China's forex market operated steadily in January, with net inflows in cross-border capital, official data showed on Friday.

Foreign exchange settlements by banks totaled $286.3 billion last month, and sales came in at $206.5 billion, according to the State Administration of Foreign Exchange.

The surplus was down 20 percent from December 2025, said Li Bin, a spokesperson for the administration, attributing the moderation to seasonal factors.

In January, cross-border receipts and payments by non-banking sectors totaled $781.6 billion and $699.5 billion, the administration said.

By major channel, net capital inflows under trade in goods dropped 27 percent month on month in January, while net outflows under trade in services increased by 23 percent. Net inflows under securities investment remained stable, according to Li.

Overall, China's forex market saw active trading and stable expectations, with cross-border capital flows becoming more stable, Li said.

(Cover via VCG)