A[The People's Bank of China holds a symposium for foreign-funded financial institutions] On September 21, the People's Bank of China held a symposium for foreign-funded financial institutions to listen to the opinions and suggestions of foreign-funded financial institutions and study related work to further optimize the business environment and promote high-level opening up of the financial industry. Pan Gongsheng, Governor of the People's Bank of China, attended the meeting and delivered a speech. Xuan Changneng, deputy governor of the People's Bank of China, presided over the meeting. Zou Lan, deputy governor of the People's Bank of China, and Xu Zhibin and Li Bin, deputy directors of the State Administration of Foreign Exchange, attended the meeting.
At the symposium, Pan Gongsheng introduced China's current economic and financial situation and the implementation of monetary policy, listened to opinions and suggestions, and exchanged responses to issues of concern to various institutions. Pan Gongsheng said that China's economic performance is generally stable and improving, the structure continues to be optimized, and high-quality development continues to make new progress. The People's Bank of China will conscientiously implement the decisions and arrangements of the Party Central Committee and the State Council, implement appropriately loose monetary policies, and create a good monetary and financial environment for stable economic growth and smooth operation of the financial market. Continue to promote high-level financial opening up, continue to improve policy supply, steadily expand the two-way opening of the financial market, continuously optimize cross-border payment services, and make the international use of RMB more convenient. Various foreign financial institutions believe that since this year, the People's Bank of China has made positive progress in a series of measures such as deepening the reform and opening up of the financial industry, optimizing the business environment, and facilitating the international use of RMB. It is hoped that relevant policies will continue to be optimized and communication with the market will be strengthened.
The heads of 15 foreign financial institutions, including Bank of America, JPMorgan Chase, HSBC, Standard Chartered Bank, Deutsche Bank, DBS Bank, First Abu Dhabi Bank, Bank Mandiri Indonesia, BNP Paribas, Morgan Stanley, Goldman Sachs, UBS Securities, Manulife Financial, Bowen Asset Management, and Canadian Pension Fund attended the meeting and spoke. Responsible comrades from relevant departments and bureaus and affiliated units of the People's Bank of China and the State Administration of Foreign Exchange attended the symposium. B[Foreign Exchange Administration: Banks’ foreign exchange settlement and sales surplus in August was US$48.5 billion, mainly due to the net inflow of foreign exchange funds] September 15th, the State Administration of Foreign Exchange recently announced data on bank foreign exchange settlement and sales and bank foreign-related receipts and payments on behalf of customers in August 2026. Li Bin, deputy director and spokesperson of the State Administration of Foreign Exchange, answered reporters’ questions on the foreign exchange market situation in August 2026.
Q: What is the situation of China’s foreign exchange market in August?
Answer: Since August, the international financial market has continued to fluctuate, and the bond and foreign exchange markets of some economies have become more volatile. China's foreign exchange market has been operating steadily. See specifically:
First, the scale of cross-border receipts and payments continues to grow, and cross-border funds maintain a net inflow. In August, the cross-border receipts and payments of non-banking sectors such as enterprises and individuals totaled US$1.5 trillion, continuing the rapid growth trend this year. The net inflow of cross-border funds was US$62.4 billion, a slight increase of 4% month-on-month. From the main channels: First, the net inflow of funds under trade in goods is relatively high. Second, the increase in studying abroad and traveling during the summer has pushed the service trade deficit to increase by 6% month-on-month. Third, dividends and dividends paid by foreign-funded enterprises narrowed by 23% month-on-month, falling from seasonal highs. Fourth, cross-border two-way direct investment is basically stable.
Second, the trading volume in the foreign exchange market has increased steadily, and market expectations are generally stable. In August, the domestic foreign exchange market transaction volume was US$3.9 trillion, maintaining a relatively high scale. Banks' foreign exchange settlement and sales surplus was US$48.5 billion, mainly due to the net inflow of foreign exchange funds. The settlement rate of corporate foreign exchange income that month was 61.5%, 2.7 percentage points lower than the average level in the first seven months of this year. Enterprises' willingness to settle and hold foreign exchange is relatively stable, and market expectations are generally stable. B[Li Bin of the State Administration of Foreign Exchange: Continue to vigorously support the development of new trade formats such as cross-border e-commerce and provide more precise policy support for key areas and key industries] On September 10, at a press conference held by the State Council Information Office, Li Bin, spokesperson and deputy director of the State Administration of Foreign Exchange, stated that we will persist in coordinating development and security and improve the level of openness of capital projects. On the one hand, we will use the reform of the foreign exchange exhibition industry as a starting point to promote facilitation policies from focusing on business management to paying more attention to subject convenience, continue to vigorously support the development of new trade formats such as cross-border e-commerce, and provide more precise policy support for key areas and key industries. On the other hand, we should coordinate the opening up of capital accounts and the internationalization of the RMB, and promote the deepening of capital account opening from channel opening to institutional opening, from business convenience to subject convenience, from foreign exchange management to domestic and foreign currency coordination, and from exchange links to full-chain management services. (Reporter Li Ting) B[Foreign Exchange Bureau: Continue to expand facilitation policies for cross-border financing of technology companies] On September 10, at a press conference of the State Council Information Office, Li Bin, spokesperson and deputy director of the State Administration of Foreign Exchange, said that the next step will be to improve the level of capital account opening, coordinate capital account opening and RMB internationalization, and promote the deepening of capital account opening from channel opening to institutional opening, from business convenience to subject convenience, and from foreign exchange management to deepening the coordination of local and foreign currencies. In the field of direct investment, new cross-border investment facilitation measures will be introduced one after another based on the demands of enterprises; in the field of cross-border financing, we will continue to expand facilitation policies for cross-border financing of technology companies and expand the scope of green foreign debt foreign exchange facilitation pilot policies; in the field of cross-border securities, we will promote the opening rules of the securities trading market to be in line with basic international standards, promote the integration of open channels, system optimization and rule unification, and enhance the two-way openness of the financial market. B[Li Bin of the State Administration of Foreign Exchange: During the "15th Five-Year Plan" period, China's foreign trade export and import development will be more coordinated] September 10th, at a press conference of the State Council Information Office, State Administration of Foreign Exchange spokesperson and deputy director Li Bin said that during the "15th Five-Year Plan" period, China's foreign trade export and import development will be more coordinated, foreign investment and investment in China will further expand, and the international balance of payments is expected to maintain a basic balance. In the future, the State Administration of Foreign Exchange will better coordinate development and security, continue to promote the facilitation of cross-border trade and investment, enhance the momentum of foreign-related economic development, promote the steady increase in the scale of the international balance of payments, and continue to optimize the structure. We will continue to improve macro-prudential management, strengthen monitoring and early warning of cross-border capital flows, continue to enhance the vitality and resilience of the foreign exchange market, and properly respond to external shock risks. B[Li Bin of the State Administration of Foreign Exchange: During the "15th Five-Year Plan" period, China's international balance of payments is expected to show an increase in scale, structural optimization, and overall balance] On September 10, at a press conference of the State Council Information Office, Li Bin, spokesman and deputy director of the State Administration of Foreign Exchange, said that during the "15th Five-Year Plan" period, the general trend of world multipolarization and economic globalization will not change. At the same time, protectionism, geopolitical conflicts, international financial market fluctuations, etc. will also bring challenges to economic operations. Taking a comprehensive view of the internal and external environment, during the "15th Five-Year Plan" period, China's international balance of payments is expected to show a development trend of increasing scale, optimizing structure, and overall balance. B[Foreign Exchange Administration: During the "15th Five-Year Plan" period, the State Administration of Foreign Exchange will vigorously promote the reform of the bank's foreign exchange industry] On September 10, at a press conference of the State Council Information Office, Li Bin, spokesman and deputy director of the State Administration of Foreign Exchange, said that during the "15th Five-Year Plan" period, the State Administration of Foreign Exchange will comprehensively and in-depth promote the reform of foreign exchange management and continue to build a more convenient, more open, safer, and smarter foreign exchange management system and mechanism. Among them, the core of more convenience is to make it more efficient and convenient for compliant and honest business entities to handle foreign exchange business. We will vigorously promote the reform of the bank's foreign exchange industry and continuously improve the foreign exchange facilitation policy system of "the more honest, the more convenient" and "compliance goes first". B[Important press conference related to the construction of a financial power will be held at 3 pm today] September 10th, the State Council Information Office will hold a series of press conferences with the theme of "Starting from the 15th Five-Year Plan" at 3 pm today (10th). Lu Lei, Vice Governor of the People's Bank of China, Cong Lin, Deputy Director of the State Administration of Financial Supervision, Li Chao, Vice Chairman of the China Securities Regulatory Commission, and Li Bin, Spokesperson and Deputy Director of the State Administration of Foreign Exchange, will introduce the implementation of the "15th Five-Year Plan" in the financial sector and promote the construction of a financial power, and answer reporters' questions. B[NIO Li Bin: The automobile industry has entered the most brutal stage of the finals and the profits of the entire industry continue to be under pressure] On September 4th, NIO Chairman and CEO Li Bin said in an interview that the automobile industry has now entered the middle and back end of the marathon and the most cruel stage of the finals. The profits of the entire industry continue to be under pressure, with sales profit margins and manufacturing profit margins at low levels. In the second quarter, the cost of bicycles increased by 14,000 yuan compared with the end of last year, which is equivalent to an additional cost pressure of 1.5 billion yuan in one quarter. Li Bin revealed that in the first quarter, there was still some inventory buffer cost from last year, and in the second quarter, cost pressure has fully emerged. It is expected that the cost of a bicycle will continue to rise by 2,000 to 3,000 yuan in the second half of the year, a total increase of 16,000 to 17,000 yuan compared with the end of last year. Among them, the price increase of memory contributed about 10,000 yuan, the price increase of batteries contributed 3,000 to 4,000 yuan, and the rest came from the price increase of bulk materials. Car companies have little room for negotiation on this part of the cost. (Mijing.com)
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