China's forex situation remains steady, official says

China's foreign exchange market has the foundation and conditions to remain stable in the future, Wang Chunying, deputy head and spokeswoman of the State Administration of Foreign Exchange, said on Wednesday.

"The country's economy is picking up momentum, as the production and operations of enterprises have been accelerating due to pro-growth policies, which provides stronger footing for stable cross-border capital flows," Wang said.

"At the same time, with increasing openness in China's financial market, the investment and risk-aversion attributes of RMB assets are increasingly prominent, attracting more foreign investors to steadily invest in the domestic market," she said, adding China's foreign exchange market can better adapt to changes in the external environment.

Data from the administration showed the country's foreign exchange settlement and sales by banks were of similar scale in February.

Its cross-border receipts and payments by non-banking sectors registered a surplus of $31.4 billion (216.75 billion yuan) in the first two months of the year.

The country registered a surplus of $25.9 billion in trade in goods in February, almost flat from a year ago, while trade in services saw a deficit of $4.3 billion during the period.