The State Administration of Foreign Exchange has just released the 2017 data for China's forex receipts and payments. The head of the Balance of Payments Department briefed the media. Su Yuting reports.

In 2017, the global economy showed a recovery trend, the international financial markets were running smoothly, and China's economy maintained its momentum of steady growth.

That's what Wang Chunying, Director General of the Balance of Payments Department, and also Spokeswoman of the State Administration of Foreign Exchange, said during Thursday's press conference at the State Council Information Office.

Wang said total forex settlements reached over one-point-six trillion US dollars, and forex sales concluded at one-point-seven trillion US dollars. She said the situation of cross-border capital flow in China has obviously improved in 2017, with the supply and demand in the foreign exchange market basically balanced.

WANG CHUNYING, DIRECTOR-GENERAL BALANCE OF PAYMENTS DEPT., SAFE "First, the deficit between banking settlements and payments, as well as between receipts and payments in foreign-related transactions, has shrunk. Second, the supply and demand of China's forex market is more stable."

China is encouraging companies to go global while making its foreign investment environment more law-based and internationalized. Responding to questions raised by CGTN on outward foreign direct investment, Wang Chunying said the foreign direct investment slowed down in 2017, but the pace of outward direct investment was steadier. OFDI is forecast to continue steady growth in 2018.

WANG CHUNYING, DIRECTOR-GENERAL BALANCE OF PAYMENTS DEPT., SAFE "On the one hand, we think the overseas direct investment of domestic enterprises has gradually returned to rationality, and the overall outward and direct investment has been conducted in an orderly and steady manner. On the other hand, the structure of OFDI has been optimized. The new investment in the Belt and Road countries accounted for 12 percent of the total, 3.5 percent up from that in 2016."

SU YUTING BEIJING 2018 marks the first year of fully implementing the spirit of the 19th CPC National Congress, and it also marks the 40th anniversary of reform and opening-up. Emphasizing high-quality economic growth, and advancing the supply-side structural reform, spokesperson of the state administration of foreign exchange said China will remain one of the investment destinations that are attractive to long-term capital. Su Yuting, CGTN, Beijing.