China's foreign exchange market operated steadily in April, with cross-border capital flows returning to net inflows, official data showed Monday.
Foreign exchange settlements by banks totaled 257.3 billion U.S. dollars last month, while sales came in at 217.2 billion dollars, according to the State Administration of Foreign Exchange.
In the first four months, foreign exchange settlements by banks totaled 1.0237 trillion dollars, while sales reached 844.9 billion dollars, the administration said.
China's foreign exchange market has remained generally stable despite volatility in international financial markets caused by geopolitical situations, said Li Bin, deputy head and spokesperson of the administration.
Foreign-related transactions remained active. In April, cross-border receipts and payments by enterprises, individuals and other non-banking sectors totaled 1.6 trillion dollars, up 15 percent year on year, while foreign exchange market turnover reached 3.7 trillion dollars, staying at a relatively high level, Li said.
In April, companies' willingness to settle foreign exchange was stable with a slight decline, and the settlement ratio of foreign exchange earnings edged down from the previous month, indicating that market expectations remained basically stable, Li said.
China's forex market operates steadily in April
China's Minister of Commerce Wang Wentao outlined the key priorities of the 32nd Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade Meeting, which opened on Friday in Suzhou, East China's Jiangsu province.
In an interview with CGTN ahead of the two-day meeting, Wang said free trade, digital cooperation and green economy are high on the agenda of the meeting.
"The key areas include advancing regional economic integration and the Free Trade Area of the Asia-Pacific, supporting the World Trade Organization (WTO) in strengthening digital cooperation and developing green economy. At present, the international situation is marked by intertwined turbulence and chaos, with intensified geopolitical instability. The rise of unilateralism and protectionism poses serious challenges to the international economic and trade order, disrupting global and Asia-Pacific development. Against this backdrop, all parties have higher expectations for this trade ministers' meeting, hoping that it can build consensus and deliver outcomes," Wang said.
This year marks China's third time hosting the APEC meetings and the 35th anniversary of its membership.
By 2025, China had become the largest trading partner of 13 APEC economies. Trade between China and APEC economies reached 3.7 trillion U.S. dollars, accounting for 57.8 percent of China's total foreign trade.
China has signed 24 free trade agreements or economic and trade arrangements with 31 countries and regions, including 15 APEC economies. In recent years, China has also completed upgrades of free trade agreements with APEC economies such as Singapore and Peru.
The minister said that China has always been a firm supporter and an important contributor to APEC.
"We have actively shared our vast market and development opportunities with all parties. China's door to the world will only open wider and wider. Facing the common challenges, China will continue to fulfill its responsibilities as a major country, further deepen reform, expand high-standard opening-up, and continue to provide new opportunities for the Asia-Pacific region and the world with its new achievements in Chinese modernization," the minister said.
China's Commerce Minister outlines priorities for 32nd APEC trade ministers' meeting
