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- Index number:
- 000014453-2020-0111
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- Dispatch date:
- 2020-09-25
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- Publish organization:
- State Administration of Foreign Exchange
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- Exchange Reference number：
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- Name：
- SAFE Releases China's Balance of Payments for the Second Quarter and the First Half of 2020
In the second quarter of 2020, China's current account registered a surplus of RMB 780.4 billion, and the capital and financial accounts recorded a deficit of RMB 244.3 billion.The financial account (excluding reserve assets) recorded a deficit of RMB 108.6 billion, and reserve assets rose by RMB 135.6 billion.
In the first half of 2020, China's current account registered a surplus of RMB 545.3 billion, and the capital and financial accounts recorded a deficit of RMB 166.8 billion. The financial account (excluding reserve assets) recorded a deficit of RMB 205.4 billion, and reserve assets decreased by RMB 39.3 billion.
In SDR terms, in the second quarter of 2020, China posted a surplus of SDR 80.5 billion under the current account, and a deficit of SDR 25.2 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a deficit of SDR 11.2 billion, and reserves assets rose by SDR 14 billion.
In SDR terms, in first half of 2020, China posted a surplus of SDR 55.5 billion under the current account, and a deficit of SDR 16.9 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a deficit of SDR 21.5 billion, and a decrease of SDR 4.6 billion under reserves assets.
In the US dollar terms, in the second quarter of 2020, China's current account recorded a surplus of USD 110.2 billion, including a surplus of USD 161.3 billion under trade in goods, a deficit of USD 29.5 billion under trade in services, a deficit of USD 22.5 billion under primary income, and a surplus of USD 900 million under secondary income. The capital and financial accounts recorded a deficit of USD 34.5 billion, including a deficit of USD 10 million under the capital account, a deficit of USD 15.3 billion under the financial account (excluding reserve assets), and an increase of USD 19.1 billion under reserves assets.
In the US dollar terms, in the first half of 2020, China's current account recorded a surplus of USD 76.5 billion, including a surplus of USD 184.4 billion under trade in goods, a deficit of USD 76.6 billion under trade in services, a deficit of USD 33.9 billion under primary income, and a surplus of USD 2.5 billion under secondary income. The capital and financial accounts recorded a deficit of USD 23.4 billion, including a deficit of USD 100 million under the capital account, a deficit of USD 29.2 billion under the financial account (excluding reserve assets), and a decrease of USD 5.9 billion 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 2020 (in Chinese). (End)
Abridged Balance of Payments of China, Second Quarter of 2020
Item | Line No. | RMB 100 million | USD 100 million | SDR 100 million |
1. Current Account | 1 | 7,804 | 1,102 | 805 |
Credit | 2 | 52,447 | 7,403 | 5,408 |
Debit | 3 | -44,642 | -6,302 | -4,603 |
1. A Goods and Services | 4 | 9,336 | 1,318 | 963 |
Credit | 5 | 46,728 | 6,596 | 4,818 |
Debit | 6 | -37,392 | -5,278 | -3,856 |
1.A.a Goods | 7 | 11,427 | 1,613 | 1,178 |
Credit | 8 | 42,777 | 6,038 | 4,411 |
Debit | 9 | -31,351 | -4,425 | -3,233 |
1.A.b Services | 10 | -2,090 | -295 | -216 |
Credit | 11 | 3,951 | 558 | 407 |
Debit | 12 | -6,041 | -853 | -623 |
1.B Primary Income | 13 | -1,597 | -225 | -165 |
Credit | 14 | 5,140 | 726 | 530 |
Debit | 15 | -6,737 | -951 | -695 |
1.C Secondary Income | 16 | 66 | 9 | 7 |
Credit | 17 | 579 | 82 | 60 |
Debit | 18 | -514 | -73 | -53 |
2. Capital and Financial Account | 19 | -2,443 | -345 | -252 |
2.1 Capital Account | 20 | -1 | 0 | 0 |
Credit | 21 | 3 | 0 | 0 |
Debit | 22 | -4 | 0 | 0 |
2.2 Financial Account | 23 | -2,441 | -345 | -252 |
Assets | 24 | -9,730 | -1,373 | -1,003 |
Liabilities | 25 | 7,288 | 1,029 | 752 |
2.2.1 Financial Account Excluding Reserve Assets | 26 | -1,086 | -153 | -112 |
2.2.1.1 Direct Investment | 27 | 333 | 47 | 34 |
Assets | 28 | -2,066 | -292 | -213 |
Liabilities | 29 | 2,399 | 339 | 247 |
2.2.1.2 Portfolio Investment | 30 | 3,006 | 424 | 310 |
Assets | 31 | -1,671 | -236 | -172 |
Liabilities | 32 | 4,676 | 660 | 482 |
2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options | 33 | -317 | -45 | -33 |
Assets | 34 | -251 | -35 | -26 |
Liabilities | 35 | -66 | -9 | -7 |
2.2.1.4 Other Investment | 36 | -4,108 | -580 | -424 |
Assets | 37 | -4,386 | -619 | -452 |
Liabilities | 38 | 279 | 39 | 29 |
2.2.2 Reserve Assets | 39 | -1,356 | -191 | -140 |
3. Net Errors and Omissions | 40 | -5,362 | -757 | -553 |
Notes:
1.The statement is compiled according to BPM6. Reserve assets are included incapital and financial accounts.
2."Credit" is presented as positive value while "debit" as negative value, and the balance is the sum of the "Credit" and the "Debit". All items herein refer to balance, unless marked with "Credit" or "Debit".
3.The RMB denominated quarterly BOP data is converted from the USD denominated BOP data, using quarterly average central parity rate 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 quarterly 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.
Abridged China’s Balance of Payments, First Half of 2020
Item | Line No. | RMB 100 million | USD 100 million | SDR 100 million |
1. Current Account | 1 | 5,453 | 765 | 555 |
Credit | 2 | 91,243 | 12,962 | 9,536 |
Debit | 3 | -85,790 | -12,198 | -8,982 |
1. A Goods and Services | 4 | 7,665 | 1,078 | 785 |
Credit | 5 | 83,040 | 11,799 | 8,682 |
Debit | 6 | -75,375 | -10,721 | -7,897 |
1.A.a Goods | 7 | 13,039 | 1,844 | 1,350 |
Credit | 8 | 75,290 | 10,697 | 7,871 |
Debit | 9 | -62,252 | -8,853 | -6,521 |
1.A.b Services | 10 | -5,374 | -766 | -565 |
Credit | 11 | 7,750 | 1,102 | 812 |
Debit | 12 | -13,123 | -1,868 | -1,377 |
1.B Primary Income | 13 | -2,388 | -339 | -249 |
Credit | 14 | 6,985 | 990 | 726 |
Debit | 15 | -9,373 | -1,329 | -975 |
1.C Secondary Income | 16 | 176 | 25 | 19 |
Credit | 17 | 1,219 | 173 | 128 |
Debit | 18 | -1,042 | -148 | -109 |
2. Capital and Financial Account | 19 | -1,668 | -234 | -169 |
2.1 Capital Account | 20 | -7 | -1 | -1 |
Credit | 21 | 4 | 1 | 0 |
Debit | 22 | -11 | -2 | -1 |
2.2 Financial Account | 23 | -1,661 | -233 | -169 |
Assets | 24 | -13,304 | -1,886 | -1,384 |
Liabilities | 25 | 11,643 | 1,653 | 1,215 |
2.2.1 Financial Account Excluding Reserve Assets | 26 | -2,054 | -292 | -215 |
2.2.1.1 Direct Investment | 27 | 1,471 | 210 | 155 |
Assets | 28 | -3,323 | -472 | -347 |
Liabilities | 29 | 4,794 | 682 | 502 |
2.2.1.2 Portfolio Investment | 30 | -707 | -108 | -85 |
Assets | 31 | -5,266 | -751 | -555 |
Liabilities | 32 | 4,559 | 643 | 470 |
2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options | 33 | -642 | -91 | -67 |
Assets | 34 | -497 | -71 | -52 |
Liabilities | 35 | -145 | -21 | -15 |
2.2.1.4 Other Investment | 36 | -2,177 | -303 | -218 |
Assets | 37 | -4,612 | -652 | -476 |
Liabilities | 38 | 2,436 | 348 | 258 |
2.2.2 Reserve Assets | 39 | 393 | 59 | 46 |
3. Net Errors and Omissions | 40 | -3,785 | -531 | -385 |
Notes:
1.The statement is compiled according to BPM6. Reserve assets are included incapital and financial accounts.
2."Credit" is presented as positive value while "debit" as negative value, and the balance is the sum of the "Credit" and the "Debit". All items herein refer to balance, unless marked with "Credit" or "Debit".
3.The RMB denominated quarterly BOP data is converted from the USD denominated BOP data, using quarterly average central parity rate 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 quarterly 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.
