China's forex market remains stable in February

BEIJING -- China's foreign exchange market remained generally stable in February despite heightened geopolitical tensions and increased volatility in international financial markets, the country's forex regulator said on Monday.

The Chinese foreign exchange market recorded transactions worth $2.6 trillion in February, while cross-border receipts and payments by non-banking sectors totaled $1.2 trillion, according to the State Administration of Foreign Exchange.

In February, non-banking sectors recorded a net inflow of $35.6 billion in cross-border capital, while banks posted a forex settlement surplus of $42.8 billion, the data showed.

Overall, China's foreign-related economy is developing steadily, the foreign exchange market remains active, corporate forex settlement willingness has shown a modest decline, and demand for forex purchases is generally stable, with market expectations remaining steady, the administration said.