In the first quarter of 2026, China's current account registered a surplus of RMB 1283.6 billion, including a surplus of RMB 1722.0 billion under trade in goods, a deficit of RMB 413.6 billion under trade in services, a deficit of RMB 51.4 billion under primary income and a surplus of RMB 26.7 billion under secondary income. The capital and financial accounts recorded a deficit of RMB 1310.2 billion.
In the US dollar terms, in the first quarter of 2026, China's current account registered a surplus of USD 184.3 billion, including a surplus of USD 247.5 billion under trade in goods, a deficit of USD 59.6 billion under trade in services, a deficit of USD 7.4 billion under primary income and a surplus of USD 3.8 billion under secondary income. The capital and financial accounts recorded a deficit of USD 188.1 billion.
In SDR terms, in the first quarter of 2026, China's current account registered a surplus of SDR 134.5 billion, including a surplus of SDR 180.7 billion under trade in goods, a deficit of SDR 43.5 billion under trade in services, a deficit of SDR 5.5 billion under primary income and a surplus of SDR 2.8 billion under secondary income. The capital and financial accounts recorded a deficit of SDR 137.2 billion. (End)
Abridged Balance of Payments, Q1 2026
Item | Line No. | RMB 100 million | USD 100 million | SDR 100 million |
1. Current Account | 1 | 12836 | 1843 | 1345 |
Credit | 2 | 79810 | 11483 | 8388 |
Debit | 3 | -66974 | -9640 | -7043 |
1. A Goods and Services | 4 | 13083 | 1879 | 1372 |
Credit | 5 | 73743 | 10610 | 7751 |
Debit | 6 | -60659 | -8731 | -6379 |
1.A.a Goods | 7 | 17220 | 2475 | 1807 |
Credit | 8 | 66697 | 9596 | 7010 |
Debit | 9 | -49477 | -7122 | -5203 |
1.A.b Services | 10 | -4136 | -596 | -435 |
Credit | 11 | 7046 | 1014 | 741 |
Debit | 12 | -11182 | -1609 | -1176 |
1.B Primary Income | 13 | -514 | -74 | -55 |
Credit | 14 | 5358 | 771 | 563 |
Debit | 15 | -5873 | -845 | -618 |
1.C Secondary Income | 16 | 267 | 38 | 28 |
Credit | 17 | 709 | 102 | 75 |
Debit | 18 | -442 | -64 | -47 |
2. Capital and Financial Account | 19 | -13102 | -1881 | -1372 |
2.1 Capital Account | 20 | -3 | 0 | 0 |
Credit | 21 | 3 | 0 | 0 |
Debit | 22 | -6 | -1 | -1 |
2.2 Financial Account | 23 | -13099 | -1881 | -1372 |
Assets | 24 | -18475 | -2651 | -1934 |
Liabilities | 25 | 5376 | 770 | 562 |
2.2.1 Financial Account Excluding Reserve Assets | 26 | -9754 | -1401 | -1023 |
2.2.1.1 Direct Investment | 27 | -610 | -88 | -64 |
Assets | 28 | -2991 | -431 | -315 |
Liabilities | 29 | 2380 | 343 | 251 |
2.2.1.2 Portfolio Investment | 30 | -10105 | -1457 | -1067 |
Assets | 31 | -7941 | -1141 | -834 |
Liabilities | 32 | -2164 | -316 | -233 |
2.2.1.3 Financial Derivatives (other than reserves) and Employee Stock Options | 33 | 17 | 2 | 2 |
Assets | 34 | 930 | 134 | 98 |
Liabilities | 35 | -912 | -132 | -96 |
2.2.1.4 Other Investment | 36 | 944 | 141 | 107 |
Assets | 37 | -5127 | -733 | -534 |
Liabilities | 38 | 6071 | 875 | 641 |
2.2.2 Reserve Assets | 39 | -3345 | -479 | -349 |
3. Net Errors and Omissions | 40 | 266 | 38 | 27 |
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 quarter of 2026, the gross inflow of equity other than reinvestment of earnings under direct investment liabilities (credit) was USD 20.7 billion (RMB 143.8 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” at the website of the SAFE.
