Foreign exchange settlement by Chinese banks tops 3.7 trillion yuan in Jan-March

The foreign exchange settlement by Chinese banks reached 3,796.5 billion yuan in the first three months of this year, according to the State Administration of Foreign Exchange (SAFE) on Monday.

As shown in the statistics of the SAFE, in March 2025, the amount of foreign exchange settlement and sales by banks was 1,360.1 billion yuan and 1,374.2 billion yuan, respectively. In the first three months, the accumulative amount of foreign exchange settlement and sales by banks was 3,796.5 billion and 4,210.0 billion yuan, respectively.

In the U.S. dollar terms, in March 2025, the amount of foreign exchange settlement and sales by banks was 189.6 billion U.S. dollars and 191.6 billion U.S. dollars, respectively. In the first three months, the accumulative amount of foreign exchange settlement and sales by banks was 529.0 billion U.S. dollars and 586.6 billion U.S. dollars, respectively.

In March 2025, the amount of cross-border receipts and payments by non-banking sectors was 4,964.3 billion yuan and 4,611.4 billion yuan, respectively. In the first three months, the accumulative amount of cross-border receipts and payments by non-banking sectors was 13,541.8 billion yuan and 13,171.3 billion yuan, respectively.

In the U.S. dollar terms, in March 2025, the amount of cross-border receipts and payments by non-banking sectors was 692.0 billion U.S. dollars and 642.8 billion U.S. dollars, respectively. In the first three months, the accumulative amount of cross-border receipts and payments by non-banking sectors was 1,887.1 billion U.S. dollars and 1,835.4 billion U.S. dollars, respectively.

Foreign exchange settlement by Chinese banks tops 3.7 trillion yuan in Jan-March

The U.S. State Department announced Wednesday that it is pausing immigrant visa processing from 75 countries.

The measure will apply to "countries whose migrants take welfare from the American people at unacceptable rates. The freeze will remain active until the U.S. can ensure that new immigrants will not extract wealth from the American people," the department said on X.

The pause impacts countries including Somalia, Haiti, Iran and Eritrea, "whose immigrants often become public charges on the United States upon arrival," said the State Department.

Earlier on Wednesday, the department announced in a memo that it would suspend visa processing for 75 countries, including Somalia, Russia, Afghanistan, Brazil, Iran, Iraq, Egypt, Nigeria, Thailand and Yemen, according to a Fox News report.

The pause will begin Jan. 21 and will continue indefinitely until the department conducts a reassessment of visa processing, the report said. The move came after the White House announced on Tuesday that it is ending temporary protected status for Somali immigrants amid fraud allegations in Minnesota.

On Monday, the State Department announced on social media that it had revoked over 100,000 visas since U.S. President Donald Trump took office nearly a year ago.

In November 2025, Trump announced his intention to permanently suspend immigration from what he described as "Third World countries", following the death of a National Guard member after being shot near the White House by an Afghan national.

U.S. freezes immigrant visa processing from 75 countries