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SAFE News
  • Index number:
    000014453-2021-0027
  • Dispatch date:
    2021-03-26
  • Publish organization:
    State Administration of Foreign Exchange
  • Exchange Reference number:
  • Name:
    SAFE Releases China's Balance of Payments for the Fourth Quarter and for the Year 2020
SAFE Releases China's Balance of Payments for the Fourth Quarter and for the Year 2020

In the fourth quarter of 2020, China's current account registered a surplus of RMB 817.7 billion, and the capital and financial accounts recorded a deficit of RMB 276.8 billion. The financial account (excluding reserve assets) recorded a deficit of RMB 114.3 billion, and reserve assets increased by RMB 162.8 billion.

In 2020, China's current account registered a surplus of RMB 1870.9 billion, and the capital and financial accounts recorded a deficit of RMB 726.6 billion.The financial account (excluding reserve assets) recorded a deficit of RMB 538.3 billion, and reserve assets increased by RMB 187.8 billion.

In the US dollar terms, in the fourth quarter, China's current account recorded a surplus of USD 123.8 billion, including a surplus of USD 188.6 billion under trade in goods, a deficit of USD 28.5 billion under trade in services, a deficit of USD 40.5 billion under primary income and a surplus of USD 4.2 billion under secondary income. The capital and financial accounts registered a deficit of USD 41.9 billion, including a deficit of USD 42 million under the capital account, and a deficit of USD 17.3 billion under the financial account (excluding reserve assets), and reserve assets increased by USD 24.6 billion.

In the US dollar terms, in 2020, China's current account recorded a surplus of USD 274 billion, including a surplus of USD 515 billion under trade in goods, a deficit of USD 145.3 billion under trade in services, a deficit of USD 105.2 billion under primary income and a surplus of USD 9.5 billion under secondary income. The capital and financial accounts recorded a deficit of USD 105.8 billion, including a deficit of USD 77 million under the capital account, a deficit of USD 77.8 billion under the financial account (excluding reserve assets), and reserve assets increased by USD 28 billion.

In SDR terms, in the fourth quarter, China posted a surplus of SDR 86.9 billion under the current account, and a deficit of SDR 29.4 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a deficit of SDR 12.1 billion, and reserve assets increased by SDR 17.3 billion.

In SDR terms, in 2020, China posted a surplus of SDR 194.4 billion under the current account, and a deficit of SDR 75.1 billion under the capital and financial accounts. The financial account (excluding reserve assets) registered a deficit of SDR 55.8 billion, and reserve assets increased by SDR 19.3 billion.

The SAFE has revised the BOP data for each quarter since 2015 according to the latest data and released it through the section of "Data and Statistics" at the official website of the SAFE.

In addition, in order to facilitate understanding of the data of Balance of Payments and International Investment Position among all data users, the BOP Analysis Team of the SAFE released  Chinas Balance of Payments Report 2020. (End)


Abridged Balance of Payments, Q4 2020

Item

Line No.

RMB 100 million

USD 100 million

SDR 100 million

1. Current Account

1

8,177

1,238

869

Credit

2

58,457

8,848

6,212

Debit

3

-50,280

-7,610

-5,343

1. A Goods and Services

4

10,579

1,601

1,124

Credit

5

53,705

8,128

5,707

Debit

6

-43,126

-6,527

-4,582

1.A.a Goods

7

12,461

1,886

1,324

Credit

8

49,238

7,452

5,232

Debit

9

-36,777

-5,566

-3,908

1.A.b Services

10

-1,882

-285

-200

Credit

11

4,467

676

475

Debit

12

-6,349

-961

-675

1.B Primary Income

13

-2,678

-405

-285

Credit

14

4,049

613

430

Debit

15

-6,727

-1,018

-715

1.C Secondary Income

16

276

42

29

Credit

17

703

106

75

Debit

18

-427

-65

-45

2. Capital and Financial Account

19

-2,768

-419

-294

2.1 Capital Account

20

3

0.4

0

Credit

21

4

1

0

Debit

22

-1

0

0

2.2 Financial Account

23

-2,771

-419

-294

Assets

24

-14,859

-2,249

-1,579

Liabilities

25

12,088

1,830

1,284

2.2.1 Financial Account Excluding Reserve Assets

26

-1,143

-173

-121

2.2.1.1 Direct Investment

27

3,730

565

396

Assets

28

-1,963

-297

-209

Liabilities

29

5,694

862

605

2.2.1.2 Portfolio Investment

30

3,580

542

380

Assets

31

-3,738

-566

-397

Liabilities

32

7,318

1,108

778

2.2.1.3 Financial Derivatives (other than reserves) and Employee  Stock Options

33

2

0

0

Assets

34

99

15

10

Liabilities

35

-97

-15

-10

2.2.1.4 Other Investment

36

-8,455

-1,280

-898

Assets

37

-7,629

-1,155

-811

Liabilities

38

-826

-125

-88

2.2.2 Reserve Assets

39

-1,628

-246

-173

3. Net Errors and Omissions

40

-5,409

-819

-575

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 quarterly average middle 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 quarterly average middle 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 the section of Data and Statistics at the website of the SAFE.

7. The BOP data is revised regularly; please find the latest data in “Data and Statistics”.

 


Abridged Balance of Payments, 2020

Item

Line No.

RMB 100 million

USD 100 million

SDR 100 million

1. Current Account

1

18,709

2,740

1,944

Credit

2

207,187

30,117

21,658

Debit

3

-188,478

-27,377

-19,715

1. A Goods and Services

4

25,267

3,697

2,629

Credit

5

187,926

27,324

19,651

Debit

6

-162,659

-23,627

-17,021

1.A.a Goods

7

35,311

5,150

3,681

Credit

8

171,737

24,972

17,956

Debit

9

-136,426

-19,822

-14,275

1.A.b Services

10

-10,044

-1,453

-1,052

Credit

11

16,189

2,352

1,695

Debit

12

-26,233

-3,805

-2,746

1.B Primary Income

13

-7,204

-1,052

-753

Credit

14

16,673

2,417

1,736

Debit

15

-23,876

-3,469

-2,490

1.C Secondary Income

16

645

95

68

Credit

17

2,588

376

271

Debit

18

-1,943

-281

-203

2. Capital and Financial Account

19

-7,266

-1,058

-751

2.1 Capital Account

20

-6

-1

-1

Credit

21

11

2

1

Debit

22

-17

-2

-2

2.2 Financial Account

23

-7,260

-1,058

-751

Assets

24

-42,918

-6,263

-4,477

Liabilities

25

35,657

5,206

3,726

2.2.1 Financial Account Excluding Reserve Assets

26

-5,383

-778

-558

2.2.1.1 Direct Investment

27

6,938

1,026

730

Assets

28

-7,572

-1,099

-790

Liabilities

29

14,510

2,125

1,521

2.2.1.2 Portfolio Investment

30

5,912

873

608

Assets

31

-11,472

-1,673

-1,206

Liabilities

32

17,384

2,547

1,814

2.2.1.3 Financial Derivatives (other than reserves) and Employee  Stock Options

33

-800

-114

-83

Assets

34

-490

-69

-51

Liabilities

35

-310

-45

-32

2.2.1.4 Other Investment

36

-17,433

-2,562

-1,813

Assets

37

-21,506

-3,142

-2,236

Liabilities

38

4,073

579

424

2.2.2 Reserve Assets

39

-1,878

-280

-193

3. Net Errors and Omissions

40

-11,443

-1,681

-1,192

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 quarterly average middle 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 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 the section of  Data and Statisticsat the website of the SAFE.

7. The BOP data is revised regularly; please find the latest data in “Data and Statistics”.

The English translation may only be used as a reference. In case a different interpretation of the translated information contained in this website arises, the original Chinese shall prevail.

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