On June 15th, the State Administration of Foreign Exchange released data showing that in May, the total cross-border income and expenditure of non bank sectors such as enterprises and individuals was 1.5 trillion US dollars, a year-on-year increase of 22%.
Among them, the net inflow of cross-border funds from non bank sectors such as enterprises and individuals was 62.5 billion US dollars, with a slight increase of 1% compared to the previous year. The bank's foreign exchange surplus was 35.8 billion US dollars, a decrease of 11% compared to the previous period.
Li Bin, Deputy Director and spokesperson of the State Administration of Foreign Exchange, stated that trade in goods remains the main channel for net inflows of funds, while trade in services continues to have a deficit. Dividend payments from foreign-funded enterprises have increased seasonally, and overall foreign investment has net purchases of domestic stocks and bonds.
The foreign exchange market is expected to remain stable, "said Li Bin. In May, the exchange rate for foreign exchange income and the purchase rate for foreign exchange expenses of enterprises remained basically unchanged compared to the previous month, indicating that the willingness of various entities to settle and purchase foreign exchange is stable, and related transactions are mainly carried out in an orderly manner according to actual needs.