The main data of foreign exchange revenue and expenditure for the first quarter disclosed by the State Administration of Foreign Exchange on April 22 is commendable, reflecting the strong resilience of China's foreign economic development. Net inflow increased by 1.2 times year-on-year. Data shows that in the first quarter, the net inflow of cross-border funds from non bank sectors of enterprises and individuals was 51.7 billion US dollars, which is a higher level than the same period in history. Among them, the net inflow of cross-border funds under goods trade was 206.3 billion US dollars, a year-on-year increase of 1.2 times. The main channels for cross-border capital flow in our country are stable and orderly Li Bin, Deputy Director and spokesperson of the State Administration of Foreign Exchange, said that the net inflow of goods trade funds increased rapidly in the first quarter, and China's foreign trade has shown strong resilience in overcoming external pressures. In recent years, Chinese foreign trade enterprises have actively explored diversified markets and steadily promoted regional economic and trade cooperation. China's import and export scale has exceeded 10 trillion yuan for eight consecutive quarters, achieving growth in exports to more than 170 countries and regions. The enhanced resilience of China's foreign trade will help maintain a basic balance of international payments. Amid increasing external uncertainty, the certainty of China's own economic development has attracted the attention of global investors, with a year-on-year increase of 84% in net holdings. Li Bin stated that from February to March, foreign investors increased their net holdings of domestic bonds by 26.9 billion US dollars, a year-on-year increase of 84%. On the basis of the first quarter, foreign investors net purchased 33.2 billion US dollars of domestic bonds from April 1st to 18th alone. It can be seen that under the promotion of policies and measures such as steadily expanding the opening of financial markets and continuously expanding cross-border investment and financing channels in China, the diversified asset allocation function of the RMB continues to be highlighted, and the attractiveness of the domestic securities market to many international medium - and long-term investors continues to increase. The elasticity of the RMB exchange rate continues to strengthen. As of April 21, the domestic RMB spot exchange rate against the US dollar (CNY) was 7.288, an appreciation of 0.1% from the end of 2024. The two-way fluctuation of the RMB exchange rate is a normal market change and also reflects the supporting role of the economic fundamentals in the exchange rate Li Bin said. Foreign trade enterprises actively use foreign exchange derivatives to manage exchange rate risks and use cross-border RMB settlements to reduce currency mismatch risks. Data shows that in the first quarter of 2025, the proportion of RMB cross-border income and expenditure under goods trade and the foreign exchange hedging ratio of enterprises have increased compared to 2024. The balance of international payments, rational and orderly foreign exchange markets, and stable cross-border capital flows ultimately all rely on the strong support of the Chinese economy. Li Bin said that although the external environment is unstable and uncertain factors are increasing, China is accelerating the implementation of more proactive macro policies, making efforts to promote the implementation and effectiveness of various policies as soon as possible. "With many economic advantages, strong resilience, and great potential, it will continue to support the stable operation of the foreign exchange market. (New Society)