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- Index number:
- 000014453-2023-0086
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- Dispatch date:
- 2023-09-28
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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 2023
In the second quarter of 2023, China's current account registered a surplus of RMB 451.0 billion, and the capital and financial accounts recorded a deficit of RMB 353.6 billion.
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 RMB 875.7 billion.
In SDR terms, in the second quarter of 2023, China posted a surplus of SDR 48.2 billion under the current account, and a deficit of SDR 37.6 billion under the capital and financial accounts.
In SDR terms, in first half of 2023, China posted a surplus of SDR 109.0 billion under the current account, and a deficit of SDR 94.5 billion 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 USD 64.7 billion, including a surplus of USD 163.3 billion under trade in goods, a deficit of USD 55.0 billion under trade in services, a deficit of USD 46.7 billion under primary income, and a surplus of USD 3.1 billion under secondary income. The capital and financial accounts recorded a deficit of USD 50.4 billion, including a deficit of USD 84 million under the capital account, a deficit of USD 34.1 billion under the financial account (excluding reserve assets), and an increase of USD 16.3 billion under reserves assets.
In the US dollar terms, in the first half of 2023, China's current account recorded a surplus of USD 146.3 billion, including a surplus of USD 293.2 billion under trade in goods, a deficit of USD 102.2 billion under trade in services, a deficit of USD 53.3 billion under primary income, and a surplus of USD 8.5 billion under secondary income. The capital and financial accounts recorded a deficit of USD 126.7 billion, including a deficit of USD 77 million under the capital account, a deficit of USD 84.9 billion under the financial account (excluding reserve assets), and an increase of USD 41.7 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 2023 (in Chinese). (End)
Abridged Balanceof Payments of 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 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 period 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 BOPdata, using period 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".
Abridged China’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 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 period 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 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".
