - The State Administration of Foreign Exchange reported that in September 2025, banks' foreign-related income was 48,409 billion RMB, while foreign payments amounted to 48,629 billion RMB [1] - Cumulatively, from January to September 2025, banks' foreign-related income reached 420,628 billion RMB, and foreign payments totaled 412,029 billion RMB [1] - In USD terms, in September 2025, banks' foreign-related income was 6,812 million USD, and foreign payments were 6,843 million USD [1] - For the period from January to September 2025, banks' cumulative foreign-related income was 58,705 million USD, with cumulative foreign payments at 57,508 million USD [1]

Core Insights - The State Administration of Foreign Exchange reported that in July 2025, banks settled 16,700 billion RMB and sold 15,070 billion RMB [1] - From January to July 2025, banks cumulatively settled 98,835 billion RMB and sold 99,020 billion RMB [1] Currency Settlement - In July 2025, banks settled 2,336 billion USD and sold 2,108 billion USD [1] - Cumulatively from January to July 2025, banks settled 13,768 billion USD and sold 13,793 billion USD [1] Foreign Exchange Income and Payments - In July 2025, banks recorded foreign income of 49,357 billion RMB and foreign payments of 49,909 billion RMB [1] - From January to July 2025, cumulative foreign income was 326,705 billion RMB and cumulative foreign payments were 318,116 billion RMB [1] Foreign Exchange Income and Payments in USD - In July 2025, banks recorded foreign income of 6,904 billion USD and foreign payments of 6,981 billion USD [1] - Cumulatively from January to July 2025, foreign income was 45,510 billion USD and foreign payments were 44,315 billion USD [1]

Core Insights - The State Administration of Foreign Exchange reported that in July 2025, banks settled 16,700 billion RMB and sold 15,070 billion RMB [1] - For the first seven months of 2025, banks cumulatively settled 98,835 billion RMB and sold 99,020 billion RMB [1] Currency Exchange Data - In July 2025, banks settled 2,336 million USD and sold 2,108 million USD [1] - From January to July 2025, banks cumulatively settled 13,768 million USD and sold 13,793 million USD [1] Foreign Exchange Income and Payments - In July 2025, banks recorded foreign income of 49,357 billion RMB and foreign payments of 49,909 billion RMB [1] - For the first seven months of 2025, banks cumulatively recorded foreign income of 326,705 billion RMB and foreign payments of 318,116 billion RMB [1] Foreign Exchange Income and Payments in USD - In July 2025, banks recorded foreign income of 6,904 million USD and foreign payments of 6,981 million USD [1] - From January to July 2025, banks cumulatively recorded foreign income of 45,510 million USD and foreign payments of 44,315 million USD [1]