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.
China's forex market remains stable in February
A Vietnamese naval fleet arrived in Fangchenggang of south China's Guangxi Zhuang Autonomous Region on Monday, marking the start of the 10th border defense friendship exchange between China and Vietnam.
The event is set to take place in designated areas and ports in Guangxi of China and Vietnam's Quang Ninh province, as well as waters in the Beibu Gulf during this week.
At 09:00 on Monday, Vietnam's frigates Tran Hung Dao and Ly Thai slowly entered a port in Fangchenggang City. The Vietnamese officers and soldiers received warm welcome from Chinese counterparts of frigates Hengyang and Enshi.
After the welcome ceremony, the Vietnamese fleet commander boarded the Hengyang frigate for a tour, where the two sides held discussions and exchanged souvenirs.
In the coming days, the two sides will organize naval vessel visits, cultural and sports exchanges, and will also form a fleet for the 40th China-Vietnam joint patrols and training exercises in the Beibu Gulf.
They will also hold medical consultations and cultural events with civilians in the border areas.
The China-Vietnam border defense friendship exchange, first held in 2014, is a concrete measure to implement the important consensus reached by leaders of the two parties and countries.
The event will further enhance the traditional friendship between the two countries and their armed forces, strengthen exchanges and mutual trust among personnel at all levels, deepen practical cooperation, and improve their joint ability to safeguard border and related maritime security.
China, Vietnam start 10th border defense friendship exchange
