Q: How do you evaluate the operation of China's foreign exchange market since November? A: Since November, international financial markets have continued to experience high volatility. The US dollar index has generally weakened, and major non-US currencies have performed strongly. China's foreign exchange market continues to operate smoothly. First, supply and demand in the foreign exchange market continue to be in basic balance. In November, the scale of bank settlement and foreign exchange sales remained stable, with a foreign exchange settlement surplus of 15.7 billion US dollars, which is basically the same as in October. Second, cross-border payments remain active. In November, the total cross-border revenue and expenditure of non-banking sectors such as enterprises and individuals was 1.3 trillion US dollars, up 8% from the previous month. The cross-border balance surplus of 17.8 billion US dollars was lower than the average level of 24 billion US dollars from September to October. By project, trade in goods is still the main channel for net capital inflows. Capital flows under trade in services, investment income, and direct investment have remained stable. Recently, capital flows under securities investment have stabilized even more. Overall, at present, China's foreign trade and foreign investment remain resilient, cross-border capital flows and foreign exchange market expectations are stable, and foreign exchange transactions are steady and orderly.

Q: How do you evaluate the operation of China's foreign exchange market since November? A: Since November, international financial markets have continued to experience high volatility. The US dollar index has generally weakened, and major non-US currencies have performed strongly. China's foreign exchange market continues to operate smoothly. First, supply and demand in the foreign exchange market continue to be in basic balance. In November, the scale of bank settlement and foreign exchange sales remained stable, with a foreign exchange settlement surplus of 15.7 billion US dollars, which is basically the same as in October. Second, cross-border payments remain active. In November, the total cross-border revenue and expenditure of non-banking sectors such as enterprises and individuals was 1.3 trillion US dollars, up 8% from the previous month. The cross-border balance surplus of 17.8 billion US dollars was lower than the average level of 24 billion US dollars from September to October. By project, trade in goods is still the main channel for net capital inflows. Capital flows under trade in services, investment income, and direct investment have remained stable. Recently, capital flows under securities investment have stabilized even more. Overall, at present, China's foreign trade and foreign investment remain resilient, cross-border capital flows and foreign exchange market expectations are stable, and foreign exchange transactions are steady and orderly.