2019年CRI China's cross-border capital flow remains stable in Q1: spokesperson

 

Official figures show that China's cross-border capital flow remained stable in the first quarter of the year, with foreign exchange reserve showing growth.

According to the State Administration of Foreign Exchange, China's commercial banks bought around 436 billion US dollars of foreign currencies and sold 445 billion dollars in the first quarter of this year, resulting in net forex sales of 9.1 billion dollars.

By the end of March, China's foreign exchange reserves stood at 3.1 trillion U.S. dollars, up 26 billion dollars from the end of last year.

Foreign exchange administration spokeswoman Wang Chunying said the figures show a stable trend in China's foreign exchange market.

"Growth in the global economy and international trade slowed in the first quarter of 2019. In the meantime, China's economy continued to perform within an appropriate range, maintaining overall stability and making progress. The RMB exchange rate and China's cross-border capital flows remained stable. The supply and demand in the foreign exchange market is basically balanced," Wang said.

Looking to the future, the spokeswoman said this stability in foreign exchange flows is set to continue, in light of the domestic and international environments.

"First, there is sound domestic economic development. Second, the comprehensive opening-up polices provide a solid foundation for the balanced development of cross-border capital flows and investment. Third, the economic and trade consultations¹ between China and the United States have made substantial progress and played an important role in stabilizing² market sentiment," Wang said.

The spokeswoman added that China's forex regulator will continue to facilitate cross-border trade and investment, and develop an open and competitive foreign exchange market.

"We will further support innovation in trade patterns and optimize³ foreign exchange management policies. We will make it easier for foreign investment enterprises to exchange funds, and support qualified⁴ and capable domestic enterprises to make outbound investments. Also, in pushing forward the opening up of capital projects, we will reform the institutional investor⁵ system, simplify access management rules, and expand the scope of investment. We will standardize⁶ the management of RMB bonds issued by overseas institutions in China, and promote the development of the panda bond market in an orderly manner," Wang added.

The government has also stated to reform and simplify the management of cross-border capital for multinational⁷ companies. China's pilot free trade zones and the Guangdong-Hong Kong-Macao Greater Bay area, as well as Xiongan New Area, are expected to pilot the reform policies.

1 consultations   

n.磋商（会议）( consultation的名词复数 )；商讨会；协商会；查找

参考例句：

• Consultations can be arranged at other times by appointment. 磋商可以通过预约安排在其他时间。 来自《现代汉英综合大词典》
• Consultations are under way. 正在进行磋商。 来自《现代汉英综合大词典》

2 stabilizing   

n.稳定化处理[退火]v.（使）稳定， （使）稳固( stabilize的现在分词 )

参考例句：

• The disulfide bridges might then be viewed primarily as stabilizing components. 二硫桥可以被看作是初级的稳定因素。 来自辞典例句
• These stabilizing design changes are usually not desirable for steady-state operation. 这些增加稳定性的设计改变通常不太符合稳态工作的要求。 来自辞典例句

3 optimize   

v.使优化 [=optimise]

参考例句：

• We should optimize the composition of the Standing Committees.优化人大常委会组成人员的结构。
• We should optimize our import mix and focus on bringing in advanced technology and key equipment.优化进口结构，着重引进先进技术和关键设备。

4 qualified   

adj.合格的，有资格的，胜任的，有限制的

参考例句：

• He is qualified as a complete man of letters.他有资格当真正的文学家。
• We must note that we still lack qualified specialists.我们必须看到我们还缺乏有资质的专家。

5 investor   

n.投资者，投资人

参考例句：

• My nephew is a cautious investor.我侄子是个小心谨慎的投资者。
• The investor believes that his investment will pay off handsomely soon.这个投资者相信他的投资不久会有相当大的收益。

6 standardize   

v.使符合标准，使标准化

参考例句：

• We will extend and standardize legal services and provide effective legal aid.拓展和规范法律服务，积极开展法律援助。
• There is a drive both to standardise components and to reduce the number of models on offer.正在为实现零部件标准化和减少推出的型号数量而努力。

7 multinational   

adj.多国的，多种国籍的；n.多国籍公司，跨国公司

参考例句：

• The firm was taken over by a multinational consulting firm.这家公司被一个跨国咨询公司收购。
• He analyzed the relationship between multinational corporations and under-developed countries.他分析了跨国公司和不发达国家之间的关系。