China’s foreign exchange market saw transactions worth $30.27 trillion in the first three quarters of this year, marking a 10.1 percent increase compared to the same period last year, according to official data released on Tuesday.
The State Administration of Foreign Exchange (SAFE) reported that cross-border capital flows in China have remained balanced since the beginning of the year. The foreign exchange market demonstrated strong resilience amid global economic uncertainties.
“The sustained growth in forex transactions reflects the robust stability of China’s economy and its appeal to global investors,” a spokesperson from the SAFE said during a press conference.
Market analysts suggest that the balanced capital flows and increased forex transactions are indicative of confidence in China’s economic policies and its ongoing recovery from global economic challenges.
The rise in forex market activity is expected to continue as China implements measures to further open up its financial markets and foster international trade and investment.
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China's forex market transactions up 10.1% in first three quarters
cgtn.com
