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- Index number:
- 000014453-2020-0136
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- Dispatch date:
- 2020-12-25
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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 Third Quarter and the First Three Quarters of 2020
In the third quarter of 2020, China's current account registered a surplus of RMB 638.3 billion, and the capital and financial accounts recorded a deficit of RMB 349.2 billion. The financial account (excluding reserve assets) recorded a deficit of RMB 284.9 billion, and reserve assets rose by RMB 64.2 billion.
In the first three quarters of 2020, China's current account registered a surplus of RMB 1183.6 billion, and the capital and financial accounts recorded a deficit of RMB 516 billion. The financial account (excluding reserve assets) recorded a deficit of RMB 490.3 billion, and reserve assets increased by RMB 24.9 billion.
In SDR terms, in the third quarter of 2020, China posted a surplus of SDR 65.6 billion under the current account, and a deficit of SDR 35.9 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a deficit of SDR 29.3 billion, and reserve assets rose by SDR 6.6 billion.
In SDR terms, in the first three quarters of 2020, China posted a surplus of SDR 121.1 billion under the current account, and a deficit of SDR 52.9 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a deficit of SDR 50.8 billion, and reserve assets rose by SDR 2 billion.
In the US dollar terms, in the third quarter of 2020, China's current account recorded a surplus of USD 92.2 billion, including a surplus of USD 155.8 billion under trade in goods, a deficit of USD 40.3 billion under trade in services, a deficit of USD 26.1 billion under primary income, and a surplus of USD 2.8 billion under secondary income. The capital and financial accounts recorded a deficit of USD 50.5 billion, including a deficit of USD 12 million under the capital account, a deficit of USD 41.2 billion under the financial account (excluding reserve assets), and an increase of USD 9.3 billion under reserve assets.
In the US dollar terms, in the first three quarters of 2020, China's current account recorded a surplus of USD 168.7 billion, including a surplus of USD 340.2 billion under trade in goods, a deficit of USD 116.8 billion under trade in services, a deficit of USD 60 billion under primary income, and a surplus of USD 5.3 billion under secondary income. The capital and financial accounts recorded a deficit of USD 73.8 billion, including a deficit of USD 119 million under the capital account, a deficit of USD 70.4 billion under the financial account(excluding reserve assets), and an increase of USD 3.4 billion under reserve sassets. (End)
Abridged Balance of Payments of China, Third Quarter of 2020
Item | Line No. | RMB 100 million | USD 100 million | SDR 100 million |
1. Current Account | 1 | 6,383 | 922 | 656 |
Credit | 2 | 57,317 | 8,282 | 5,893 |
Debit | 3 | -50,934 | -7,360 | -5,237 |
1. A Goods and Services | 4 | 7,996 | 1,155 | 822 |
Credit | 5 | 51,454 | 7,435 | 5,290 |
Debit | 6 | -43,459 | -6,280 | -4,468 |
1.A.a Goods | 7 | 10,784 | 1,558 | 1,109 |
Credit | 8 | 47,482 | 6,861 | 4,882 |
Debit | 9 | -36,698 | -5,303 | -3,773 |
1.A.b Services | 10 | -2,788 | -403 | -287 |
Credit | 11 | 3,972 | 574 | 408 |
Debit | 12 | -6,761 | -977 | -695 |
1.B Primary Income | 13 | -1,805 | -261 | -186 |
Credit | 14 | 5,197 | 751 | 534 |
Debit | 15 | -7,002 | -1,012 | -720 |
1.C Secondary Income | 16 | 193 | 28 | 20 |
Credit | 17 | 666 | 96 | 68 |
Debit | 18 | -473 | -68 | -49 |
2. Capital and Financial Account | 19 | -3,492 | -505 | -359 |
2.1 Capital Account | 20 | -1 | 0 | 0 |
Credit | 21 | 3 | 0 | 0 |
Debit | 22 | -4 | -1 | 0 |
2.2 Financial Account | 23 | -3,491 | -504 | -359 |
Assets | 24 | -15,417 | -2,228 | -1,585 |
Liabilities | 25 | 11,926 | 1,723 | 1,226 |
2.2.1 Financial Account Excluding Reserve Assets | 26 | -2,849 | -412 | -293 |
2.2.1.1 Direct Investment | 27 | 1,736 | 251 | 178 |
Assets | 28 | -2,287 | -330 | -235 |
Liabilities | 29 | 4,023 | 581 | 414 |
2.2.1.2 Portfolio Investment | 30 | 3,039 | 439 | 312 |
Assets | 31 | -2,468 | -357 | -254 |
Liabilities | 32 | 5,507 | 796 | 566 |
2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options | 33 | -160 | -23 | -16 |
Assets | 34 | -92 | -13 | -9 |
Liabilities | 35 | -67 | -10 | -7 |
2.2.1.4 Other Investment | 36 | -7,464 | -1,079 | -767 |
Assets | 37 | -9,928 | -1,435 | -1,021 |
Liabilities | 38 | 2,464 | 356 | 253 |
2.2.2 Reserve Assets | 39 | -642 | -93 | -66 |
3. Net Errors and Omissions | 40 | -2,891 | -418 | -297 |
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 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.
7. The BOP data is revised regularly; please find the latest data in “Data and Statistics”.
Abridged China’s Balance of Payments, First Three Quarters of 2020
Item | Line No. | RMB 100 million | USD 100 million | SDR 100 million |
1. Current Account | 1 | 11,836 | 1,687 | 1,211 |
Credit | 2 | 148,561 | 21,244 | 15,429 |
Debit | 3 | -136,725 | -19,557 | -14,219 |
1. A Goods and Services | 4 | 15,661 | 2,234 | 1,607 |
Credit | 5 | 134,494 | 19,234 | 13,973 |
Debit | 6 | -118,834 | -17,000 | -12,366 |
1.A.a Goods | 7 | 23,823 | 3,402 | 2,459 |
Credit | 8 | 122,772 | 17,558 | 12,753 |
Debit | 9 | -98,950 | -14,156 | -10,294 |
1.A.b Services | 10 | -8,162 | -1,168 | -852 |
Credit | 11 | 11,722 | 1,676 | 1,220 |
Debit | 12 | -19,884 | -2,844 | -2,072 |
1.B Primary Income | 13 | -4,194 | -600 | -434 |
Credit | 14 | 12,182 | 1,741 | 1,261 |
Debit | 15 | -16,375 | -2,340 | -1,695 |
1.C Secondary Income | 16 | 369 | 53 | 38 |
Credit | 17 | 1,885 | 270 | 196 |
Debit | 18 | -1,516 | -217 | -158 |
2. Capital and Financial Account | 19 | -5,160 | -738 | -529 |
2.1 Capital Account | 20 | -8 | -1 | -1 |
Credit | 21 | 7 | 1 | 1 |
Debit | 22 | -15 | -2 | -2 |
2.2 Financial Account | 23 | -5,152 | -737 | -528 |
Assets | 24 | -28,722 | -4,113 | -2,969 |
Liabilities | 25 | 23,570 | 3,376 | 2,441 |
2.2.1 Financial Account Excluding Reserve Assets | 26 | -4,903 | -704 | -508 |
2.2.1.1 Direct Investment | 27 | 3,207 | 461 | 334 |
Assets | 28 | -5,609 | -802 | -582 |
Liabilities | 29 | 8,816 | 1,263 | 916 |
2.2.1.2 Portfolio Investment | 30 | 2,332 | 331 | 227 |
Assets | 31 | -7,734 | -1,108 | -809 |
Liabilities | 32 | 10,066 | 1,439 | 1,036 |
2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options | 33 | -801 | -114 | -84 |
Assets | 34 | -589 | -84 | -62 |
Liabilities | 35 | -212 | -30 | -22 |
2.2.1.4 Other Investment | 36 | -9,641 | -1,382 | -985 |
Assets | 37 | -14,540 | -2,086 | -1,497 |
Liabilities | 38 | 4,899 | 704 | 512 |
2.2.2 Reserve Assets | 39 | -249 | -34 | -20 |
3. Net Errors and Omissions | 40 | -6,676 | -949 | -682 |
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 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.
7. The BOP data is revised regularly; please find the latest data in “Data and Statistics”.
