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国家外汇局官员:展望未来 我国经济基本面和外汇市场韧性较强

Officials from the State Administration of Foreign Exchange: Looking ahead, the fundamentals of our economy and the resilience of the Forex market are relatively strong.

Gelonghui Finance ·  Apr 10 18:31

On April 10, Glonghui reported that the Director of the International Balance of Payments Department of the State Administration of Foreign Exchange in China, Jia Ning, published an article stating that looking to the future, China's economic fundamentals and the resilience of the Forex market are strong, which allows the Forex market to maintain a basic balance under certain conditions. Firstly, China will implement more proactive macroeconomic policies, and the economic recovery in the future will provide important support for the stability of the Renminbi Exchange Rates and the smooth running of the Forex market. Secondly, the current account is expected to maintain a reasonable surplus. China's manufacturing development level is globally leading, with the value added of manufacturing rising to 30% of the global total, playing an irreplaceable role in global production supply. The trade methods and trading partners are becoming more diverse, with new growth points in foreign trade such as cross-border e-commerce, market procurement, and new energy products rapidly developing, enhancing the resilience of foreign trade to better cope with external shocks and challenges. In the context of a complex global trade environment, in recent years, enterprises have improved their ability to respond to external shocks and have become more confident. Thirdly, cross-border capital flows under the capital account are expected to become more stable. China's innovation-driven development strategy is accelerating, and foreign investment in China's Technology industry and Shareholding in Chinese Assets are increasing. Fourthly, the overall resilience of China's Forex market has strengthened, enhancing its ability to withstand external shocks. The Renminbi Exchange Rates maintain appropriate elasticity, allowing for an orderly release of pressure and promoting market self-balancing. The widespread use of Exchange Rate hedging tools and Renminbi settlement has increased the proportion of Renminbi cross-border receipts and payments in goods trade to nearly 30%, while the corporate Forex hedging ratio has risen to 27%, both at historically high levels, which helps stabilize market expectations and trading.

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