Abstract: This paper systematically sorted out the trends and characteristics of international capital flows in the world, devel-oped economies, developing economies and China, and found that the total amount of global capital flows tends to be stable, the FDI flow is stable and slightly fluctuates, and the net inflow of securities investment turns to net outflow. The financial balance of developed and developing economies shows an opposite trend, and the volatility of direct investment flows is also different. The flow of international capital in China fluctuates in both directions. The enlightenment brought by the trend and characteristics of international capital flow is that China should adhere to the principle of discretion and steadiness and neutral-ity, and grasp the rhythm of international capital management; the internationalization of RMB should not force the capital ac-count to be opened up too quickly; from the international and domestic levels to prevent and defuse the risk of large-scale in-ternational capital flow; strengthening financial policy coordination among countries.

Key words: International Capital Flows, Liquidity Risk, FDI, Securities Investment, Direct Investment, Advanced Economies, Developing Economies