China's forex market sustains stable run, trend in line with expectations

中国外汇市场保持稳定运行，走势符合预期

BEIJING, Aug. 18 (Xinhua) -- China's foreign exchange market sustained a stable run in July, with the overall trend in line with market expectations, experts said on Tuesday when commenting on July forex data.

新华社北京 8 月 18 日电 专家 18 日在点评 7 月份外汇数据时表示，7 月份中国外汇市场平稳运行，总体走势符合市场预期。

According to the State Administration of Foreign Exchange (SAFE), banks' forex settlement reached 266.3 billion U.S. dollars, while sales stood at 248 billion dollars in July, yielding a surplus of 18.3 billion dollars. In the first seven months of 2026, cumulative settlement totaled 1,831.6 billion dollars against sales of 1,542.2 billion dollars, posting a surplus of 289.4 billion dollars.

国家外汇管理局数据显示，7 月份银行结汇 2663 亿美元，售汇 2480 亿美元，结售汇顺差 183 亿美元。2026 年前 7 个月，银行累计结汇 18316 亿美元，售汇 15422 亿美元，结售汇顺差 2894 亿美元。

The balanced supply-demand picture was underpinned by steady expansion in cross-border transactions. Cross-border receipts and payments by non-bank institutions, including enterprises and individuals, totaled 1.7 trillion dollars in July, surging 20 percent year on year, with a net capital inflow of 59.8 billion dollars. The country's forex market trading volume also climbed 8 percent from a year earlier to 4.3 trillion dollars, remaining at a high level.

跨境交易规模稳步扩大，支撑外汇市场供求格局总体平衡。7 月份，企业、个人等非银行部门跨境收支合计 1.7 万亿美元，同比增长 20%，跨境资金净流入 598 亿美元。全国外汇市场交易量同比上升 8%，达 4.3 万亿美元，持续处于高位。

Li Bin, deputy head and spokesperson of SAFE, said that since July, despite a complex and volatile external environment, heightened geopolitical uncertainties and continued fluctuations in international financial markets, China's forex market has remained stable with steady growth in cross-border receipts and payments.

国家外汇管理局副局长、新闻发言人李斌表示，7 月以来，外部环境复杂多变，地缘政治风险有所上升，国际金融市场持续震荡，但我国外汇市场运行稳健，跨境收支保持稳步增长。

Market expectations were generally stable and foreign exchange transactions were rational and orderly, Li added, noting that net inflows under goods trade stayed high, while net outflows under services trade and profit repatriation by foreign-invested enterprises were stable, contributing to the overall balance.

李斌称，市场预期总体平稳，外汇交易理性有序；货物贸易项下净流入维持高位，服务贸易净流出、外商投资企业利润汇出规模保持稳定，共同支撑国际收支总体平衡。

Zhao Qingming, a specialist in international finance, said the bank settlement and sales surplus in July was in line with market expectations, with no abnormal one-sided fluctuations observed.

国际金融专家赵庆明表示，7 月银行结售汇顺差符合市场预期，并未出现异常单边波动。

"On the one hand, China's foreign trade has long demonstrated strong resilience, with a sustained surplus under goods trade providing stable supply to the domestic forex market and offering fundamental support for the settlement and sales surplus," Zhao said.

“一方面，我国外贸韧性长期凸显，货物贸易持续顺差，为国内外汇市场提供稳定供给，为结售汇顺差形成基本面支撑。” 赵庆明说。

"On the other hand, the renminbi exchange rate has continued to fluctuate in both directions while remaining generally stable. Market entities have generally adopted behavioral patterns of early settlement, delayed purchase of foreign exchange and postponed external payments, which helps maintain a balanced supply-demand dynamic in the forex market," Zhao added.

“另一方面，人民币汇率总体平稳，同时延续双向波动。市场主体普遍呈现提前结汇、延后购汇、推迟对外付款的操作行为，有助于外汇市场供求维持均衡态势。” 赵庆明补充道。

Zhao said the current forex market supply and demand are in a broadly balanced state, and while the renminbi exchange rate is experiencing two-way fluctuations, the amplitude is moderate with prominent stability characteristics.

赵庆明指出，当前外汇市场供求大体平衡。人民币汇率虽双向波动，但波动幅度适度，稳定性特征较为突出。

Going forward, the forex market is expected to maintain a stable and orderly operating state, Zhao added.

展望后市，外汇市场有望继续保持平稳有序运行。