January Cross Border Capital Flows Stable - SAFE Deputy Director

China's cross-border capital flows were stable in January, and the supply and demand of foreign exchange inside and outside the country was balanced, according to Wang Chunying, deputy director of the State Administration of Foreign Exchange. Wang, speaking to reporters, noted overseas investors had bought a net USD27.7 billion of domestic stocks, setting a record high for a single month, as foreign financial firms returned to China following the end of the Covid-zero policy. The foundation for maintaining stable cross-border capital flows is solid, and the spill-over effects from worldwide monetary tightening have eased.