SAFE Releases China's Balance of Payments for the Second Quarter and the First Half of 2023
The time-series data of Balance of Payments of China
In the second quarter of 2023, China's current account registered a surplus of RMB451.0billion, and the capital and financial accounts recorded a deficit of RMB353.6billion.
In the first half of 2023, China's current account registered a surplus of RMB 1008.5 billion, and the capital and financial accounts recorded a deficit of RMB875.7billion.
In SDR terms, in the second quarterof 2023, China posted a surplus of SDR48.2billion under the current account, and a deficit of SDR37.6billion under the capital and financial accounts.
In SDR terms, in first half of 2023, China posted a surplus of SDR109.0billion under the current account, and a deficit of SDR94.5billion under the capital and financial accounts.
In the US dollar terms, in the second quarter of 2023, China's current account recorded a surplus of USD64.7billion, including a surplus of USD163.3billion under trade in goods, a deficit of USD55.0billion under trade in services, a deficit of USD46.7billion under primary income,and a surplus of USD3.1 billion under secondary income. The capital and financial accounts recorded a deficit of USD50.4billion, including a deficit of USD84 million under the capital account, a deficit of USD 34.1 billion under the financial account (excluding reserve assets), and an increase of USD16.3billion under reserves assets.
In the US dollar terms,in the first half of 2023, China's current account recorded asurplusof USD146.3billion, including a surplus of USD 293.2 billion under trade in goods, a deficit of USD102.2billion under trade in services, a deficit of USD53.3billion under primary income,and a surplus of USD8.5billion under secondary income. The capital and financial accounts recorded adeficit of USD126.7billion, including a deficit of USD 77million under the capital account, adeficit of USD84.9billion under the financial account (excluding reserve assets), and an increase of USD41.7billion under reserves assets.
In addition, to facilitate understanding of China's Balance of Payments and International Investment Position among all users, the BOP Analysis Team of SAFE released China's Balance of Payments Report for the First Half of 2023(in Chinese).
Abridged Balance of Paymentsof China, Second Quarter of 2023
Item | Line No. | RMB 100 million | USD 100 million | SDR 100 million |
1. Current Account | 1 | 4510 | 647 | 482 |
Credit | 2 | 65929 | 9397 | 7007 |
Debit | 3 | -61418 | -8750 | -6525 |
1. A Goods and Services | 4 | 7602 | 1083 | 807 |
Credit | 5 | 60672 | 8649 | 6449 |
Debit | 6 | -53070 | -7566 | -5641 |
1.A.a Goods | 7 | 11464 | 1633 | 1218 |
Credit | 8 | 55228 | 7873 | 5870 |
Debit | 9 | -43764 | -6240 | -4652 |
1.A.b Services | 10 | -3862 | -550 | -410 |
Credit | 11 | 5443 | 776 | 579 |
Debit | 12 | -9305 | -1326 | -989 |
1.B Primary Income | 13 | -3311 | -467 | -349 |
Credit | 14 | 4625 | 658 | 491 |
Debit | 15 | -7936 | -1125 | -840 |
1.C Secondary Income | 16 | 219 | 31 | 23 |
Credit | 17 | 632 | 90 | 67 |
Debit | 18 | -413 | -59 | -44 |
2. Capital and Financial Account | 19 | -3536 | -504 | -376 |
2.1 Capital Account | 20 | -6 | -1 | -1 |
Credit | 21 | 2 | 0 | 0 |
Debit | 22 | -8 | -1 | -1 |
2.2 Financial Account | 23 | -3530 | -503 | -375 |
Assets | 24 | -2447 | -340 | -255 |
Liabilities | 25 | -1083 | -164 | -120 |
2.2.1 Financial Account Excluding Reserve Assets | 26 | -2390 | -341 | -254 |
2.2.1.1 Direct Investment | 27 | -2275 | -322 | -241 |
Assets | 28 | -2736 | -389 | -291 |
Liabilities | 29 | 461 | 67 | 50 |
2.2.1.2 Portfolio Investment | 30 | -363 | -59 | -43 |
Assets | 31 | -983 | -143 | -106 |
Liabilities | 32 | 620 | 84 | 63 |
2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options | 33 | -310 | -44 | -33 |
Assets | 34 | -230 | -32 | -24 |
Liabilities | 35 | -80 | -11 | -8 |
2.2.1.4 Other Investment | 36 | 557 | 84 | 62 |
Assets | 37 | 2642 | 387 | 287 |
Liabilities | 38 | -2085 | -303 | -225 |
2.2.2 Reserve Assets | 39 | -1139 | -163 | -121 |
3. Net Errors and Omissions | 40 | -974 | -143 | -106 |
Notes:
1.The statement is compiled according to BPM6. Reserve assets are included in capital and financial accounts.
2."Credit" is presented as positive value while "debit" as negative value, and thebalanceis the sum of the "Credit" and the "Debit". All items herein refer tobalance, unless marked with "Credit" or "Debit".
3.The RMB denominated quarterly BOP data is converted from the USD denominated BOP data, usingperiod averagecentral parityrate of RMB against USD. The quarterly accumulated RMB denominated BOP data is derived from the sum total of the RMB denominated data for the quarters.
4.The SDR denominated quarterly BOP data is converted from the USD denominated BOPdata, usingperiod average exchange rate of SDR against USD. The quarterly accumulated SDRdenominated BOP data is derived from the sum total of the SDR denominated data for the quarters.
5.This statement employs rounded-off numbers.
6.For detailed data, please see"Data and Statistics"at the website of SAFE.
7.The BOP data is revised regularly; please find the latest data in"Data and Statistics".
AbridgedChina’s Balance of Payments, First Half of 2023
Item | Line No. | RMB 100 million | USD 100 million | SDR 100 million |
1. Current Account | 1 | 10085 | 1463 | 1090 |
Credit | 2 | 126925 | 18310 | 13660 |
Debit | 3 | -116840 | -16847 | -12570 |
1. A Goods and Services | 4 | 13265 | 1910 | 1425 |
Credit | 5 | 117054 | 16888 | 12599 |
Debit | 6 | -103789 | -14977 | -11173 |
1.A.a Goods | 7 | 20354 | 2932 | 2188 |
Credit | 8 | 105810 | 15264 | 11387 |
Debit | 9 | -85456 | -12332 | -9200 |
1.A.b Services | 10 | -7090 | -1022 | -762 |
Credit | 11 | 11244 | 1623 | 1211 |
Debit | 12 | -18334 | -2645 | -1974 |
1.B Primary Income | 13 | -3768 | -533 | -399 |
Credit | 14 | 8454 | 1218 | 909 |
Debit | 15 | -12222 | -1751 | -1307 |
1.C Secondary Income | 16 | 589 | 85 | 63 |
Credit | 17 | 1417 | 204 | 153 |
Debit | 18 | -828 | -119 | -89 |
2. Capital and Financial Account | 19 | -8757 | -1267 | -945 |
2.1 Capital Account | 20 | -5 | -1 | -1 |
Credit | 21 | 8 | 1 | 1 |
Debit | 22 | -14 | -2 | -1 |
2.2 Financial Account | 23 | -8752 | -1266 | -945 |
Assets | 24 | -9275 | -1338 | -1000 |
Liabilities | 25 | 523 | 72 | 55 |
2.2.1 Financial Account Excluding Reserve Assets | 26 | -5872 | -849 | -634 |
2.2.1.1 Direct Investment | 27 | -4282 | -616 | -460 |
Assets | 28 | -6151 | -888 | -663 |
Liabilities | 29 | 1870 | 273 | 203 |
2.2.1.2 Portfolio Investment | 30 | -4220 | -623 | -464 |
Assets | 31 | -3588 | -524 | -391 |
Liabilities | 32 | -632 | -99 | -73 |
2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options | 33 | -187 | -26 | -19 |
Assets | 34 | -175 | -24 | -18 |
Liabilities | 35 | -12 | -1 | -1 |
2.2.1.4 Other Investment | 36 | 2817 | 415 | 309 |
Assets | 37 | 3520 | 516 | 383 |
Liabilities | 38 | -703 | -101 | -74 |
2.2.2 Reserve Assets | 39 | -2880 | -417 | -311 |
3. Net Errors and Omissions | 40 | -1328 | -195 | -145 |
Notes:
1.The statement is compiled according to BPM6. Reserve assets are included in capital and financial accounts.
2."Credit" is presented as positive value while "debit" as negative value, and thebalanceis the sum of the "Credit" and the "Debit". All items herein refer tobalance, unless marked with "Credit" or "Debit".
3.The RMB denominated quarterly BOP data is converted from the USD denominated BOP data,using period averagecentral parityrate of RMB against USD. The quarterly accumulated RMB denominated BOP data is derived from the sum total of the RMB denominated data for the quarters.
4.The SDR denominated quarterly BOP data is converted from the USD denominated BOP data,using period average exchange rate of SDR against USD. The quarterly accumulated SDR denominated BOP data is derived from the sum total of the SDR denominated data for the quarters.
5.This statement employs rounded-off numbers.
6.For detailed data, please see"Data and Statistics"at the website of SAFE.
7.The BOP data is revised regularly; please find the latest data in"Data and Statistics".
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