CHINA SAFE:

CROSS-BORDER CAPITAL SHIFTED TO INFLOWS IN THE FIRST THREE QUARTERS OF THIS YEAR.
FX SETTLEMENT RATIO SEES ORDERLY REBOUND RECENTLY, FX SALES RATIO EXPERIENCES STEADY DECLINE.
FOREIGN OWNERSHIP OF CHINESE YUAN BONDS SURPASSES $640 BILLION, REACHING RECORD HIGH.

Key points from the SAFE press conference
Foreign exchange trading remains rational and orderly, with a trading volume of $30.27 trillion in the domestic yuan foreign exchange market for the first three quarters, a 10.1% y/y increase.

Spot and derivatives trading volumes reached $10.18 trillion and $20.09 trillion, respectively, with derivatives accounting for 66.4% of the market, up by 3.7 percentage points from last year.

In the first three quarters of 2024, #China's foreign exchange income reached 11.91 trillion yuan, with sales at 12.78 trillion yuan, resulting in a deficit of 864.6 billion yuan.

Cross-border capital has shown a recovery with a net inflow, marked by slight overall surpluses in banks' foreign exchange activities throughout the quarters.

The balance of foreign exchange settlement and sales is trending towards basic equilibrium, indicating a stabilization in the foreign exchange market.
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CHINA SAFE: CHINA'S FOREIGN EXCHANGE RESERVES HAVE INCREASED TO $33,164 BILLION BY THE END OF SEPTEMBER, UP $78.4 BILLION FROM THE END OF 2023.
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CHINA SAFE: AS OF THIS YEAR, THE PROPORTION OF YUAN IN CROSS-BORDER TRANSACTIONS HAS HIT 30%, AT HISTORICALLY HIGH LEVELS.
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CHINA SAFE: IN THE FIRST THREE QUARTERS OF THIS YEAR, THE SCALE OF ENTERPRISES USING FOREIGN EXCHANGE DERIVATIVES TO MANAGE EXCHANGE RATE RISKS EXCEEDED $1.1 TRILLION.