The State Council Office held a press conference this morning, and invited Wang Chunying, director of the International Payments Department and spokesperson of the State Administration of Foreign Exchange, to introduce the data of foreign exchange receipts and payments in the first quarter of 20 18 and answer questions from reporters.
Wang Chunying introduced that in the first quarter of 20 18, the global economy continued to recover steadily and the international financial market fluctuated more. China's economic operation has maintained a stable and positive trend, and the transformation and upgrading have been further promoted, and the quality and efficiency have been continuously improved. The exchange rate of RMB against the US dollar fluctuated in both directions and remained basically stable, and the exchange rate expectation was reasonably divided. The foreign exchange bureau adheres to the general tone of striving for progress while maintaining stability and promotes the balanced management of cross-border capital flows. Generally speaking, in the first quarter of 20 18, China's cross-border capital flows remained stable, and the supply and demand in the domestic foreign exchange market were independently balanced.
Wang Chunying said that from the data of bank settlement and sale of foreign exchange, in the first quarter of 20 18, bank settlement and sale of foreign exchange was 2.76 trillion yuan (equivalent to 434.2 billion US dollars) and 2.88 trillion yuan (equivalent to 452.5 billion US dollars), with a deficit of1/kloc-0.55 billion yuan (equivalent to1) The data of foreign-related receipts and payments by banks on behalf of customers show that foreign-related income of banks on behalf of customers is 5.38 trillion yuan (US$ 845.6 billion), foreign-related payments are 5.3 1 trillion yuan (US$ 834.9 billion), and the foreign-related receipts and payments surplus is 70.7 billion yuan (US$ 107 billion).
Wang Chunying said that in the first quarter of 20 18, China's foreign exchange receipts and payments mainly showed the following characteristics:
First, the deficit in bank settlement and sale of foreign exchange has dropped sharply, and foreign-related receipts and payments have shown a surplus. In the first quarter of 20 18, in terms of US dollars, the bank's foreign exchange settlement increased by 16% year-on-year, the foreign exchange sales increased by 9%, and the deficit in foreign exchange settlement and sales decreased by 55% year-on-year. The foreign-related income of banks on behalf of customers increased by 25% year-on-year, the expenditure increased by 19%, and the foreign-related payment surplus was 107 billion US dollars, compared with the deficit of 25.2 billion US dollars in the same period last year.
Second, the supply and demand in the foreign exchange market continue to show an independent and balanced pattern. According to the data of bank settlement and sale of foreign exchange, the deficits in June-March of 20 18 were 900 million, 8.2 billion and 9.2 billion dollars respectively. If we consider the influencing factors of foreign exchange supply and demand, such as forward settlement and sale of foreign exchange and options, China's foreign exchange supply and demand have basically maintained a balance since 20 18. For example, the foreign exchange supply formed by option trading in the first quarter was $9.9 billion, of which $465,438+billion was increased in March.
Third, the exchange rate declined slightly year-on-year, and the scale of foreign exchange financing rebounded. In the first quarter of 20 18, the selling exchange rate, that is, the ratio of customers' foreign exchange purchases from banks to customers' foreign exchange expenditures, was 64%, which was 4 percentage points lower than that in the same period of 20 17, indicating that enterprises' willingness to purchase foreign exchange decreased and the situation of borrowing foreign exchange loans increased. At the end of March 2065438+2008, the balance of domestic foreign exchange loans of Chinese banks increased by11800 million US dollars, and the balance of cross-border financing of imported foreign currency such as overseas agency payment and forward letters of credit increased by 7.7 billion US dollars.
Fourth, the exchange rate remained stable year-on-year, and the willingness of market participants to hold foreign exchange has declined recently. The exchange rate of foreign exchange settlement in the first quarter of 20 18, that is, the foreign exchange sold by customers accounted for 62% of customers' foreign exchange income, which was 0. 1 percentage point higher than that in the same period of 20 17, indicating that the willingness of market participants to settle foreign exchange was basically stable. In February and March of 20 18, the balance of domestic foreign exchange deposits of Chinese banks decreased by US$ 4.9 billion and US$ 6.5 billion respectively, which changed the upward trend of 18 in June.
Fifth, the deficit in the settlement and sale of foreign exchange in bank forward contracts has gradually narrowed. In the first quarter of 20 18, the forward foreign exchange settlement and sale contracts between banks and customers increased by 7 1% year-on-year, the forward foreign exchange settlement and sale contracts increased by 103% year-on-year, and the forward foreign exchange settlement and sale contract deficit was17.8 billion USD, which narrowed month by month. The forward settlement and sale deficit 1 to March is 1 18 respectively.
Sixth, the balance of foreign exchange reserves has generally rebounded. By the end of March 20 18, the balance of China's foreign exchange reserves was $3142.8 billion, an increase of $2.9 billion compared with the end of March 20 17.
The content comes from Yang Guang.