Foreign Exchange Administration: The foreign exchange market maintained stable operation in the first half of 2025, demonstrating strong resilience and vitality.

Cross-border trade and investment activities are active, and the scale of cross-border income and expenses for non-bank sectors, including enterprises and individuals, has reached a new high in history. The foreign exchange market is expected to remain stable, the renminbi exchange rate remains basically stable, and cross-border funds continue to flow in. The supply and demand in the foreign exchange market are basically balanced, and the scale of foreign exchange reserves remains stable.