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- Index number:
- 000014453-2024-0092
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- Dispatch date:
- 2024-12-27
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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 for the First Three Quarters of 2024
In the third quarter of 2024, China's current account registered a surplus of RMB 1049.4 billion, and the capital and financial accounts recorded a deficit of RMB 982.4 billion.
In the first three quarters of 2024, China's current account registered a surplus of RMB 1718.4 billion, and the capital and financial accounts recorded a deficit of RMB 1861.2 billion.
In the US dollar terms, in the third quarter, China's current account recorded a surplus of USD 147.6 billion, including a surplus of USD 229.9 billion under trade in goods, a deficit of USD 58.6 billion under trade in services, a deficit of USD 27.8 billion under primary income and a surplus of USD 4.1 billion under secondary income. The capital and financial accounts registered a deficit of USD 138.1 billion, including a surplus of USD 7.7 million under the capital account, and a deficit of USD 138.1 billion under the financial account.
In the US dollar terms, in the first three quarters of 2024, China's current account recorded a surplus of USD 241.3 billion, including a surplus of USD 518.3 billion under trade in goods, a deficit of USD 181.5 billion under trade in services, a deficit of USD 105.6 billion under primary income and a surplus of USD 10.2 billion under secondary income. The capital and financial accounts recorded a deficit of USD 260.9 billion, including a deficit of USD 107.0 million under the capital account, a deficit of USD 260.8 billion under the financial account.
In SDR terms, in the third quarter, China posted a surplus of SDR 110.1 billion under the current account, and a deficit of SDR 102.9 billion under the capital and financial accounts.
In SDR terms, in the first three quarters of 2024, China posted a surplus of SDR 180.8 billion under the current account, and a deficit of SDR 195.5 billion under the capital and financial accounts. (End)
Abridged Balance of Payments, Q3 2024
Item | Line No. | RMB 100 million | USD 100 million | SDR 100 million |
1. Current Account | 1 | 10494 | 1476 | 1101 |
Credit | 2 | 77349 | 10873 | 8125 |
Debit | 3 | -66855 | -9397 | -7024 |
1. A Goods and Services | 4 | 12184 | 1713 | 1278 |
Credit | 5 | 70558 | 9918 | 7411 |
Debit | 6 | -58374 | -8205 | -6133 |
1.A.a Goods | 7 | 16352 | 2299 | 1716 |
Credit | 8 | 63536 | 8931 | 6674 |
Debit | 9 | -47184 | -6632 | -4957 |
1.A.b Services | 10 | -4169 | -586 | -438 |
Credit | 11 | 7022 | 987 | 738 |
Debit | 12 | -11191 | -1573 | -1176 |
1.B Primary Income | 13 | -1978 | -278 | -208 |
Credit | 14 | 6086 | 856 | 639 |
Debit | 15 | -8065 | -1134 | -847 |
1.C Secondary Income | 16 | 289 | 41 | 30 |
Credit | 17 | 705 | 99 | 74 |
Debit | 18 | -416 | -58 | -44 |
2. Capital and Financial Account | 19 | -9824 | -1381 | -1029 |
2.1 Capital Account | 20 | 1 | 0.1 | 0 |
Credit | 21 | 3 | 0 | 0 |
Debit | 22 | -2 | 0 | 0 |
2.2 Financial Account | 23 | -9825 | -1381 | -1029 |
Assets | 24 | -7137 | -1005 | -748 |
Liabilities | 25 | -2687 | -376 | -280 |
2.2.1 Financial Account Excluding Reserve Assets | 26 | -11777 | -1656 | -1234 |
2.2.1.1 Direct Investment | 27 | -3050 | -428 | -321 |
Assets | 28 | -2452 | -345 | -258 |
Liabilities | 29 | -598 | -83 | -64 |
2.2.1.2 Portfolio Investment | 30 | -843 | -119 | -88 |
Assets | 31 | -2552 | -359 | -269 |
Liabilities | 32 | 1709 | 240 | 180 |
2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options | 33 | 118 | 17 | 12 |
Assets | 34 | 208 | 29 | 22 |
Liabilities | 35 | -90 | -12 | -9 |
2.2.1.4 Other Investment | 36 | -8002 | -1126 | -837 |
Assets | 37 | -4294 | -605 | -449 |
Liabilities | 38 | -3708 | -521 | -387 |
2.2.2 Reserve Assets | 39 | 1953 | 274 | 205 |
3. Net Errors and Omissions | 40 | -670 | -95 | -72 |
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 difference is the sum of the "Credit" and the "Debit". All items herein refer to difference, unless marked with "Credit" or "Debit".
3. The RMB denominated quarterly BOP data is converted from the USD denominated BOP data for the quarter using the 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 for the quarter using the 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. In the third quarter of 2024, the equity other than reinvestment of earnings under direct investment liabilities (credit) was USD 19.6 billion (RMB 139.0 billion).
6.This statement employs rounded-off numbers.
7. For detailed data, please see the section of “Data and Statistics” at the website of the SAFE.
8. The BOP data is revised regularly; please find the latest data in “Data and Statistics”.
Abridged Balance of Payments, First Three Quarters of 2024
Item | Line No. | RMB 100 million | USD 100 million | SDR 100 million |
1. Current Account | 1 | 17184 | 2413 | 1808 |
Credit | 2 | 213201 | 29886 | 22474 |
Debit | 3 | -196018 | -27473 | -20666 |
1. A Goods and Services | 4 | 23989 | 3368 | 2528 |
Credit | 5 | 196144 | 27494 | 20675 |
Debit | 6 | -172155 | -24126 | -18147 |
1.A.a Goods | 7 | 36946 | 5183 | 3894 |
Credit | 8 | 176402 | 24727 | 18595 |
Debit | 9 | -139456 | -19544 | -14701 |
1.A.b Services | 10 | -12957 | -1815 | -1366 |
Credit | 11 | 19742 | 2767 | 2080 |
Debit | 12 | -32699 | -4582 | -3446 |
1.B Primary Income | 13 | -7531 | -1056 | -796 |
Credit | 14 | 15102 | 2118 | 1593 |
Debit | 15 | -22633 | -3175 | -2389 |
1.C Secondary Income | 16 | 726 | 102 | 76 |
Credit | 17 | 1956 | 274 | 206 |
Debit | 18 | -1230 | -172 | -130 |
2. Capital and Financial Account | 19 | -18612 | -2609 | -1955 |
2.1 Capital Account | 20 | -8 | -1 | -1 |
Credit | 21 | 8 | 1 | 1 |
Debit | 22 | -15 | -2 | -2 |
2.2 Financial Account | 23 | -18605 | -2608 | -1954 |
Assets | 24 | -22490 | -3149 | -2364 |
Liabilities | 25 | 3885 | 541 | 410 |
2.2.1 Financial Account Excluding Reserve Assets | 26 | -20846 | -2928 | -2196 |
2.2.1.1 Direct Investment | 27 | -11140 | -1563 | -1180 |
Assets | 28 | -10220 | -1433 | -1080 |
Liabilities | 29 | -920 | -130 | -100 |
2.2.1.2 Portfolio Investment | 30 | -2835 | -396 | -298 |
Assets | 31 | -9480 | -1327 | -1000 |
Liabilities | 32 | 6645 | 931 | 702 |
2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options | 33 | -244 | -34 | -26 |
Assets | 34 | -192 | -27 | -21 |
Liabilities | 35 | -52 | -7 | -6 |
2.2.1.4 Other Investment | 36 | -6627 | -934 | -692 |
Assets | 37 | -4839 | -681 | -506 |
Liabilities | 38 | -1787 | -253 | -186 |
2.2.2 Reserve Assets | 39 | 2241 | 319 | 242 |
3. Net Errors and Omissions | 40 | 1429 | 196 | 146 |
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 difference is the sum of the "Credit" and the "Debit". All items herein refer to difference, unless marked with "Credit" or "Debit".
3. The RMB denominated quarterly BOP data is converted from the USD denominated BOP data for the quarter using the 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 for the quarter using the 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.In the first three quarters of 2024, the equity other than reinvestment of earnings under direct investment liabilities (credit) was USD 60.3 billion (RMB 430.0 billion).
6.This statement employs rounded-off numbers.
7. For detailed data, please see the section of “Data and Statistics” at the website of the SAFE.
8. The BOP data is revised regularly; please find the latest data in “Data and Statistics”.
