武汉放水的场子2020：Supply and demand in the foreign exchange market continue to be basically balanced
Supply and demand in the foreign exchange market continue to be basically balanced
October 23,The State Council Information Office held a press conference on foreign exchange receipts and expenditures data for the first three quarters.Wang Chunying, deputy director and spokesperson of the State Administration of Foreign Exchange, introduced at the meeting,In the first three quarters, China’s cross-border capital flows maintained stable operations.Supply and demand in the foreign exchange market continued to be basically balanced.
Wang Chunying pointed out,since this year,The new crown pneumonia epidemic has seriously affected the global economic and financial stability,The external environment facing China’s foreign exchange receipts and payments is complex and severe.But with the support of domestic fundamentals,The balance of China’s international balance of payments operation, the robustness of the RMB exchange rate, the rationality of foreign exchange market transactions, and the activity of cross-border two-way investment were better than expected.From the second half of the year,The stable development of the foreign exchange market has become more stable,The operation of the main indicators showed a steady and positive trend.
The balance of payments maintains a basic balance,Foreign exchange reserves are generally stable.In the first half of the year,my country’s current account maintains a surplus of US$76.5 billion,The ratio of GDP is 1.2%,Continue to maintain a reasonable balance range.At the end of September,China’s foreign exchange reserves are stable at 3.More than $1 trillion.
The RMB exchange rate has become more flexible,It is stable in the major currencies of the world.since this year,The RMB exchange rate has risen and fallen,Form a two-way fluctuation pattern,Maintain a relatively high elasticity.The one-year implied volatility of the domestic options market is 5%,The fluctuation range of the highest price and the lowest price is 7.5%,Globally, it belongs to a reasonable and moderate range.Other major currencies,The Euro, Japanese Yen, and British Pound are all fluctuating between 7% and 9%.The volatility of RMB has been lower than 2% for a long time in the past.It is 5% now,Reflects increased flexibility.
Market behavior is more rational,The supply and demand of foreign exchange continued to show a basic balance.From the perspective of related indicators of forward options in the foreign exchange market that can reflect exchange rate expectations,The exchange rate is expected to remain generally stable,There is no obvious unilateral expectation.This will help the RMB exchange rate to be basically stable at a reasonable and equilibrium level.It also helps to balance supply and demand in the foreign exchange market.
Cross-border two-way investment is still active,Cross-border capital flows are stable and orderly.Looking at the inflow of foreign capital into China,The Ministry of Commerce announced that the scale of foreign direct investment in China from January to September this year was US$103.3 billion.Growth 2.5%,Increased by 18% in the third quarter; the foreign exchange bureau statistics,From January to September this year,Foreign investors increased their holdings of domestic bonds and stocks to US$132.1 billion.An increase of 47%.Looking at the outflow of cross-border funds,In the first three quarters of this year, foreign direct investment was USD 78.9 billion,A slight decrease of 2.6%; domestic entities purchased 424.4 billion yuan of Hong Kong stocks through “Southbound Trading”.
Wang Chunying said,China’s epidemic prevention and control and economic recovery are at the forefront of the world,Production, service, and consumption provide strong support,These will continue to play a role in enhancing confidence and stabilizing expectations.Simultaneously,China insists on promoting financial reform and opening up,And it’s two-way open,Measures to promote trade and investment facilitation continue to advance and continue to exert force,Create a good policy environment for the two-way and balanced flow of cross-border capital.From the market situation,The RMB exchange rate has maintained a relatively high flexibility.In addition,The two-in-one management framework of “macro-prudential and micro-supervision” in the foreign exchange market is constantly improving.”Looking to the future,With the support of domestic economic, policy, market and other factors,China’s foreign exchange market has conditions to continue its steady development.”