Regulator expects China’s FX market to be stable and balanced in 2022

Wang Chunying, spokesperson for the State Administration of Foreign Exchange, speaks during a press conference in Beijing, China, January 21, 2022. /CFP

Wang Chunying, spokesperson for the State Administration of Foreign Exchange, speaks during a press conference in Beijing, China, January 21, 2022. /CFP

China’s foreign exchange market is expected to achieve generally stable and more balanced development in 2022, Wang Chunying, a spokesperson for the State Administration of Foreign Exchange (SAFE), said at a press conference on Friday.

As the global economy gradually recovers from the COVID-19 pandemic, economies will normalize fiscal and monetary policies, which will lead to the return to normal of international trade and investment and help stabilize cross-border capital flows from China, Wang said.

Wang also said that the country’s efforts in all aspects will keep the economy within a reasonable range and the financial market will maintain a two-way opening with steady progress, which will create a political environment conducive to a stable flow and balance of cross-border funds.

China’s current account surplus-to-GDP ratio for 2021 has been estimated at less than 2 percent, which is within an internationally recognized reasonable range and indicates a reasonable scale of surplus, Wang said. .

Comments are closed.