China's forex market remains stable in February--China Econo

A staff member helps a tourist with foreign currency exchange at the exit hall of Heihe Port in Heihe, northeast China's Heilongjiang province, Jan. 30, 2024. (Xinhua/Xie Jianfei)

BEIJING, March 16 (Xinhua) -- China's foreign exchange market remained generally stable in February despite heightened geopolitical tensions and increased volatility in international financial markets, the country's forex regulator said on Monday.

The Chinese foreign exchange market recorded transactions worth 2.6 trillion U.S. dollars in February, while cross-border receipts and payments by non-banking sectors totaled 1.2 trillion dollars, according to the State Administration of Foreign Exchange.

In February, non-banking sectors recorded a net inflow of 35.6 billion dollars in cross-border capital, while banks posted a forex settlement surplus of 42.8 billion dollars, the data showed.

Overall, China's foreign-related economy is developing steadily, the foreign exchange market remains active, corporate forex settlement willingness has shown a modest decline, and demand for forex purchases is generally stable, with market expectations remaining steady, the administration said.