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According to the statistics of the State Administrationof Foreign Exchange (SAFE), the Chinese foreign exchange market (excludingforeign currency pairs, the same below) recorded total transactions of RMB 20.42 trillion (equivalent to USD 3.15 trillion) in August 2021. In terms of markets, the transactions volume of clientmarket was RMB 2.95 trillion(equivalent to USD 0.46 trillion), and the transactions volume of interbankmarket was RMB 17.47 trillion(equivalent to USD 2.70 trillion). Interms of products, the cumulative transactions volume of the spot market wasRMB 7.54 trillion (equivalent to USD 1.16 trillion), and that of the derivatives market was RMB 12.88 trillion (equivalent to USD 1.99 trillion). From January to August 2021, a total of RMB 154.37 trillion (equivalent to USD 23.85 trillion) was traded in the Chinese foreign exchangemarket. 2021-09-24/en/2021/0924/1864.html
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In the fourth quarter of 2021, China's current account registered a surplus of RMB 763.6 billion, including a surplus of RMB 1152.6 billion under trade in goods, a deficit of RMB 97.1 billion under trade in services, a deficit of RMB 332.4 billion under primary income, and a surplus of RMB 40.4 billion under secondary income. In the capital and financial accounts, direct investments recorded a surplus of RMB 261.1 billion, and reserve assets increased by RMB 270.8 billion. In 2021, China's current account registered a surplus of RMB 2034.8 billion, including a surplus of RMB 3573.6 billion under trade in goods, a deficit of RMB 630.3 billion under trade in services, a deficit of RMB 1015.2 billion under primary income, and a surplus of RMB 106.7 billion under secondary income. In the capital and financial accounts, direct investments recorded a surplus of RMB 1323.1 billion, and reserve assets increased by RMB 1217.5 billion. In the US dollar terms, in the fourth quarter of 2021, China's current account recorded a surplus of USD 119.4 billion, including a surplus of USD 180.3 billion under trade in goods, a deficit of USD 15.2 billion under trade in services, a deficit of USD 52 billion under primary income, and a surplus of USD 6.3 billion under secondary income. In the capital and financial accounts, direct investments recorded a surplus of USD 40.8 billion, and reserve assets increased by USD 42.2 billion. In the US dollar terms, in 2021, China's current account recorded a surplus of USD 315.7 billion, including a surplus of USD 554.5 billion under trade in goods, a deficit of USD 97.7 billion under trade in services, a deficit of USD 157.7 billion under primary income, and a surplus of USD 16.6 billion under secondary income. In the capital and financial accounts, direct investments recorded a surplus of USD 204.8 billion, and reserve assets increased by USD 188.6 billion. In SDR terms, in the fourth quarter of 2021, China posted a surplus of SDR 84.9 billion under the current account, including a surplus of SDR 128.3 billion under trade in goods, a deficit of SDR 10.8 billion under trade in services, a deficit of SDR 37.1 billion under primary income, and a surplus of SDR4.5 billion under secondary income. In the capital and financial accounts, direct investments recorded a surplus of SDR 29 billion, and reserve assets increased by SDR 29.9 billion. In SDR terms, in 2021, China posted a surplus of SDR 222.2 billion under the current account, including a surplus of SDR 389.9 billion under trade in goods, a deficit of SDR 68.5 billion under trade in services, a deficit of SDR 110.9 billion under primary income, and a surplus of SDR 11.7 billion under secondary income. In the capital and financial accounts, direct investments recorded a surplus of SDR 143.5 billion, and reserve assets increased by SDR 132.2 billion. (End) China's Balance of Payments (Preliminary Data) Unit:RMB 100 million Item Line No. 2021 Q4 2021 1. Current account 1 7,636 20,348 Credit 2 70,494 250,553 Debit 3 -62,858 -230,206 1. A Goods and Services 4 10,556 29,433 Credit 5 66,454 229,593 Debit 6 -55,898 -200,160 1.A.a Goods 7 11,526 35,736 Credit 8 59,900 207,750 Debit 9 -48,374 -172,014 1.A.b Services 10 -971 -6,303 Credit 11 6,554 21,843 Debit 12 -7,524 -28,147 1.A.b.1 Processing services 13 227 870 Credit 14 240 916 Debit 15 -13 -46 1.A.b.2 Maintenance and Repair Services 16 79 261 Credit 17 147 507 Debit 18 -68 -246 1.A.b.3 Transport 19 178 -979 Credit 20 2,725 8,196 Debit 21 -2,547 -9,175 1.A.b.4 Travel 22 -1,719 -6,402 Credit 23 185 732 Debit 24 -1,904 -7,134 1.A.b.5 Construction 25 152 357 Credit 26 311 986 Debit 27 -159 -629 1.A.b.6 Insurance and Pension Services 28 -210 -761 Credit 29 84 332 Debit 30 -294 -1,093 1.A.b.7 Financial Services 31 9 -37 Credit 32 90 337 Debit 33 -80 -374 1.A.b.8 Charges for the Use of Intellectual Property 34 -587 -2,265 Credit 35 202 758 Debit 36 -789 -3,023 1.A.b.9 Telecommunications, Computer, and Information Services 37 267 695 Credit 38 901 3,278 Debit 39 -633 -2,583 1.A.b.10 Other Business Services 40 678 2,185 Credit 41 1,619 5,607 Debit 42 -941 -3,422 1.A.b.11 Personal, Cultural, and Recreational Services 43 -32 -118 Credit 44 26 94 Debit 45 -59 -211 1.A.b.12 Government Goods and Services n.i.e 46 -13 -109 Credit 47 25 100 Debit 48 -38 -209 1.B Primary Income 49 -3,324 -10,152 Credit 50 3,086 17,773 Debit 51 -6,410 -27,925 1.C Secondary Income 52 404 1067 Credit 53 955 3187 Debit 54 -550 -2120 2. Capital and Financial Accounts (Including Net Errors and Omissions for the Quarter) 55 -7,636 -14,415 2.1 Capital Account 56 0 6 Credit 57 3 17 Debit 58 -4 -11 2.2. Financial Account (Including Net Errors and Omissions for the Quarter) 59 -7,636 -14,420 2.2.1 Financial Account (Excluding Reserve Assets, But Including Net Errors and Omissions for the Quarter) 60 -4,928 -2,246 Including: 2.2.1.1 Direct Investment 61 2,611 13,231 2.2.1.1.1 Assets 62 -2,682 -8,206 2.2.1.1.2 Liabilities 63 5,292 21,437 2.2.2 Reserve Assets 64 -2708 -12175 2.2.2.1 Monetary gold 65 0 0 2.2.2.2 Special drawing rights 66 17 -2705 2.2.2.3 Reserve position in the IMF 67 -38 -6 2.2.2.4 Foreign exchange reserves 68 -2687 -9464 2.2.2.5 Other reserves 69 0 0 3. Net Errors and Omissions 70 / -5933 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 2021 is the sum of the official amounts of the BOP for the first three quarters of 2021, and the preliminary amount for 2021Q4. 5.This table employs rounded-off numbers. China's Balance of Payments (Preliminary Data) Unit: USD 100 million Item Line No. 2021 Q4 2021 1. Current account 1 1194 3157 Credit 2 11026 38855 Debit 3 -9832 -35698 1. A Goods and Services 4 1651 4568 Credit 5 10394 35609 Debit 6 -8744 -31040 1.A.a Goods 7 1803 5545 Credit 8 9369 32220 Debit 9 -7566 -26676 1.A.b Services 10 -152 -977 Credit 11 1025 3388 Debit 12 -1177 -4365 1.A.b.1 Processing services 13 35 135 Credit 14 37 142 Debit 15 -2 -7 1.A.b.2 Maintenance and Repair Services 16 12 40 Credit 17 23 79 Debit 18 -11 -38 1.A.b.3 Transport 19 28 -151 Credit 20 426 1272 Debit 21 -398 -1423 1.A.b.4 Travel 22 -269 -993 Credit 23 29 114 Debit 24 -298 -1106 1.A.b.5 Construction 25 24 56 Credit 26 49 153 Debit 27 -25 -97 1.A.b.6 Insurance and Pension Services 28 -33 -118 Credit 29 13 51 Debit 30 -46 -170 1.A.b.7 Financial Services 31 1 -6 Credit 32 14 52 Debit 33 -13 -58 1.A.b.8 Charges for the Use of Intellectual Property 34 -92 -352 Credit 35 32 118 Debit 36 -124 -469 1.A.b.9 Telecommunications, Computer, and Information Services 37 42 108 Credit 38 141 508 Debit 39 -99 -400 1.A.b.10 Other Business Services 40 106 339 Credit 41 253 870 Debit 42 -147 -531 1.A.b.11 Personal, Cultural, and Recreational Services 43 -5 -18 Credit 44 4 15 Debit 45 -9 -33 1.A.b.12 Government Goods and Services n.i.e 46 -2 -17 Credit 47 4 16 Debit 48 -6 -32 1.B Primary Income 49 -520 -1577 Credit 50 482 2752 Debit 51 -1002 -4329 1.C Secondary Income 52 63 166 Credit 53 149 494 Debit 54 -86 -329 2. Capital and Financial Accounts (Including Net Errors and Omissions for the Quarter) 55 -1194 -2238 2.1 Capital Account 56 0 1 Credit 57 0 3 Debit 58 -1 -2 2.2. Financial Account (Including Net Errors and Omissions for the Quarter) 59 -1194 -2239 2.2.1 Financial Account (Excluding Reserve Assets, But Including Net Errors and Omissions for the Quarter) 60 -772 -353 Including: 2.2.1.1 Direct Investment 61 408 2048 2.2.1.1.1 Assets 62 -420 -1275 2.2.1.1.2 Liabilities 63 828 3323 2.2.2 Reserve Assets 64 -422 -1886 2.2.2.1 Monetary gold 65 0 0 2.2.2.2 Special drawing rights 66 3 -418 2.2.2.3 Reserve position in the IMF 67 -6 -1 2.2.2.4 Foreign exchange reserves 68 -419 -1467 2.2.2.5 Other reserves 69 0 0 3. Net Errors and Omissions 70 / -919 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 2021 is the sum of the official amounts of the BOP for the first three quarters of 2021, and the preliminary amount for 2021Q4. 4.This table employs rounded-off numbers. China's Balanceof Payments (Preliminary Data) Unit:SDR 100 million Item Line No. 2021 Q4 2021 1. Current account 1 849 2,222 Credit 2 7,851 27,302 Debit 3 -7,002 -25,080 1. A Goods and Services 4 1,175 3,214 Credit 5 7,402 25,026 Debit 6 -6,227 -21,812 1.A.a Goods 7 1,283 3,899 Credit 8 6,671 22,644 Debit 9 -5,388 -18,745 1.A.b Services 10 -108 -685 Credit 11 730 2,382 Debit 12 -839 -3,067 1.A.b.1 Processing services 13 25 95 Credit 14 27 100 Debit 15 -1 -5 1.A.b.2 Maintenance and Repair Services 16 9 28 Credit 17 16 55 Debit 18 -8 -27 1.A.b.3 Transport 19 20 -105 Credit 20 304 895 Debit 21 -284 -1,000 1.A.b.4 Travel 22 -192 -698 Credit 23 21 80 Debit 24 -212 -777 1.A.b.5 Construction 25 17 39 Credit 26 35 108 Debit 27 -18 -68 1.A.b.6 Insurance and Pension Services 28 -23 -83 Credit 29 9 36 Debit 30 -33 -119 1.A.b.7 Financial Services 31 1 -4 Credit 32 10 37 Debit 33 -9 -41 1.A.b.8 Charges for the Use of Intellectual Property 34 -66 -247 Credit 35 22 83 Debit 36 -88 -330 1.A.b.9 Telecommunications, Computer, and Information Services 37 30 76 Credit 38 100 357 Debit 39 -71 -281 1.A.b.10 Other Business Services 40 76 238 Credit 41 180 611 Debit 42 -105 -373 1.A.b.11 Personal, Cultural, and Recreational Services 43 -4 -13 Credit 44 3 10 Debit 45 -7 -23 1.A.b.12 Government Goods and Services n.i.e 46 -1 -12 Credit 47 3 11 Debit 48 -4 -23 1.B Primary Income 49 -371 -1,109 Credit 50 343 1,929 Debit 51 -714 -3,038 1.C Secondary Income 52 45 117 Credit 53 106 348 Debit 54 -61 -231 2. Capital and Financial Accounts (Including Net Errors and Omissions for the Quarter) 55 -849 -1,580 2.1 Capital Account 56 0 1 Credit 57 0 2 Debit 58 0 -1 2.2. Financial Account (Including Net Errors and Omissions for the Quarter) 59 -849 -1,580 2.2.1 Financial Account (Excluding Reserve Assets, But Including Net Errors and Omissions for the Quarter) 60 -550 -258 Including: 2.2.1.1 Direct Investment 61 290 1,435 2.2.1.1.1 Assets 62 -300 -897 2.2.1.1.2 Liabilities 63 590 2,332 2.2.2 Reserve Assets 64 -299 -1322 2.2.2.1 Monetary gold 65 0 0 2.2.2.2 Special drawing rights 66 2 -294 2.2.2.3 Reserve position in the IMF 67 -4 -1 2.2.2.4 Foreign exchange reserves 68 -297 -1028 2.2.2.5 Other reserves 69 0 0 3. Net Errors and Omissions 70 / -642 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 2021 is the sum of the official amounts of the BOP for the first three quarters of 2021, and the preliminary amount for 2021Q4. 5. This table employs rounded-off numbers. 2022-02-11/en/2022/0211/1925.html
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In December 2021, China’s international trade in goods and services recorded receipts of RMB 2438.9 billion and payments of RMB 2054.2 billion based on statistics of balance of payments (BOP), registering a surplus of RMB 384.7 billion. Specifically, trade in goods registered receipts of RMB 2176.2 billion, payments of RMB 1740.5 billion, recording a surplus of RMB 435.6 billion; trade in services recorded receipts of RMB 262.7 billion, payments of RMB 313.6 billion,resulting in a deficit of RMB 50.9 billion. In the US dollar terms, in December 2021, the receipts and payments of China's international trade in goods and services were USD 382.9 billion and USD 322.5 billion respectively, registering a surplus of USD 60.4 billion. Specifically, the receipts and payments from trade in goods were USD 341.6 billion and USD 273.2 billion respectively, resulting in a surplus of USD 68.4 billion. Trade in services registered receipts and payments of USD 41.2 billion and USD 49.2 billion respectively, recording a deficit of USD 8.0 billion.(End) International Trade in Goods and Services of China (Based on the BOP statistics) December 2021 Item In 100 million of RMB In 100 million of USD Goods and services 3847 604 Credit 24389 3829 Debit -20542 -3225 1. Goods 4356 684 Credit 21762 3416 Debit -17405 -2732 2. Services -509 -80 Credit 2627 412 Debit -3136 -492 2.1 Manufacturing services on physical inputs owned by others 81 13 Credit 86 14 Debit -5 -1 2.2 Maintenance and repair services n.i.e 29 5 Credit 58 9 Debit -29 -4 2.3 Transport 171 27 Credit 1040 163 Debit -869 -136 2.4 Travel -757 -119 Credit 67 10 Debit -823 -129 2.5 Construction 89 14 Credit 145 23 Debit -56 -9 2.6 Insurance and pension services -147 -23 Credit 21 3 Debit -169 -26 2.7 Financial services 12 2 Credit 41 6 Debit -29 -5 2.8 Charges for the use of intellectual property -368 -58 Credit 90 14 Debit -458 -72 2.9 Telecommunications, computer and information services 142 22 Credit 372 58 Debit -230 -36 2.10 Other business services 263 41 Credit 687 108 Debit -425 -67 2.11 Personal, cultural, and recreational services -17 -3 Credit 13 2 Debit -30 -5 2.12 Government goods and services n.i.e -7 -1 Credit 8 1 Debit -14 -2 Notes: 1. The trade in goods and services in this table refers to the transactions between residents and non-residents, based on the same standard as that for BOP statement. The monthly data are preliminary and may be inconsistent with the quarterly data in the BOP statement. 2. The data on international trade in goods and services are prepared in USD, and the RMB data for the current month is derived by converting the USD data at the monthly average central parity rate of the RMB against the USD. 3. This table employs rounded-off numbers. Definition of Indicators: Goods and Services: refers to the trade in goods and services between residents and non-residents, which is based on the same standard as that for the BOP statement. 1. Goods: refers to transactions in goods whereby the economic ownership is transferred between the Chinese residents and non-residents. The credit side records export of goods, while the debit side records import of goods. The data of goods account are mainly from the customs statistics of imports and exports, but differ from the statistics of the customs mainly in the following aspects:first, the goods in the BOP statement only reflect the goods whose ownership has been transferred (e.g. goods under the trade modes such as general trade and processing trade with imported materials), while the goods whose ownershipis not transferred (e.g. manufacturing services with supplied materials or with exported materials) are included in the statistics of trade in services instead of the statistics of trade in goods; second, as required by the BOP statistics, the goods imported and exported are valued on the FOB basis, but as required by the customs, the goods exported are valued on the FOB basis, whereas goods imported are on the CIF basis. Therefore, for the purpose of the BOP statistics, the international transport and insurance premiums are taken out from the value of imported goods and included in the trade in services; and third, the data on net export of goods in merchanting which are not included in the customs statistics are supplemented. 2. Services: includes manufacturing services on physical inputs owned by others, maintenance and repair services n.i.e, transport, travel,construction, insurance and pension services, financial services, charges for the use of intellectual property, telecommunications, computer and information services, other business services, personal, cultural and recreational services, and government goods and services n.i.e. The credit side records services supplied, while the debit side records services received. 2.1 Manufacturing services on physical owned by others: processor only provides processing, assembly, packaging and other services and charges service fee from the owner, while the ownership of the goods isnot transferred between the owner and the processor. The credit side records the manufacturing services supplied by the Chinese residents on physical inputs owned by non-residents, and vice versa for debit side. 2.2 Maintenance and repair services: refer to the maintenance and repair services supplied by residents to non-residents or vice versa on goods and equipment (such as vessel, aircraft, and other transportation facility) owned by the receiving party. The credit side records the maintenance and repair services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.3 Transport: refers to the process of transporting people and goods from one place to another, and the relevant supporting and auxiliary services, as well as postaland delivery services. The credit side records the international transport, postal and delivery services supplied by residents to non-residents, and vice versa for debit side. 2.4 Travel: refers to goods consumed and services purchased by travelers in various economies as non-residents. The credit side records the goods and services provided by the Chinese residents to non-residents who have stayed in China for less than one year, as well as non-residents studying abroad and seeking medical treatment for indefinite period of stay. The debit side records the goods and services purchased by the Chinese residents when traveling, studying or seeking medical services abroad from non-residents. 2.5 Construction services: refer to the establishment, renovation, maintenance or expansion of fixed assets in the form of buildings, land improvement, roads, bridges and dams and other engineering buildings of engineering nature, relevant installation,assembly, painting, pipeline construction, demolition and project management,as well as site preparation, measurement and blasting and other special services. The credit side records the construction services provided by the Chinese residents outside the economic territory. The debit side records the construction services received by the Chinese residents in the Chinese economic territory from non-residents. 2.6 Insurance and pension services: refers to various insurance services and commission to agents related with insurance transaction. The credit side records the life insurance and annuity, non-lifeinsurance, reinsurance, standardized guarantee services and relevant supporting services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.7 Financial services: refer to financial intermediation and supporting services, excluding those covered by insurance and pension services. The credit side records the financial intermediation and supporting services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.8 Charges for the use of intellectual property: refer to licensed use of intangible, non-productive/non-financial assets and exclusive rights between residents and non-residents and the licensed use of existing original works or prototypes. The credit side records the intellectual property-related services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.9 Telecommunications, computer and information services: refer tocommunications services between residents and non-residents and transactions of services related to computer data and news, excluding commercial services delivered via telephone, computer and Internet. The credit side records the telecommunications, computer and information services supplied by residents to non-residents, and vice versa for debit side. 2.10 Other business services: refer to other types of services between residents and non-residents, including research and development services, professional and management consulting services, technical and trade-related services. The credit side records the other business services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.11 Personal, cultural and recreational services: refer to transactions of personal, cultural and recreational services between residents and non-residents, including audiovisual and related services (films,radio, television programs and music recordings) and other personal, cultural and recreational services (health, education, etc.). The credit side records the related services supplied by the Chinese residents to non-residents, and vice versa for debit side. 2.12 Government goods and services n.i.e: refer to various goods and services provided and purchased by governments and international organizations not included in other categories of goods and services. The credit side records the goods and services not included elsewhere and supplied by the Chinese residents to non-residents, and vice versa for debit side. 2022-01-28/en/2022/0128/1922.html
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Selected Transactions in the Chinese Foreign Exchange Market in 2022 (in RMB) Selected Transactions in the Chinese Foreign Exchange Market in 2022 (in USD) 2023-01-19/en/2022/0225/1933.html
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As shown in the statistics of the State Administration of Foreign Exchange (SAFE), in January 2022, the amount of foreign exchange settlement and sales by banks was RMB 1539.9 billion and RMB 1363.2 billion, respectively, with a surplus of RMB 176.6 billion. In the US dollar terms, in January 2022, the amount of foreign exchange settlement and sales by banks was USD 242.2 billion and USD 214.4 billion, respectively, with a surplus of USD 27.8 billion. In January 2022, the amount of cross-border receipts and payments by non-banking sectors was RMB 3725.1 billion and RMB 3353.9 billion, respectively, with a surplus of RMB 371.2 billion. In the US dollar terms, in January 2022, the amount of cross-border receipts and payments by non-banking sectors was USD 585.8 billion and USD 527.4 billion, respectively, with a surplus of USD 58.4 billion. Addendum: Glossary and relevant definitions Balance of payments (BOP) refers to all economic transactions between residents and non-residents. Foreign exchange settlement and sales by banks refers to settlement and sale transaction that bank executes for customers and for the banks themselves, including statistic data on settlements of forward contracts for foreign exchange settlement and sales and the exercises of option, and excluding the transactions in the interbank foreign exchange market. The statistic reporting date of Foreign exchange settlement and sales by banks should be the trade day of the Foreign exchange settlement and sales transaction. By definition, foreign exchange settlement means that foreign exchange holders sell foreign exchange to banks, and foreign exchange sales means that banks sell foreign exchange to foreign exchange buyers. The newly signed contract amount of forward foreign exchange settlement and sales refers to the binding forward contract between a bank and its client that predetermines foreign exchange currency, amount, exchange rate and tenor which to be executed upon maturity. The unwind amount of forward foreign exchange settlement and sales refers to, where client is unable to perform the original forward contract due to change in its real demand, client to fully or partially close its forward position by executing another deal with opposite direction to the original contract. The rolling amount of forward foreign exchange settlement and sales refers to client to adjust the settlement date of original contract due to change in its real demand. The outstanding amount of forward foreign exchange settlement and sales by the end of the current period refers to the total amount of forward contracts accumulated from all non-matured forward contracts with client. The net Delta exposure of outstanding options refers to the implied foreign exchange spot risk exposure from outstanding option contracts that bank executed with client. The cross-border receipts and payments by non-banking sectors refers to the receipts and payments between domestic non-banking sectors (including institutional and individual residents) and non-residents through domestic banks, excluding receipts and payments in cash. In particular, the statistics includes cross-border receipts and payments between non-banking sectors and non-residents through domestic banks (including RMB and foreign currency), and domestic receipts and payments between non-banking sectors and non-residents through domestic banks (temporarily excluding domestic receipts and payments in RMB between individual residents and non-resident individuals). Data are collected when customers conduct receipts and payments with non-resident counterparties at domestic banks. Specifically, the receipts refer to the capital of non-banking sectors received from non-residents via domestic banks; the payments refer to the capital of non-banking sectors paid to non-residents via domestic banks. 2022-02-18/en/2022/0218/1926.html
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In January 2022, the export and import of China’s international trade in services totalled RMB 501.4 billion, up 37 percent over the same time last year. Of this, the export recorded RMB 230.0 billion and the import recorded RMB 271.3 billion, resulting in a deficit of RMB 41.3 billion. In terms of the major items, the export and import of transport, other business services, travel and telecommunications, computer and information services registered RMB 194.8 billion, RMB 89.2 billion, RMB 83.6 billion and RMB 54.7 billion respectively. In the US dollar terms, in January 2022, China's international trade in services registered export of USD 36.2 billion and import of USD 42.7 billion, resulting in a deficit of USD 6.5 billion. (End) International Trade in Services of China January 2022 Item In 100 million of RMB In 100 million of USD 1. Services -413 -65 Credit 2300 362 Debit -2713 -427 1.1Manufacturing services on physical inputs owned by others 69 11 Credit 75 12 Debit -5 -1 1.2Maintenance and repair services n.i.e 21 3 Credit 42 7 Debit -21 -3 1.3Transport 33 5 Credit 990 156 Debit -957 -151 1.4Travel -720 -113 Credit 58 9 Debit -778 -122 1.5Construction -6 -1 Credit 68 11 Debit -74 -12 1.6Insurance and pension services -122 -19 Credit 20 3 Debit -142 -22 1.7Financial services 6 1 Credit 24 4 Debit -18 -3 1.8Charges for the use of intellectual property -137 -22 Credit 63 10 Debit -200 -31 1.9Telecommunications, computer and information services 144 23 Credit 346 54 Debit -201 -32 1.10Other business services 306 48 Credit 599 94 Debit -293 -46 1.11Personal, cultural, and recreational services -5 -1 Credit 7 1 Debit -12 -2 1.12Government goods and services n.i.e -3 0 Credit 8 1 Debit -11 -2 Notes: 1. As the Customs statistics of trade in goods for January 2022 will be disseminated together with data for February 2022 in March 2022, international trade in goods for January 2022 will be disseminated together with data for February2022 as well. 2. The trade in services in this table refers to the transactions between residents and non-residents, based on the same standard as that for BOP statement. The monthly data are preliminary and may be inconsistent with the quarterly data in the BOP statement. 3. The data on international trade in services are prepared in USD, and the RMB data for the current month is derived by converting the USD data at the monthly average central parity rate of the RMB against the USD. 4. This table employs rounded-off numbers. Definition of Indicators: 1. Services: includes manufacturing services on physical inputs owned by others, maintenance and repair services n.i.e, transport, travel,construction, insurance and pension services, financial services, charges for the use of intellectual property, telecommunications, computer and information services, other business services, personal, cultural and recreational services, and government goods and services n.i.e. The credit side records services supplied, while the debit side records services received. 1.1 Manufacturing services on physical owned by others: processor only provides processing, assembly, packaging and other services and charges service fee from the owner, while the ownership of the goods isnot transferred between the owner and the processor. The credit side records the manufacturing services supplied by the Chinese residents on physical inputs owned by non-residents, and vice versa for debit side. 1.2 Maintenance and repair services: refer to the maintenance and repair services supplied by residents to non-residents or vice versa on goods and equipment (such as vessel, aircraft, and other transportation facility) owned by the receiving party. The credit side records the maintenance and repair services supplied by the Chinese residents to non-residents, and vice versa for debit side. 1.3 Transport: refers to the process of transporting people and goods from one place to another, and the relevant supporting and auxiliary services, as well as postaland delivery services. The credit side records the international transport, postal and delivery services supplied by residents to non-residents, and vice versa for debit side. 1.4 Travel: refers to goods consumed and services purchased by travelers in various economies as non-residents. The credit side records the goods and services provided by the Chinese residents to non-residents who have stayed in China for less than one year, as well as non-residents studying abroad and seeking medical treatment for indefinite period of stay. The debit side records the goods and services purchased by the Chinese residents when traveling, studying or seeking medical services abroad from non-residents. 1.5 Construction services: refer to the establishment, renovation, maintenance or expansion of fixed assets in the form of buildings, land improvement, roads, bridges and dams and other engineering buildings of engineering nature, relevant installation,assembly, painting, pipeline construction, demolition and project management,as well as site preparation, measurement and blasting and other special services. The credit side records the construction services provided by the Chinese residents outside the economic territory. The debit side records the construction services received by the Chinese residents in the Chinese economic territory from non-residents. 1.6 Insurance and pension services: refers to various insurance services and commission to agents related with insurance transaction. The credit side records the life insurance and annuity, non-lifeinsurance, reinsurance, standardized guarantee services and relevant supporting services supplied by the Chinese residents to non-residents, and vice versa for debit side. 1.7 Financial services: refer to financial intermediation and supporting services, excluding those covered by insurance and pension services. The credit side records the financial intermediation and supporting services supplied by the Chinese residents to non-residents, and vice versa for debit side. 1.8 Charges for the use of intellectual property: refer to licensed use of intangible, non-productive/non-financial assets and exclusive rights between residents and non-residents and the licensed use of existing original works or prototypes. The credit side records the intellectual property-related services supplied by the Chinese residents to non-residents, and vice versa for debit side. 1.9 Telecommunications, computer and information services: refer tocommunications services between residents and non-residents and transactions of services related to computer data and news, excluding commercial services delivered via telephone, computer and Internet. The credit side records the telecommunications, computer and information services supplied by residents to non-residents, and vice versa for debit side. 1.10 Other business services: refer to other types of services between residents and non-residents, including research and development services, professional and management consulting services, technical and trade-related services. The credit side records the other business services supplied by the Chinese residents to non-residents, and vice versa for debit side. 1.11 Personal, cultural and recreational services: refer to transactions of personal, cultural and recreational services between residents and non-residents, including audiovisual and related services (films,radio, television programs and music recordings) and other personal, cultural and recreational services (health, education, etc.). The credit side records the related services supplied by the Chinese residents to non-residents, and vice versa for debit side. 1.12 Government goods and services n.i.e: refer to various goods and services provided and purchased by governments and international organizations not included in other categories of goods and services. The credit side records the goods and services not included elsewhere and supplied by the Chinese residents to non-residents, and vice versa for debit side. 2022-02-25/en/2022/0225/1932.html
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The State Administration of Foreign Exchange (SAFE) has recently released the preliminary data on the balance of payments for the fourth quarter and the whole year of 2021. Wang Chunying, SAFE Deputy Administrator and Press Spokesperson, answered media questions on relevant issues. Q: What are the characteristics of China’s balance of payments of 2021? A: The preliminary data shows that, China maintained a basic balance in its international payments in 2021, with a current account surplus of US$315.7 billion, accounting for 1.8% of the GDP for the year. China’s balance of payments continued to stay within a reasonable range of equilibrium. Its net inflows of direct investment grew significantly, and two-way flows of cross-border capital flourished. First, trade in goods continued to post a surplus. In 2021, as the global economic recovery remained on track, both exports and imports of China maintained steady growth. The exports and imports of goods in terms of international payments registered US$3.2 trillion and US$2.7 trillion respectively, posting a surplus of US$554.5 billion, up by 8% from the year 2020. Second, trade deficit in services narrowed. In 2021, the trade deficit in services recorded US$97.7 billion, decreasing by 33% year on year. Travel, the use of intellectual property and transport were the main deficit items. Of this, the travel deficit was US$99.3 billion, down by 15%, mainly due to the COVID-19 pandemic’s continued impact on cross-border tourism and studying abroad. Both revenue and expenditure on the use of intellectual property grew rapidly, with a deficit of US$35.2 billion, an increase of 20%, reflecting China’s deepening international cooperation in the field of intellectual property. The deficit in transport declined 60% to US$15.1 billion, mainly because transport revenue grew faster than expenditure on the whole. Third, the surplus of direct investment increased significantly. In 2021, the net inflow of direct investment had been doubled to US$204.8 billion, comparing with that of 2020, among which the net inflow of inward direct investment was US$332.3 billion, up by 56%, reflecting that China’s sound economic development prospects had attraction to the long-term foreign capital. China’s outward direct investment saw a net outflow of US$127.5 billion, up by 16%, indicating that overseas asset allocation by domestic entities was stable and orderly. Looking ahead into the future, despite external instabilities and uncertainties, China’s economic resilience remained strong with great potential and sound long-term fundamentals, which will be helpful for China’s international payments to remain generally balanced. 2022-02-11/en/2022/0211/1928.html
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Q: The State Administration of Foreign Exchange (SAFE) has just released the latest data regarding China’s foreign exchange reserves. Could you explain the causes for the changes in China’s foreign exchange reserves of January 2022? Also, what will be the future trends? A: By the end of January 2022, China’s foreign exchange reserves stood at US$3.2216 trillion, down by 0.88% or US$28.5 billion from the end of 2021. In January 2022, China’s foreign exchange market has maintained stable operation, with domestic supply and demand for foreign exchange remaining basically balanced. In the international financial market, affected by factors such as monetary policy expectations in major economies, geopolitics and macroeconomic data, the US dollar index has increased and the global financial asset prices have generally fallen. The volume of China’s foreign exchange reserves, dominated in the US dollar, declined this month due to the combined impacts of currency translation and assets price change. With the continuous spreading of the COVID-19 pandemic and mounting external uncertainties, the international financial market becomes highly volatile. However, China still unswervingly promotes high-quality development and adheres to the general principle of seeking progress while maintaining stability. As a result, China’s economic resilience remained strong with great potential and sound long-term fundamentals, which will offer strong support for the overall stability of China’s foreign exchange reserves. 2022-02-07/en/2022/0207/1927.html
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According to the statistics of the State Administrationof Foreign Exchange (SAFE), the Chinese foreign exchange market (excludingforeign currency pairs, the same below) recorded total transactions of RMB 24.11 trillion (equivalent to USD 3.79 trillion) in December 2021. In terms of markets, the transactions volume of clientmarket was RMB 3.65 trillion(equivalent to USD 0.57 trillion), and the transactions volume of interbankmarket was RMB 20.47 trillion(equivalent to USD 3.21 trillion). Interms of products, the cumulative transactions volume of the spot market wasRMB 8.45 trillion (equivalent to USD 1.33 trillion), and that of the derivatives market was RMB 15.67 trillion (equivalent to USD 2.46 trillion). From January to December 2021, a total of RMB 237.79 trillion (equivalent to USD 36.87 trillion) was traded in the Chinese foreign exchangemarket. 2022-01-28/en/2022/0128/1923.html
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According to the statistics of the State Administrationof Foreign Exchange (SAFE), the Chinese foreign exchange market (excludingforeign currency pairs, the same below) recorded total transactions of RMB 19.45 trillion (equivalent to USD 3.06 trillion) in January 2022. In terms of markets, the transactions volume of clientmarket was RMB 3.32 trillion(equivalent to USD 0.52 trillion), and the transactions volume of interbankmarket was RMB 16.13 trillion(equivalent to USD 2.54 trillion). Interms of products, the cumulative transactions volume of the spot market wasRMB 6.52 trillion (equivalent to USD 1.03 trillion), and that of the derivatives market was RMB 12.93 trillion (equivalent to USD 2.03 trillion). 2022-02-25/en/2022/0225/1934.html