China's Cross-Border Transactions Hit $1.6 Trillion in April as Settlement Rate Edges Down Month-on-Month

According to the State Administration of Foreign Exchange, cross-border transactions by enterprises and individuals reached $1.6 trillion in April 2026, up 15% year-on-year. The country’s foreign exchange market saw month-on-month declines in corporate settlement intentions and external settlement rates, reflecting stable market expectations. Cross-border capital inflows averaged $14.9 billion monthly over March and April, while average monthly net settlements by banks reached $28 billion. The foreign exchange market recorded $3.7 trillion in transaction volume, maintaining elevated activity levels.