State Administration for Foreign Exchange: In May, the overall balance of the domestic and foreign exchange supply and demand, with a continued net inflow of cross-border funds.

Li Bin, deputy director of the State Administration of Foreign Exchange and spokesperson, answered questions from reporters about the foreign exchange market situation in May 2025. Li Bin stated that in May, the overall supply and demand of foreign exchange in the domestic market remained balanced, and the foreign exchange market operated stably. Firstly, cross-border funds continued to flow in. In May, non-bank entities such as enterprises and individuals saw a net inflow of cross-border funds totaling 33 billion US dollars. Among them, the net inflow of funds from goods trade remained at a high level, foreign investment in domestic stocks increased further from the previous month, and the overall net outflow of funds from services trade, foreign investment enterprises' dividends, direct foreign investment, etc., remained stable. Secondly, market expectations were stable. In May, the balance of foreign exchange purchases and sales shifted to a surplus. The willingness of enterprises and individuals to sell foreign exchange remained stable, while the demand for foreign exchange purchases decreased, and market transactions were rational and orderly.