State Administration of Foreign Exchange: China's balance of payments is gradually forming a pattern of autonomous equilibrium.

On October 19, Zhu Hexin, Deputy Governor of the People's Bank of China and Administrator of the State Administration of Foreign Exchange, said at the opening ceremony of the 2026 Financial Street Forum Annual Meeting that market entities are increasingly becoming an important force connecting the domestic and international dual circulation. From the perspective of flows, China's balance of payments has gradually formed a pattern of autonomous equilibrium, with funds generated by current account surpluses increasingly being deployed through outbound investment and asset allocation by entities such as enterprises and banks. From the perspective of stocks, the share of outbound financial assets held by enterprises, banks and other entities in China's total external financial assets has risen from about 30% at the end of 2010 to nearly 70% at the end of 2025.