SAFE News
-
- Index number:
- 000014453-2019-0204
-
- Dispatch date:
- 2011-05-24
-
- Publish organization:
- State Administration of Foreign Exchange
-
- Exchange Reference number：
-
- Name：
- SAFE Releases Preliminary Data on China's Balance of Payments Statement for the First Quarter of 2011
SAFE Releases Preliminary Data on China's Balance of Payments Statement for the First Quarter of 2011
Initial estimates reveal that in Q1 of 2011 the current account and the capital and financial account (including net errors and omissions) continued to post a surplus and international reserves maintained a growing momentum. In Q1, the surplus under the current account totaled USD29.8 billion, a year-on-year decrease of 18 percent as calculated on a comparable basis (the same below). Specifically, the surpluses in goods, income, and current transfers reached USD20.8 billion, USD7.6 billion, and USD11.6 billion, respectively, whereas the deficit in trade in services amounted to USD10.2 billion. Meanwhile, China's surplus under the capital and financial account (including net errors and omissions) totaled USD111.4 billion. In particular, net inflows of direct investments amounted to USD42.6 billion. International reserve assets posted an increase of USD141.2 billion, a rise of 47 percent. Specifically, transactions in foreign exchange reserve assets registered an increase of USD138 billion (exclusive of the influence of non-transaction changes in value such as exchange rates and prices), the reserve position in the IMF registered an increase of USD3.2 million, and special drawing rights registered a decrease of USD100 million.
