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SAFE News
  • Index number:
    000014453-2022-0061
  • Dispatch date:
    2022-08-05
  • Publish organization:
    State Administration of Foreign Exchange
  • Exchange Reference number:
  • Name:
    SAFE Releases Preliminary Data of the Balance of Payments for the Second Quarter and the First Half of 2022
SAFE Releases Preliminary Data of the Balance of Payments for the Second Quarter and the First Half of 2022

In the second quarter of 2022, China's current account registered a surplus of RMB 531.6 billion, including a surplus of RMB 1164.1 billion under trade in goods, a deficit of RMB 139.9 billion under trade in services, a deficit of RMB 528.6 billion under primary income, and a surplus of RMB 36.0 billion under secondary income. In the capital and financial accounts, foreign direct investments recorded a surplus of RMB 97.5 billion, and reserve assets decreased by RMB 123.9 billion.

In the first half of 2022, China's current account registered a surplus of RMB 1096.0 billion, including a surplus of RMB 2084.5 billion under trade in goods, a deficit of RMB 245.7 billion under trade in services, a deficit of RMB 811.9 billion under primary income, and a surplus of RMB 69.2 billion under secondary income. In the capital and financial accounts, foreign direct investments recorded a surplus of RMB 477.6 billion, and reserve assets increased by RMB 125.9 billion.

In the US dollar terms, in the second quarter of 2022, China's current account recorded a surplus of USD 80.2 billion, including a surplus of USD 175.7 billion under trade in goods, a deficit of USD 21.1 billion under trade in services, a deficit of USD 79.8 billion under primary income, and a surplus of USD 5.4 billion under secondary income. In the capital and financial accounts, foreign direct investments recorded a surplus of USD 15.0 billion, and reserve assets decreased by USD 19.0 billion.

In the US dollar terms, in the first half of 2022, China's current account recorded a surplus of USD 169.1 billion, including a surplus of USD 320.7 billion under trade in goods, a deficit of USD 37.8 billion under trade in services, a deficit of USD 124.4 billion under primary income, and a surplus of USD 10.7 billion under secondary income. In the capital and financial accounts, foreign direct investments recorded a surplus of USD 74.9 billion, and reserve assets increased by USD 20.4 billion.

In SDR terms, in the second quarter of 2022, China posted a surplus of SDR 59.6 billion under the current account, including a surplus of SDR 130.5 billion under trade in goods, a deficit of SDR 15.7 billion under trade in services. In the capital and financial accounts, foreign direct investments recorded a surplus of SDR 11.0 billion, and reserve assets decreased by SDR 14.0 billion.

In SDR terms, in first half of 2022, China posted a surplus of SDR 123.4 billion under the current account, including a surplus of SDR 234.5 billion under trade in goods, a deficit of SDR 27.6 billion under trade in services. In the capital and financial accounts, foreign direct investments recorded a surplus of SDR 54.0 billion, and reserve assets increased by SDR14.2 billion. (End)


China's Balance of Payments (Preliminary Data)

Unit:RMB 100 million

Item

Line No.

2022

Q2

2022

H1

1. Current account

1

5316

10960

Credit

2

64662

125490

Debit

3

-59346

-114530

1.  A Goods and Services

4

10242

18388

Credit

5

61618

118862

Debit

6

-51376

-100474

1.A.a  Goods

7

11641

20845

Credit

8

55604

106591

Debit

9

-43963

-85746

1.A.b  Services

10

-1399

-2457

Credit

11

6014

12271

Debit

12

-7412

-14729

1.A.b.1 Processing services

13

220

424

Credit

14

233

451

Debit

15

-13

-27

1.A.b.2 Maintenance and Repair  Services

16

62

116

Credit

17

126

242

Debit

18

-65

-126

1.A.b.3 Transport

19

-333

-150

Credit

20

2508

5172

Debit

21

-2841

-5322

1.A.b.4 Travel

22

-1483

-3353

Credit

23

145

292

Debit

24

-1628

-3644

1.A.b.5 Construction

25

123

183

Credit

26

234

431

Debit

27

-112

-249

1.A.b.6 Insurance and Pension Services

28

-326

-579

Credit

29

42

136

Debit

30

-368

-715

1.A.b.7 Financial Services

31

18

34

Credit

32

83

158

Debit

33

-65

-124

1.A.b.8 Charges for the Use of  Intellectual Property

34

-543

-1034

Credit

35

201

405

Debit

36

-744

-1439

1.A.b.9 Telecommunications, Computer,  and Information Services

37

301

589

Credit

38

931

1869

Debit

39

-631

-1280

1.A.b.10 Other Business Services

40

635

1399

Credit

41

1451

3006

Debit

42

-816

-1607

1.A.b.11 Personal, Cultural, and Recreational  Services

43

-13

-25

Credit

44

24

46

Debit

45

-37

-70

1.A.b.12 Government Goods and Services  n.i.e

46

-58

-62

Credit

47

36

64

Debit

48

-94

-126

1.B  Primary Income

49

-5286

-8119

Credit

50

2265

5021

Debit

51

-7551

-13141

1.C  Secondary Income

52

360

692

Credit

53

779

1606

Debit

54

-419

-914

2. Capital and Financial Accounts  (Including Net Errors and Omissions for the Quarter)

55

-5316

-10979

2.1  Capital Account

56

2

-13

Credit

57

4

8

Debit

58

-2

-21

2.2.  Financial Account (Including Net Errors and Omissions for the Quarter)

59

-5319

-10965

2.2.1  Financial Account (Excluding Reserve Assets, But Including Net Errors and  Omissions for the Quarter)

60

-6558

-9707

Including: 2.2.1.1 Direct Investment

61

975

4776

2.2.1.1.1 Assets

62

-2154

-4822

2.2.1.1.2 Liabilities

63

3129

9598

2.2.2  Reserve Assets

64

1239

-1259

2.2.2.1 Monetary gold

65

0

0

2.2.2.2 Special drawing rights

66

78

72

2.2.2.3 Reserve position in the IMF

67

33

47

2.2.2.4 Foreign exchange reserves

68

1128

-1378

2.2.2.5 Other reserves

69

0

0

3. Net Errors and Omissions

70

/

18


Note:1. The table is compiled according to BPM6.

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 balances, unless marked with "Credit" or "Debit".

3.The RMB denominated BOP statement is converted from the USD denominated BOP statement for the quarter using the period average central parity rate of RMB against USD.

4.The preliminary amount for the first half of 2022 is the sum of the official amounts of the BOP for 2022Q1 and the preliminary amount for 2022Q2.

5.This table employs rounded-off numbers.


China's Balance of Payments (Preliminary Data)

Unit: USD 100 million

Item

Line No.

2022

Q2

2022

H1

1. Current account

1

802

1691

Credit

2

9774

19356

Debit

3

-8972

-17665

1.  A Goods and Services

4

1546

2829

Credit

5

9316

18333

Debit

6

-7770

-15504

1.A.a  Goods

7

1757

3207

Credit

8

8406

16437

Debit

9

-6649

-13230

1.A.b  Services

10

-211

-378

Credit

11

910

1896

Debit

12

-1121

-2274

1.A.b.1 Processing services

13

33

65

Credit

14

35

70

Debit

15

-2

-4

1.A.b.2 Maintenance and Repair  Services

16

9

18

Credit

17

19

37

Debit

18

-10

-19

1.A.b.3 Transport

19

-50

-22

Credit

20

379

799

Debit

21

-430

-821

1.A.b.4 Travel

22

-224

-519

Credit

23

22

45

Debit

24

-246

-564

1.A.b.5 Construction

25

19

28

Credit

26

36

67

Debit

27

-17

-39

1.A.b.6 Insurance and Pension Services

28

-49

-89

Credit

29

6

21

Debit

30

-56

-110

1.A.b.7 Financial Services

31

3

5

Credit

32

12

24

Debit

33

-10

-19

1.A.b.8 Charges for the Use of  Intellectual Property

34

-82

-159

Credit

35

31

63

Debit

36

-113

-222

1.A.b.9 Telecommunications, Computer,  and Information Services

37

45

91

Credit

38

141

289

Debit

39

-95

-198

1.A.b.10 Other Business Services

40

96

217

Credit

41

220

464

Debit

42

-123

-248

1.A.b.11 Personal, Cultural, and  Recreational Services

43

-2

-4

Credit

44

4

7

Debit

45

-6

-11

1.A.b.12 Government Goods and Services  n.i.e

46

-9

-9

Credit

47

5

10

Debit

48

-14

-19

1.B  Primary Income

49

-798

-1244

Credit

50

341

775

Debit

51

-1139

-2019

1.C  Secondary Income

52

54

107

Credit

53

118

248

Debit

54

-63

-141

2. Capital and Financial Accounts  (Including Net Errors and Omissions for the Quarter)

55

-802

-1695

2.1  Capital Account

56

0

-2

Credit

57

1

1

Debit

58

0

-3

2.2.  Financial Account (Including Net Errors and Omissions for the Quarter)

59

-803

-1693

2.2.1  Financial Account (Excluding Reserve Assets, But Including Net Errors and  Omissions for the Quarter)

60

-993

-1489

Including: 2.2.1.1 Direct Investment

61

150

749

2.2.1.1.1 Assets

62

-327

-747

2.2.1.1.2 Liabilities

63

477

1496

2.2.2  Reserve Assets

64

190

-204

2.2.2.1 Monetary gold

65

0

0

2.2.2.2 Special drawing rights

66

12

11

2.2.2.3 Reserve position in the IMF

67

5

7

2.2.2.4 Foreign exchange reserves

68

173

-222

2.2.2.5 Other reserves

69

0

0

3. Net Errors and Omissions

70

/

4

Note:1. The table is compiled according to BPM6.

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 balances, unless marked with "Credit" or "Debit".

3. The preliminary amount for the first half of 2022 is the sum of the official amounts of the BOP for 2022Q1 and the preliminary amount for 2022Q2.

4.This table employs rounded-off numbers.


China's Balance of Payments (Preliminary Data)

Unit:SDR 100 million

Item

Line No.

2022

Q2

2022

H1

1. Current account

1

596

1234

Credit

2

7254

14129

Debit

3

-6658

-12895

1.  A Goods and Services

4

1148

2069

Credit

5

6913

13383

Debit

6

-5765

-11314

1.A.a  Goods

7

1305

2345

Credit

8

6238

12001

Debit

9

-4933

-9656

1.A.b  Services

10

-157

-276

Credit

11

675

1382

Debit

12

-832

-1659

1.A.b.1 Processing services

13

25

48

Credit

14

26

51

Debit

15

-2

-3

1.A.b.2 Maintenance and Repair  Services

16

7

13

Credit

17

14

27

Debit

18

-7

-14

1.A.b.3 Transport

19

-37

-17

Credit

20

281

582

Debit

21

-319

-599

1.A.b.4 Travel

22

-167

-378

Credit

23

16

33

Debit

24

-183

-410

1.A.b.5 Construction

25

14

21

Credit

26

26

49

Debit

27

-13

-28

1.A.b.6 Insurance and Pension Services

28

-37

-65

Credit

29

5

15

Debit

30

-41

-81

1.A.b.7 Financial Services

31

2

4

Credit

32

9

18

Debit

33

-7

-14

1.A.b.8 Charges for the Use of  Intellectual Property

34

-61

-116

Credit

35

23

46

Debit

36

-84

-162

1.A.b.9 Telecommunications, Computer,  and Information Services

37

34

66

Credit

38

105

211

Debit

39

-71

-144

1.A.b.10 Other Business Services

40

71

158

Credit

41

163

338

Debit

42

-92

-181

1.A.b.11 Personal, Cultural, and  Recreational Services

43

-1

-3

Credit

44

3

5

Debit

45

-4

-8

1.A.b.12 Government Goods and Services  n.i.e

46

-6

-7

Credit

47

4

7

Debit

48

-11

-14

1.B  Primary Income

49

-593

-913

Credit

50

253

565

Debit

51

-846

-1478

1.C  Secondary Income

52

40

78

Credit

53

87

181

Debit

54

-47

-103

2. Capital and Financial Accounts  (Including Net Errors and Omissions for the Quarter)

55

-596

-1238

2.1  Capital Account

56

0

-2

Credit

57

0

1

Debit

58

0

-2

2.2.  Financial Account (Including Net Errors and Omissions for the Quarter)

59

-596

-1236

2.2.1  Financial Account (Excluding Reserve Assets, But Including Net Errors and  Omissions for the Quarter)

60

-736

-1094

Including: 2.2.1.1 Direct Investment

61

110

540

2.2.1.1.1 Assets

62

-242

-544

2.2.1.1.2 Liabilities

63

353

1084

2.2.2  Reserve Assets

64

140

-142

2.2.2.1 Monetary gold

65

0

0

2.2.2.2 Special drawing rights

66

9

8

2.2.2.3 Reserve position in the IMF

67

4

5

2.2.2.4 Foreign exchange reserves

68

127

-156

2.2.2.5 Other reserves

69

0

0

3. Net Errors and Omissions

70

/

4

Notes:1. The table is compiled according to BPM6.

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 balances, unless marked with "Credit" or "Debit".

3.The SDR denominated quarterly BOP statement is converted from the USD denominated BOP statement for the quarter using the period average exchange rate of SDR against USD.

4.The preliminary amount for the first half of 2022 is the sum of the official amounts of the BOP for 2022Q1 and the preliminary amount for 2022Q2.

5.This table employs rounded-off numbers.


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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